Arab Steel Summit

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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

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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

Cooperation between Qatar Energy and Japanese steel companies to CCS through the Blue Ammonia Plant Read More »

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

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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

US steel exports up 6.0% in April 2024 Read More »

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

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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

Rebar prices in Egypt June 10, 2024 Read More »

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 »

Steel prices in the second week of June 2024

According to the prices announced in the global steel markets, scrap prices amounted to $382/ tonne, $3 up compared to last week’s prices. and iron ore prices $109/ tonne, $7 down compared to last week’s prices. While the prices of billets ranged between 490– 525 Dollars per tonne, while it was between 490– 525 dollars

Steel prices in the second week of June 2024 Read More »

Ezz Steel Tops Arab Producers List in 2023 with 6.2 million tons of crude steel output

In the latest report of Worldsteel , which was released on June 6, 2024 and includes a list of the largest steel producing companies and their ranking according to production in 2023. Ezz Steel ranked first among Arab Steel producers with 6.2 million tons of crude production, followed by Hadeed (SABIC) with 5.5 million tons

Ezz Steel Tops Arab Producers List in 2023 with 6.2 million tons of crude steel output Read More »

Tata Steel selects SMS group to spearhead decarbonization initiative with innovative Coke Oven Gas injection technology

Tata Steel Meramandali, Odisha, India, has taken a significant step in its journey towards decarbonization by placing an order with SMS group for the implementation of Paul Wurth Coke Oven Gas (COG) Injection Technology at their Blast Furnace (BF) #1. Coke oven gas is a byproduct that forms during the production of coke from coal

Tata Steel selects SMS group to spearhead decarbonization initiative with innovative Coke Oven Gas injection technology Read More »

Egypt: The Ministry of Industry supports iron and steel factories to produce green steel

Engineer Ahmed Samir, Minister of Trade and Industry, and Major General Abdel Majeed Saqr, Governor of Suez, discussed with representatives of 137 international companies specialized in the field of iron and steel manufacturing at the headquarters of the Suez Steel Company, affiliated with the Misr Steel Group, the investment opportunities available in the Egyptian market

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Cargill stops steel trading in China due to slowdown and real estate crisis

Commodity trading giant Cargill has halted its steel business in mainland China, after years of suffering due to a slowdown in activity amid the country’s real estate recession. The company halted steel trading this week, according to people familiar with the matter, who requested anonymity because the information is private. The move does not affect

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MoU between Emirates Steel Arkan and Delong Steel Group to build a factory for low-carbon emission raw materials

Emirates Steel Arkan, the largest local steel producer and market leader in the UAE, announced that it has signed a memorandum of understanding with China-based Delong Steel, in order to decarbonize its operations. Accordingly, and within the scope of the Memorandum of Understanding, the two companies will cooperate in building and operating a low-carbon raw

MoU between Emirates Steel Arkan and Delong Steel Group to build a factory for low-carbon emission raw materials Read More »

Latin America doubles tariffs on steel imports from China

Latin American countries are following in the footsteps of the United States and Europe by imposing heavy tariffs on Chinese steel imports, which represents a real test of the relationship between the two sides. A Bloomberg report stated that, due to the global shift towards protectionist measures and the influx of Chinese imports that threaten

Latin America doubles tariffs on steel imports from China Read More »

Egypt: AlGioshy Steel intends to establish a new production line worth one billion pounds

The Egyptian AlGioshy Steel Company is negotiating with several Italian companies, most notably Danieli and Cedar Engineering, to add a new production line during the next year at an investment cost ranging between 500 million and 1 billion pounds. Tarek AlGioshy , the company’s chairman, said in an interview with Al Arabiya Business that, in

Egypt: AlGioshy Steel intends to establish a new production line worth one billion pounds Read More »

$125 billion residential projects are under construction in the UAE by the end of Q1 of 2024

JLL Real Estate indicated, in its latest report on the performance of the construction market in the UAE during the first quarter of 2024, that despite the continuation of global challenges such as persistent inflation, high interest rates, and geopolitical tensions, the total value of construction projects that were not completed is expected to reach…

$125 billion residential projects are under construction in the UAE by the end of Q1 of 2024 Read More »

Jordan Steel announces the prices of rebar for June 2024

Jordan Steel Company announced rebar prices for June 2024, an increase of between 3 -10 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

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

ArcelorMittal’s decarbonization project in Germany receives funding approval

Robert Habeck, federal minister for Economic Affairs and Climate Action of Germany, has announced his approval for the funding for the decarbonization project to be implemented by Luxembourg-based steelmaker ArcelorMittal at its Bremen and Eisenhüttenstadt plants. By securing the approval, the steel giant will now be able to start decarbonizing its steel production in the

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Iron ore prices fell to their lowest level in 6 weeks due to fears of weak Chinese demand

Iron ore prices fell to their lowest level in 6 weeks, in light of investors’ concerns about the prospects for Chinese demand as the extended crisis in the real estate sector enters its third year. Iron ore futures prices in Singapore fell by 3.3% to $111.70 per ton during today’s trading, recording the lowest level

Iron ore prices fell to their lowest level in 6 weeks due to fears of weak Chinese demand Read More »

Rebar prices in Egypt June 03, 2024

Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,500 – EGP 35,800. 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 36,500,

Rebar prices in Egypt June 03, 2024 Read More »

Aramco signs contracts to supply pipes for its projects worth 3 billion riyals

Saudi Aramco signed several contracts with Group Five Pipe and Integrated Pipes for Industry to supply steel pipes for its projects, with a value of more than 3.1 billion riyals, according to two separate disclosures by the two companies on the Saudi stock market. Aramco is heading to raise up to $12 billion (44.8 billion

Aramco signs contracts to supply pipes for its projects worth 3 billion riyals Read More »