Protected: Arab Steel Magazine May – June 2024
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Steel prices on the last day of June 2024
According to the prices announced in the global steel markets, scrap prices amounted to $391/ tonne, $5 up compared to last week’s prices. and iron ore prices $105/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 495 – 520 Dollars per tonne, while it was between 495 – …
Emirates Steel Arkan keeps rebar prices unchanged for July output
UAE’s Emirates Steel Arkan has maintained rebar prices for its July production. The company will continue offering rebar (10-40 mm) at AED 2,369 (USD 645) per ton EXW, AED 2,377 (USD 647) per ton CPT Abu Dhabi, and AED 2,384 (USD 649) per ton CPT Dubai, Sharjah, and Northern Emirates. These prices exclude 5pct VAT. …
Emirates Steel Arkan keeps rebar prices unchanged for July output Read More »
Saudi Iron and Steel Company (Hadeed) raises long steel prices
Saudi Iron and Steel Company (Hadeed) has increased rebar and wire rod prices for its July production. The company is offering rebar (12-32 mm) at SAR 2,410 (USD 642) per ton, an increase of SAR 35 (USD 9) per ton compared to the previous month. The price of wire rod (6.5-16 mm) has also risen …
Saudi Iron and Steel Company (Hadeed) raises long steel prices Read More »
US increased rolled steel imports by 6.6% in May
In May 2024, US steel enterprises increased imports of rolled steel products by 6.6% compared to April this year, to 2.23 million tons. This is evidenced by data from the American Iron and Steel Institute (AISI). Total steel imports (rolled products and semi-finished products) increased by 1.7% last month compared to April – to 2.85 …
US increased rolled steel imports by 6.6% in May Read More »
UK extends safeguard measures on 15 steel product categories until June 2026
The UK Department for Business and Trade (DBT) has announced that it has decided to extend the safeguard measures on 15 categories of steel products for a further two years until June 30, 2026. The decisions will come into effect from July 1,2024. Following an extension review initiated in September last year, the UK’s Trade …
UK extends safeguard measures on 15 steel product categories until June 2026 Read More »
The largest mining company in the world: We will not be able to achieve zero emissions by 2050
BHP Group, which is the largest mining company in the world, revealed that it may not be able to achieve zero emissions by 2050 amid its production of huge quantities of iron ore, which is an emissions-intensive material. However, the group confirmed that it is still working hard to achieve this, pointing to its efforts …
China’s iron ore production increased by 13.4% in Jan-May 2024
In the January-May period this year, China’s iron ore production amounted to 457.352 million mt, increasing by 13.4% year on year, according to China’s National Bureau of Statistics (NBS). In May alone, China’s iron ore production totaled 88.479 million mt, increasing by 9.0% year on year, while up 0.65% month on month. Import iron ore …
China’s iron ore production increased by 13.4% in Jan-May 2024 Read More »
Rebar prices in Egypt June 25, 2024
Rebar prices in Egypt this week ranged between 37,700 – 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 38,500, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,000. Garhy Steel EGP 38,500, Misr Steel EGP 38,250, El Komy Steel EGP 38,250, …
Figures on the Arab iron and steel industry 2024
• We have just received the latest figures on the global steel industry, published by the World Steel Organization, in addition to a number of indicators from production and consumption to environmental performance, which constitute the main interest of manufacturers and international organizations such as the OECD, World Steel, and others. • As for the …
Figures on the Arab iron and steel industry 2024 Read More »
Egypt’s iron and steel imports recorded $1.2 billion in Q1 of 2024
Egypt’s imports of steel during the first quarter of 2024 amounted to about $1.164 billion, accounting for 6.1% of total Egyptian imports during this period, an increase of 29.5% compared to the same period in 2023, which amounted to $898.992 million. The 9 largest countries exporting iron and steel to Egypt Country Q1 2024 …
Egypt’s iron and steel imports recorded $1.2 billion in Q1 of 2024 Read More »
Steel prices in the fourth week of June 2024
According to the prices announced in the global steel markets, scrap prices amounted to $386/ tonne, from last week’s prices. and iron ore prices $105/ tonne, $2 down compared to last week’s prices. While the prices of billets ranged between 495 – 525 Dollars per tonne, while it was between 500 – 525 dollars per …
Report: U.S. Flat Steel Prices Pressured by Influx of Imports
U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices fell 4%. Steel prices remain in search of new bottoms as the market appears increasingly soft. As of June 13, hot …
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World’s crude steel production increased by 1.5% in May 2024
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 165.1 million tonnes (Mt) in May 2024, a 1.5% increase compared to May 2023. Africa produced 1.8 Mt in May 2024, up 0.9% on May 2023. Asia and Oceania produced 122.1 Mt, up 1.6%. The EU (27) produced 11.7 …
World’s crude steel production increased by 1.5% in May 2024 Read More »
UAE attracts record inflows of foreign investment… $31 billion in 2023
UAE attracted record inflows of inward foreign direct investment in 2023 at about 112.7 billion dirhams, equivalent to $30.7 billion, a growth of 35%, compared to 83.3 billion dirhams, equivalent to $22.7 billion in 2022, which reflects a noticeable increase in its attractiveness. For foreign investors, according to a report by the United Nations Conference …
UAE attracts record inflows of foreign investment… $31 billion in 2023 Read More »
Danieli and Kanthal partner to decarbonize DR and steel production
The Italian plantmaker Danieli and the Swedish electric industrial heating technology provider Kanthal have announced a strategic partnership that aims to decarbonize direct reduction and blast furnace operations thanks to Prothal® DH technology for electric gas direct-heating. The introduction of this new technology – developed by Kanthal – will reduce carbon emissions in steel and …
Danieli and Kanthal partner to decarbonize DR and steel production Read More »
Vale plans to increase iron ore exports to Middle East
Speaking during the FII Priority Summit, Eduardo Bartolomeo, CEO of the Brazilian miner Vale, informed that the company’s current iron ore exports to the Middle East, 27 million mt per year, could be increased to 70 million mt per year, without mentioning deadlines. According to Bartolomeo, the increase could be based on the development of …
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Pakistan’s scrap imports up 36.1% in May from April 2024
Pakistan’s scrap imports amounted to 250,734 mt in May this year, rose by 36.1% compared to April and by 50.1% year on year, according to the data released by the Pakistan Federal Bureau of Statistics (PFBS). The value of these imports in the given month was $113.34 million, up by 36.5% month on month and …
Pakistan’s scrap imports up 36.1% in May from April 2024 Read More »
SMS Group completes the modernization of the blast furnace A at Salzgitter Flachtstal AG
SMS has successfully commissioned a new Paul Wurth Parallel Hopper Bell Less Top® (BLT) in blast furnace A at Salzgitter Flachstahl AG. As part of this SMS upgrade, the BLT system from 1977 was replaced by a new Paul Wurth Parallel Hopper Bell Less Top®, which boasts an array of technical and operational enhancements. The …
SMS Group completes the modernization of the blast furnace A at Salzgitter Flachtstal AG Read More »
Steel prices in the third week of June 2024
According to the prices announced in the global steel markets, scrap prices amounted to $386/ tonne, $4 up compared to last week’s prices. and iron ore prices $107/ tonne, $2 down compared to last week’s prices. While the prices of billets ranged between 500 – 525 Dollars per tonne, while it was between 490– 525 …
Cooperation between Qatar Energy and Japanese steel companies to CCS through the Blue Ammonia Plant
Japan’s Nippon Steel and Sumitomo Corp have secured orders from Qatar Energy for high-alloy seamless pipes to be used in a carbon capture storage (CCS) project. This project, led by Qatar Energy in Qatar’s Mesaieed Region, aims to construct a blue ammonia manufacturing plant. Nippon Steel recently shipped the first batch of these high-alloy seamless …
Turkey’s exports of rebar increased in January-April 2024
In April 2024, Turkey’s exports of rebar rose by 64% on an annual basis, and by 23% compared to last March, to 276,000 tons, according to data from the Turkish Statistical Institute (TUIK). In the first four months of 2024, Turkey exported approximately 1.06 mln tons of rebar, reflecting an 18.9% increase from the same …
Turkey’s exports of rebar increased in January-April 2024 Read More »
Turkey’s billet imports down by 27.6% in January-April 2024, with Algeria in the lead
In April this year, Turkey’s billet and bloom imports amounted to 279,999 metric tons, down by 13.3% compared to March and by 35.5% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these imports totaled $155.36 million, decreasing by 15.3% compared to the previous …
Turkey’s billet imports down by 27.6% in January-April 2024, with Algeria in the lead Read More »
India will stimulate iron ore enrichment for the needs of steelmakers
India will stimulate iron ore enrichment for the needs of the steel industry and its transition to environmentally friendly steel production. This is reported by BigMint. It is expected that steel production in the country will reach 200-210 million tons by 2029/2030 fiscal year, which is 40-47% more than in 2023/2024 fiscal year. This rapid …
India will stimulate iron ore enrichment for the needs of steelmakers Read More »
Canada imposes preliminary AD tariffs on wire rod imports from Egypt
The Canada Border Services Agency (CBSA) has announced the preliminary determination of its antidumping duty investigation against wire rod imports from Egypt, China, and Vietnam. Focusing on Egypt, the Canadian regulator imposed a preliminary antidumping tariff of 49.7% on Suez Steel and 99.8% on all other Egyptian wire rod producers. For comparison, the preliminary dumping …
Canada imposes preliminary AD tariffs on wire rod imports from Egypt Read More »
US steel exports up 6.0% in April 2024
According to export data from the US Department of Commerce, monthly steel exports in April this year increased 6.0% from March and were up 9.5% year on year to 763,571 mt. In terms of value, US steel exports in April totaled $1.36 billion, compared to $1.29 billion in March and $1.24 million in April last …
China’s steel exports increased by 24.7% during January-May 2024
In May this year, China’s exports of finished steel reached 9.631 million tons, up 4.4% month-on-month and 15.3% year-on-year, according to the latest data from the General Administration of Customs of China. China’s domestic market demand was weaker than expected in May so steel exports rose compared to April exports. From January to May this …
China’s steel exports increased by 24.7% during January-May 2024 Read More »
Obstacles to the steel factory rehabilitation project in Basra Governorate
On Sunday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting on the steel factory rehabilitation project in Basra Governorate, affiliated with the General Iron and Steel Company. During the meeting, Al-Sudani was briefed, according to a statement by his media office, on the progress of work related to the rehabilitation and operation of …
Obstacles to the steel factory rehabilitation project in Basra Governorate Read More »
Rebar prices in Egypt June 10, 2024
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,000 – 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 38,500, Egyptian Steel EGP 40,600, Ashry Steel EGP 37,500. Garhy Steel EGP 38,500, Misr Steel EGP 36,500, El …
Turkey’s wire rod exports increase by 149.5% in January – April 2024
In April this year, Turkey (turkey)’s wire rod (wire-rod) exports amounted to 40,979 metric tons, down by 70.1% compared to March and up by 52.6% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $25.35 million, decreasing by 70.0% compared to …
Turkey’s wire rod exports increase by 149.5% in January – April 2024 Read More »