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 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 »
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 »
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 »
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 »
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 »
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 – …
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 »
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 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 »
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 »
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 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 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 …
In July, Australia’s coking coal exports to key Asian markets fell sharply. Exports to India fell 33% m/m to 2.34 million tonnes, Japan fell 2% m/m to 2.59 million tonnes, China fell 27% m/m to 1.16 million tonnes, and Vietnam fell 61.5% m/m to 0.25 million tonnes. Meanwhile, exports to South Korea rose 23% m/m …
Australia reduced coking coal exports by 17% m/m in July Read More »
Japanese steel producer Nippon Steel Corporation has announced that its Thailand-based subsidiaries G Steel Public Company Limited (G Steel) and G J Steel Public Company Limited (G J Steel) have decided to invest in a capital project worth a total of approximately THB 1.5 billion ($42.52 million) to strengthen its quality capabilities and cost competitiveness. …
According to the prices announced in the global steel markets, scrap prices amounted to $378/ tonne, $9 down compared to last week’s prices. and iron ore prices $101/ tonne, $3 down compared to last week’s prices. While the prices of billets ranged between 475 – 500 Dollars per tonne, while it was between 480 – …
Vale S.A., through its subsidiary Vale International SA, has signed an agreement to sell 50% of its distribution center in the Sultanate of Oman for $600 million to Apollo Global Management (Apollo), a leading provider of alternative asset management and pension funds. The transaction is expected to be completed by the end of 2024, subject …
Oman: Vale Sells 50% of Its Stake in Sohar Distribution Center to Apollo Read More »
The European Commission (EC) plans to initiate an anti-dumping duty (AD) investigation against imports of HRC from Egypt, Vietnam, India and Japan in a few days. The EU is taking new measures to further protect local steel producers, considering that the existing tariff-rate quotas could not be extended beyond July 2026, according to the WTO …
EU to start AD investigation into HRC imports from Egypt, Vietnam, India, Japan Read More »
In January-July 2024, steel companies of China increased the import of iron ore by 6.7% compared to the same period in 2023 – to 713.77 million tons. This is evidenced by the data of the Chinese Steel Association ( CISA ). In July, local steelmakers imported 102.81 million tons of iron ore, which is 5.3% …
China increased iron ore imports by 6.7% in January-July 2024 Read More »
In January-June 2024, steel enterprises of Turkey increased the import of scrap by 3.6% compared to the same period in 2023 – up to 9.95 million tons. This is evidenced by the data of the Turkish Statistical Institute (TUIK). In June, Turkey imported 1.32 million tons of scrap, which is 8.3% more compared to June …
9.95 Million Tons Turkey’s Scrap Imports in H1 2024 Read More »
The Director General of the General Administration of Customs, Abdullah Al-Sharhan, issued a decision to extend the increase in customs duties on rebar and wire rod from 5 percent to 10 percent for a full year. Al-Sharhan’s decision comes in addition to Customs Instructions No. 2 of 2023 regarding raising customs duties on iron imports, …
Kuwait: Customs extends 10% increase in steel import duties Read More »
El Nasr Pipe Manufacturing Company, one of the companies of the Ministry of Public Business Sector, has succeeded in recovering from its crises and overcoming losses in the last two fiscal years, as the company achieved about EGP 77 million in profits in 2023 and 2024, while achieving about EGP 488.5 million in revenues in …
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 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 37,000, El …
Turkish steel producer Borcelik, a joint venture between ArcelorMittal and Borusan Holding, selected Danieli technology for its new cold-mill complex to be installed in Gemlik region, the city of Bursa, in Turkey. The new pickling line coupled to cold rolling mill – PLTCM – will process 1.6 Mtpy, with future expansion to 2.0 Mtpy, of …
Borcelik and Danieli collaborate to set up cold-strip complex Read More »
The Department of Foreign Trade of Thailand (DFT) has announced the extension of anti-dumping duties on hot-rolled coil from China. The list of products subject to restrictions includes products under HS codes 7225 and 7226. The DFT initiated an anti-dumping investigation against alloy hot-rolled coil supplied to the Thai market by 17 producers from China …
Thailand has extended anti-dumping duties on steel coils from China Read More »
The profits of the Iron and Steel Company for Mines and Quarries declined in the past fiscal year, reaching EGP 127.5 million during the period from July 2023 to the end of June 2024, compared to EGP 127.8 million in the comparative year. The company’s sales decreased to EGP 306.25 million in the past fiscal …
EGP 127.5 million profits for “Iron and Steel for Mines” in 2023-2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $387/ tonne, $2 down compared to last week’s prices. and iron ore prices $104/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 480 – 510 Dollars per tonne, while it was between 485 – …
“Emirates Steel Arkan” announced its financial results for the first half of 2024, as the group’s revenues amounted to 3.96 billion dirhams, while its earnings before interest, taxes, depreciation and amortization amounted to 503 million dirhams. The group provided stable performance during the first half of 2024, despite the difficult conditions that affected local markets …
4 billion dirhams revenues of “Emirates Steel Arkan” in H1 of 2024 Read More »
According to the results of the first half of 2024, the global metallurgical company ArcelorMittal reduced its net profit by 51.2% compared to the same period in 2023 – to $1.44 billion. This is stated in the financial report published on the company’s website. The company’s EBITDA (earnings before interest, taxes and depreciation) for January-June …
$1.44 billion net profit for ArcelorMittal in H1 of 2024 Read More »