Arab Steel Summit

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China dissatisfied with Canada’s decision to raise tariffs on electric cars

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.

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Riyadh Steel obtains banking facilities with Al-Awwal Bank worth 10 million riyals

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 »

Algeria tops rebar exporters to US in June 2024

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

Algeria tops rebar exporters to US in June 2024 Read More »

China’s steel mill inventories rise to highest level since May in mid-August

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 »

Arab countries’ crude steel production increases by 4.9% in January – July 2024

News, steel Statistics / user

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 »

China’s steel exports up 21.8% in January-July 2024

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 »

Canada to impose 100% tariff on Chinese electric vehicles, 25% on steel

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 »

Global DRI output up 2.4% in July 2024

News, steel Statistics / user

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.

Global DRI output up 2.4% in July 2024 Read More »

Steel prices in the fourth week of August 2024

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 –

Steel prices in the fourth week of August 2024 Read More »

China revises approval system for new steel mills

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 rise about 3% to continue recovery for the third day in a row

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 down 4.7% in July 2024

News, steel Statistics / user

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 August 20, 2024

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

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Watani Steel profits rise to 3.4 million riyals by the end of H1 of 2024

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 iron and steel exports to EU declined by 37% in H1 of 2024

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 »

Top 4 iron ore miners lose nearly $100bn in market value due to falling prices

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 »

Misr National Steel Company – Ataqa profits rise 30% in H1of 2024

The financial statements of Misr National Steel Company – Ataqa, in the first half of this year, showed a 30.36% decline in the company’s profits on an annual basis. The company explained in a statement to the Egyptian Stock Exchange that it achieved profits of EGP 535.45 million in the period from January to the

Misr National Steel Company – Ataqa profits rise 30% in H1of 2024 Read More »

Riyadh Steel profits rise slightly to 2.5 million riyals by the end of H1 of 2024

Riyadh Steel Company’s profits, which are active in the steel industry and scrap sales, rose slightly to 2.53 million riyals by the end of the first half of 2024, compared to profits of 2.52 achieved during the same period in 2023. Summary of financial results (million) Item 6 months 2023 6 months 2024 Change Revenue

Riyadh Steel profits rise slightly to 2.5 million riyals by the end of H1 of 2024 Read More »

China’s steel surplus is a wake-up call for the world

Global steel production is having a bad year. Shanghai trader Yu Yong Zhang’s annual steel sales have fallen by more than three-quarters in a few years, in a market so bad that he “can’t see any light at the end of the tunnel.” More than 1,000 miles away in Chile, Hector Medina is on the

China’s steel surplus is a wake-up call for the world Read More »

Turkey’s iron ore imports increase by 50.7% in January-June 2024

In June this year, Turkey’s iron ore imports amounted to 938,881 metric tons, up by 6.8% compared to May and by 29.8% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these imports totaled $117.01 million, increasing by 6.8% compared to the previous month

Turkey’s iron ore imports increase by 50.7% in January-June 2024 Read More »

Egypt: Minister of Public Business Sector visits Delta Steel Company

Engineer Mohamed Shimi, Minister of Public Business Sector, visited Delta Steel Factories Company in Mostorod on Saturday morning, where he was received by Eng. Ayman Attia, Governor of Qalyubia. According to a statement from the ministry today, this comes within the framework of the ongoing field tours of various work and production sites in the

Egypt: Minister of Public Business Sector visits Delta Steel Company Read More »

Hadeed cuts wire rod prices for September deliveries

Saudi Iron and Steel Company (Hadeed) will lower its wire rod prices by SAR 100 (USD 27) per ton for September deliveries. The new price for wire rod (6.5-16 mm) will be SAR 2,435 (USD 648) per ton. Hadeed recently reduced its rebar prices by SAR 40 (USD 11) per ton, bringing them to SAR

Hadeed cuts wire rod prices for September deliveries Read More »

Steel prices in the third week of August 2024

According to the prices announced in the global steel markets, scrap prices amounted to $370/ tonne, $8 down compared to last week’s prices. and iron ore prices $93/ tonne, $9 down compared to last week’s prices. While the prices of billets ranged between 465 – 490 Dollars per tonne, while it was between 475 –

Steel prices in the third week of August 2024 Read More »

Japan’s domestic steel consumption down 10.6% in H1 2024

In June this year, domestic steel product consumption in Japan amounted to 3.52 million metric tons, down by 2.2% compared to May and by 8.7% year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-June period, domestic steel consumption in the country decreased by 10.6%

Japan’s domestic steel consumption down 10.6% in H1 2024 Read More »

The struggling Chinese economy threatens the global steel industry.

Iron ore prices fell to their lowest since 2022 amid concerns about oversupply, after warnings of an industrial crisis in China that could spread globally and push the sector into a deeper slowdown, according to the American “Bloomberg” agency. Singapore steel futures fell on Thursday for a fourth straight day, reaching below $94 a ton,

The struggling Chinese economy threatens the global steel industry. Read More »

Iron ore prices fall to near two-year low on supply glut concerns

Iron ore prices fell on Thursday to their lowest level in nearly two years on supply glut concerns as China’s steel output fell in July and Australian exports continued to surge. Singapore iron ore futures fell 2.6% to $93.20 a tonne on the day, their lowest daily level since November 2022, before recovering some of

Iron ore prices fall to near two-year low on supply glut concerns Read More »

EU initiates anti-dumping investigations against “Ezz Steel”

Egyptian Ezz Steel has received a notification from the European Trade Commission that it has begun anti-dumping investigations into imports of hot-rolled flat steel from Egypt, India, Japan and Vietnam, following a complaint filed by the European Steel Association (EUROFER). The company said in a statement on the London Stock Exchange that the complaint calls

EU initiates anti-dumping investigations against “Ezz Steel” Read More »

Turkey’s HRC exports increase by 120% in H1 2024

In June this year, Turkey’s hot rolled coil (HRC) exports amounted to 243,772 metric tons, up by 20.9% compared to May and up by 179.9% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $151.62 million, increasing by 15.4% compared to

Turkey’s HRC exports increase by 120% in H1 2024 Read More »

Jordan Steel announces the prices of rebar for August 2024

Jordan Steel Company announced rebar prices for August 2024, a decrease of between 3-5 dinars over last month’s prices. The prices for Grade 60 EXW, between 453 and 462 dinars per tonne, excluding sales tax. However, with sales tax, it is between 540 and about 550 dinars per tonne. Grade Price without tax Price

Jordan Steel announces the prices of rebar for August 2024 Read More »

Rebar prices in Egypt August 12, 2024

Rebar prices in Egypt this week ranged between EGP 37,000– 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 39,000, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,500, El Komy Steel EGP 37,500, El

Rebar prices in Egypt August 12, 2024 Read More »