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 –
Steel prices in the second week of August 2024 Read More »
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
Rebar prices in Egypt August 5, 2024 Read More »
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 –
Steel prices in the first week of August 2024 Read More »
“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 »
Local and foreign steel industry companies have pledged billions of dollars in projects that could elevate the region’s countries as centers for green steel manufacturing. Steel production accounts for between 7% and 9% of global carbon dioxide emissions, making it a challenging industry to decarbonize. With strong growth expected in global steel production in the
Gulf countries chart path to green steel production Read More »
In June, , Turkey’s steel exports increased by 30.9% to 1.14 million mt, while the value of these exports rose by 12.6% to $829.24 million, year on year, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the first half, the country’s steel exports increased by 45.1% to 6.49 million mt,
Turkey’s steel exports increase in H1, imports fall Read More »
Rebar prices in Egypt this week ranged between EGP 36,500– 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 37,800, El
Rebar prices in Egypt August 1, 2024 Read More »
Ezz Steel Company announced price stability starting August 1, 2024 for the Fifth month in a row. Prices for rebar were EGP 40,700 per ton and flat steel at EGP 41,700 per ton. EXW, including value-added tax. Statement including VAT Rebar 40,700 Flat Steel 41,700
Egypt: Ezz Steel announces the prices of rebar and flat steel for August Read More »
The Arab Iron and Steel Union is scheduled to hold 3rd Technical Committee Meeting of AISU on September 17-18, 2024 in Algiers, Algeria, at the kind invitation of the General Secretariat of AISU. In this meeting, it is scheduled to study carbon neutrality in Arab countries and short-term and long-term future plans. The committee consists
Arab Iron and Steel Union holds 3rd Technical Committee Meeting in Algeria Read More »
The Arab Iron and Steel Union is scheduled to hold 9th Economic Committee Meeting of AISU during the period from 2-3 September in Cairo, Egypt, at the kind invitation of Ezz Steel Company. The committee holds its meetings periodically to study the conditions of the iron and steel industry and its repercussions on the steel
Arab Iron and Steel Union holds 9th Economic Committee Meeting in Cairo Read More »
Arabian Gulf Steel Industries, the national company specialized in manufacturing sustainable steel and headquartered in Abu Dhabi, announced achieving climate neutrality (net zero emissions) at its steel plant in the Emirate of Abu Dhabi, in commitment from the company to enhance environmental responsibility and sustainable manufacturing efforts. The company’s efforts are in line with the
Arabian Gulf Steel Industries achieves climate neutrality Read More »
Rebar prices in Egypt this week ranged between 37,300– 40,700 pounds. 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 38,000, El Komy Steel EGP 37,500, El
Rebar prices in Egypt July 15, 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $390/ tonne, unchanged from last week’s prices. and iron ore prices $110/ tonne, $2 down compared to last week’s prices. While the prices of billets ranged between 500 – 520 Dollars per tonne, while it was between 500 – 520 dollars
Steel prices in the second week of July 2024 Read More »
In June this year, China’s finished steel exports amounted to 8.7545 million mt, down 9.2 % month on month and up 16.4% year on year, according to the latest data released by China’s General Administration of Customs (GACC). In the January-June period this year, China’s finished steel exports rose by 24.0% year on year to
China’s steel exports up 24% in H1 of 2024 Read More »
The United States today revealed tightening measures related to steel and aluminum imports from Mexico, as part of its efforts to prevent Chinese-origin goods from evading duties. This is the latest step taken by President Joe Biden’s administration in the period leading up to the elections, as part of a series of efforts aimed at
US tightens steel and aluminum import rules to prevent China from avoiding paying duties Read More »
The Ministry of Housing and Urban Planning signed an agreement with the Chinese company CMEC to implement the third phase of the Sitra housing project. This came during a working meeting in the Chinese capital, Beijing, chaired by the Minister of Housing and Urban Planning, Amna Al Rumaihi, and the Chairman of the Board of
In May this year, Turkey’s billet and bloom imports amounted to 155,291 metric tons, down by 43.7% compared to April and by 50.0% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these imports totaled $90.25 million, decreasing by 41.9% compared to the previous
Algeria is the second largest country exporting billet to Turkey in Jan. – May 2024 Read More »
In May this year, Turkey’s hot rolled coil (HRC) imports amounted to 283,150 metric tons, down by 24.3% compared to April and by 51.8% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the value of these imports totaled $195.19 million, decreasing by 20.9% compared to the previous
Egypt is the second largest country exporting HRC to Türkiye In Jan. to May 2024 Read More »