The value of Egypt’s iron and steel exports declined by about 19% during January-July of this year to reach $1.17 billion, compared to about $1.43 billion in the same period last year, according to government data. The data revealed a decline in Egypt’s iron and steel exports by more than 40% during the month of …
Egypt’s iron and steel exports decline by 19% during January-July 2024 Read More »
The Iron and Steel Company for Mines and Quarries announced achieving total sales in July worth EGP 22.5 million. The company explained, in a statement to the Egyptian Stock Exchange, that sales of the Bahariya Oasis mines in July amounted to EGP 22.49 million. It added that the value of sales of the Beni Khaled …
Egypt: EGP 22.5 million in iron and steel sales for mines in July Read More »
The Arab Iron and Steel Union held the ninth meeting of the Economic Committee in Cairo, Egypt, in the period from 2-3 September. The committee meeting was attended by representatives of the following countries: Egypt – Algeria – Kuwait – Qatar – Tunisia – Libya. During the meeting sessions, the economic conditions in Arab countries …
Arab Iron and Steel Union holds the ninth meeting of the Economic Committee in Cairo Read More »
Morocco’s leading flat steel producer, Maghreb Steel, reported a 5pct YoY revenue growth in H1 2024, driven by increased domestic and export sales. The company’s sales revenue reached MHD 2.55 bln (USD 260 mln) in the first half of 2024, up from MHD 2.43 bln in the same period last year. Maghreb Steel also experienced …
Iron ore prices fell on Monday, trading below $100 a tonne amid continued slowdown in China’s industrial activity and a prolonged crisis in the real estate sector. The most active iron ore futures contracts on the Singapore Exchange fell 4.04% to $96.95 a tonne at 03:39 p.m. Mecca time. This comes after iron ore futures …
A source close to US Vice President and Democratic presidential candidate Kamala Harris revealed that she insists on the continued ownership and management of US Steel Corp, which represents an obstacle to the Japanese steel company Nippon Steel Corp’s attempt to acquire the US company. Bloomberg quoted the source as saying that Harris, who will …
Harris rejects sale of US Steel to Japan’s Nippon Steel Read More »
Steelmakers are making efforts to shift away from traditional coal-based production methods, which contribute significantly to global carbon emissions. While green hydrogen is a promising solution for the future of steelmaking, its high cost and deployment challenges limit its potential as a near-term alternative to coal. The steel industry is exploring alternative solutions to reduce …
Steelmaking’s shift from coal to gas could cut emissions by 75% Read More »
China’s steel exports are set to hit an eight-year high this year, flooding the world with cheap supplies and threatening to inflame global trade tensions. The world’s largest steel producer is forecast to export more than 100 million tonnes in 2024, the highest since 2016, according to Shanghai-based consultancy MySteel, the Financial Times reported. “Steel …
China’s record steel exports threaten global trade tensions Read More »
Despite the rapid expansion of renewable energy sources, strong growth in electricity demand in key economies indicates that global coal consumption will remain largely stable in 2024-2025. This is stated in the latest report of the International Energy Agency (IEA) – Coal Mid-Year Update. In 2023, global coal consumption increased by 2.6% year-on-year, reaching a …
IEA : Global coal demand to remain flat until 2025 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $364/ tonne, $4 up compared to last week’s prices. and iron ore prices $101/ tonne, $4 up compared to last week’s prices. While the prices of billets ranged between 470 – 490 Dollars per tonne, while it was between 465 – …
The iron and steel company Tosyali Algeria has exported 25,000 tons of steel sheets for the first time, according to the company’s investment manager, Ezzi Ramzi. Mr. Ezzi pointed out that “after the partial operation of flat steel production, 25,000 tons of steel sheets were exported for the first time to international markets”, noting that …
Tosyali Algeria exports 25,000 tons of steel sheets Read More »
The US Trade Representative has expressed strong support for Canada’s decision to impose 100% tariffs on Chinese-made electric vehicles and 25% on Chinese steel and aluminum, as she finalizes planned US restrictions at similar rates. In a statement from her office on Thursday, Katherine Tai commended Canada’s decision to take strong action against state-backed, unfair …
US supports Canada’s move to impose trade restrictions on Chinese exports Read More »
Russian steel prices rose as much as 20% in the first half of 2024, as demand for housing and infrastructure rebounded despite a nearly three-year war with neighboring Ukraine and Western sanctions on Moscow. Russian steel prices have risen between 5% and 20% since the start of the year, with demand up about 6% in …
Russian Steel Prices Up to 20% as Demand Rebounds Read More »
Emirates Steel Arkan has announced rebar prices for September at AED 2,447.25 ($666) per tonne CPT Abu Dhabi and AED 2,456.25 ($669) per tonne CPT Dubai, Sharjah and Northern Emirates. An increase of $19-20 per tonne compared to last month’s prices. These prices are exclusive of 5% VAT. 1 USD = 3.67 AED
Beijing has expressed “strong dissatisfaction” with Canada’s decision to impose a 100% tariff on imports of Chinese electric cars, a sector that Ottawa and Washington say is state-backed and therefore violates “fair competition” rules. The Chinese embassy in Canada said in a statement that “China expresses its strong dissatisfaction and firm opposition” to the decision. …
China dissatisfied with Canada’s decision to raise tariffs on electric cars Read More »
Riyadh Steel Company announced yesterday, Monday, that it signed a short-term banking facilities agreement (compliant with the provisions of Islamic Sharia) with the Saudi First Bank worth 10 million riyals. The company said in a statement on Tadawul that the financing period is one year, noting that the facilities agreement is secured by a promissory …
Riyadh Steel obtains banking facilities with Al-Awwal Bank worth 10 million riyals Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 52,392 mt in June this year, down 53.7% month on month and down 72.8% year on year. By value, rebar imports totaled $33.4 million in June this year, compared to $72.3 million in May and $123.0 million in June …
Inventories at major steel mills in China rose 3.48% from the beginning of the month to 16.5 million tons by mid-August, the highest level since May, according to data from the China Iron and Steel Association (CISA). The current inventory level is 1.1% lower than the same period last year, according to Bloomberg News. The …
China’s steel mill inventories rise to highest level since May in mid-August Read More »
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production amounted to 3.4 million tons in July 2024, an increase of 2.7% compared to July 2023. July 2024 production was. Egypt topped Arab countries in steel production in July with a production volume of 959 …
Arab countries’ crude steel production increases by 4.9% in January – July 2024 Read More »
In January-July 2024, China’s steel exports rose 21.8% year-on-year to 61.23 million tonnes, according to the China Steel Manufacturers Association (CISA). Steel imports from January-July 2024 decreased 6.7% year-on-year to 4.12 million tonnes. Iron ore imports were 713.77 million tonnes, up 6.7% year-on-year. In July, China’s steel exports were 7.83 million tonnes, down 10.5% month-on-month. …
China’s steel exports up 21.8% in January-July 2024 Read More »
Canadian Prime Minister Justin Trudeau announced a 100% tariff on Chinese electric vehicle imports, in line with U.S. measures aimed at stemming the flow of state-subsidized Chinese vehicles into North America. He also unveiled an additional 25% tax on steel and aluminum products from China. The additional tax on electric vehicles will take effect on …
Canada to impose 100% tariff on Chinese electric vehicles, 25% on steel Read More »
According to the data released by the World Steel Association (worldsteel), global direct reduced iron (DRI) production in the 13 countries accounting for approximately 91.4% of total world DRI production in 2023 amounted to 10.61 million metric tons in June this year, decreasing by 2.6% month on month and up by 2.4% year on year. …
According to the prices announced in the global steel markets, scrap prices amounted to $360/ tonne, $10 down compared to last week’s prices. and iron ore prices $97/ tonne, $4 up compared to last week’s prices. While the prices of billets ranged between 465 – 490 Dollars per tonne, while it was between 465 – …
China has revises its approval system for new steel mills as a sharp drop in demand has hurt the sector’s profits and boosted exports. The rules Beijing has used for years to allow companies to build steel mills on condition that they reduce a certain amount of existing capacity will no longer apply from Friday, …
China revises approval system for new steel mills Read More »
Iron ore prices rose more than 3% during Wednesday’s trading, continuing their recovery for the third day in a row, supported by optimism that China will take further measures to support the real estate sector. The most active iron ore futures prices on the Singapore Exchange rose by 3.2% to $98.45 per ton during today’s …
Iron ore prices rise about 3% to continue recovery for the third day in a row Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 152.8 million tonnes (Mt) in July 2024, a 4.7% decrease compared to July 2023. Africa produced 2.0 Mt in July 2024, up 4.0% on July 2023. Asia and Oceania produced 112.7 Mt, down 6.4%. The EU (27) produced 10.8 …
World crude steel production down 4.7% in July 2024 Read More »
Rebar prices in Egypt this week ranged between EGP 36,300 – EGP 40,700. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 38,500, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,000, El Komy Steel EGP …
The profits of Watani Iron and Steel Company (Watani Steel), which works in the production and manufacture of billet and rebar, rose to 3.4 million riyals by the end of the first half of 2024, compared to profits of 1.2 million riyals in the same period of the previous year. Item 6 months 2023 6 …
Watani Steel profits rise to 3.4 million riyals by the end of H1 of 2024 Read More »
Egypt’s exports of iron and steel products to the European Union countries declined by about 37% during the first half of this year, according to government data. The data showed that imports from the European Union countries decreased during the period from January to the end of last June to about $420 million, compared to …
Egypt’s iron and steel exports to EU declined by 37% in H1 of 2024 Read More »
The market value of the world’s top 4 iron ore mining companies has fallen, with the price of a tonne falling below $100 recently. Iron ore prices have fallen by more than a third since the start of 2024, with futures on China’s Qingdao Stock Exchange hitting $92.2 a tonne yesterday, the lowest since November …
Top 4 iron ore miners lose nearly $100bn in market value due to falling prices Read More »