According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), in March this year Turkey’s foreign trade deficit decreased by 12.4% to $7.34 billion compared to March 2023. In the January-March period this year, Turkey’s foreign trade deficit went down by 41.5% year on year to $20.34 billion. In March, Turkey’s …
Turkey’s steel export value up 19.1% in January – March 2024 Read More »
South Korean steelmaker POSCO started maintenance of blast furnace No. 4 in Pohang in late April and plans to resume production at this unit at the end of June this year, Kallanish reports. Investments in the modernization of BF No. 4 will amount to KRW 530 billion ($385 million). The overhaul is aimed at restoring …
POSCO starts modernization of blast furnace No. 4 in Pohang Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 40,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 40,500, Ashry Steel EGP 39,500. Garhy Steel EGP 40,300, Misr Steel EGP 37,500, El …
Ezz Steel Company announced price stability starting May 1, 2024 for the second 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
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Emirates Arkan Company announced that it will keep unchanged the prices of rebar for May production (10-40 mm) at 2,744 dirhams ($747) per ton CPT Abu Dhabi and 2,752 dirhams ($749) per ton CPT Dubai, Sharjah and the Northern Emirates. The above prices do not include 5% VAT. The factory’s decision to keep prices unchanged …
Emirates Steel Arkan keeps rebar prices stable despite market challenges Read More »
Saudi Iron and Steel Company (Hadeed) has announced that it will maintain current prices for rebar and wire rod for its May output, marking the third consecutive month of price stability. The price of rebar (12-32 mm) will remain at 2,350 riyals ($626) per ton. While wire coils (6.5-16 mm) will continue to be offered …
Saudi Iron and Steel Company announces rebar prices for May without change Read More »
HSBC expects the average price of iron ore to rise above $100 per ton this year, despite the real estate crisis in China hurting the outlook for steel demand in the country. Howard Lau, an analyst at the bank, said: We do not expect a significant increase in iron ore production by the major producers, …
HSBC: The average price of iron ore will exceed $100 in 2024 Read More »
The meeting of the 128th regular session of the Board of Directors of the Arab Iron and Steel Union and the 57th regular session are scheduled to be held during the period May 19-20, 2024 in the city of Algiers – Republic of Algeria at the Eurasian Hotel – Algeria at the invitation of the …
Al Yamamah Steel Industries Company announced the start of commercial operation of the first phase of the expansion of the Jeddah Pipe Factory during the current month of April. In a statement today on Tadawul, the company expected that the financial impact of the expansion of the Jeddah Pipe Factory would be reflected on the …
According to the prices announced in the global steel markets, scrap prices amounted to $387/ tonne, $3 up compared to last week’s prices. and iron ore prices $119/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 500– 530 Dollars per tonne, while it was between 500– 540 dollars …
The Iron and Steel for Mines and Quarries announced that it achieved total sales in the month of last March amounting to 34.242 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during the month of March amounted to 34.232 million pounds. The company …
Egypt: Iron and Steel for Mines and Quarries sells worth 34.24 million pounds in March Read More »
Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announces its recognition as a 2024 Steel Sustainability Champion by the World Steel Association (worldsteel). This prestigious accolade, now in its seventh year, celebrates companies showcasing exemplary commitment to sustainable development within the global steel industry. Emirates …
Emirates Steel Arkan Recognized as “2024 Steel Sustainability Champion” Read More »
The Arab Iron and Steel Union held the second meeting of the Technical Committee on April 21-22, 2024 in Jeddah, Kingdom of Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, the technical data collected from Arab steel companies was studied …
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, unchanged from last week’s prices. and iron ore prices $117/ tonne, $6 up compared to last week’s prices. While the prices of billets ranged between 500– 540 Dollars per tonne, while it was between 500– 540 dollars per tonne …
President Joe Biden pledged that America would retain ownership of United States Steel Corp., and called for increasing tariffs on Chinese steel and aluminum, as part of his effort to win over union workers before the presidential elections scheduled for next November. “US Steel has had a distinguished status as an American company for more …
Biden pledges that America will retain ownership of US Steel Read More »
AL- Hadeed Foundation for Economic Development Iraq AL- Hadeed Foundation for Economic Development is an association of iron and steel manufacturers in Iraq that was established in accordance with the Non-Governmental Organizations Law No. 12 of 2010 to work on the economic development of the iron and steel industry and diversify its products in a …
Rebar prices in the UAE markets moved in a narrow range during the first quarter of 2024, ranging around 2,745 dirhams/ton, compared to an average of 2,538 dirhams/ton during the same period in 2023, an increase of 8%. Prices reached levels of 2,680 dirhams/ton in January of this year, while they ranged around 2,734 dirhams/ton …
UAE: Rebar prices rise by 8% during the first quarter of 2024 Read More »
The price of iron ore is expected to relapse to $100 per ton again by the end of this year, before falling further to reach $85 per ton in 2025, in light of the worsening Chinese housing market crisis, according to estimates by Capital Economics. Declining steel production and combating emissions from highly polluting ore …
Price of iron ore may fall to $100 per ton again at the end of 2024 Read More »
US President Joe Biden called for increasing customs duties on steel imported from China by three times “to protect American producers from the flood of cheap imports coming from Beijing.” This step reflects the intersection of Biden’s international trade policy with his efforts to attract voters in Pennsylvania, which is likely to play a pivotal …
US intends to increase duties 3 times on imports of Chinese steel and aluminum Read More »
In March, China’s finished steel exports amounted to 9.888 million mt, up 37.9% month on month, according to the latest data released by China’s General Administration of Customs (GACC). The finished steel exports in March hit the highest level since July 2016, when they had totaled 10.3 million mt. The strong exports caused market players …
China’s steel exports almost hit 10 million mt in March, highest since July 2016 Read More »
It is expected that the US and British sanctions on Russian metals will consolidate China’s position as a last resort for purchasing basic goods from Russia, while enhancing Shanghai’s role as a center for determining prices for metals that are extremely important to the global economy. The London Metal Exchange’s ban on newly produced Russian-origin …
New metal sanctions strengthen Russia’s dependence on China Read More »
The Libyan Iron and Steel Company signed a memorandum of understanding with the Italian company Danieli to launch a project to implement a direct reduction plant. The Libyan company made the statement through its official Facebook account. The factory will produce two million tons of sponge iron and hot-molded iron annually. Sponge or hot-molded iron …
Ezz Steel Company explained in a statement to the Egyptian Stock Exchange that it achieved losses amounting to 716.530 million pounds during 2023, compared to profits amounting to 6.647 billion pounds during the comparative period of 2022, affected by its losses from currency differences amounting to 30.9 billion pounds. According to the company’s disclosure, taking …
The profits of Al-Jazeera Steel Company, which operates in the iron pipe industry, rose to 1.82 million Omani riyals (15 baisa/share) at the end of the first quarter of 2024, compared to profits of 1.49 million riyals achieved in the same period in 2023, as the following table shows: income list Period First Quarter 2023 …
Al Jazeera Steel’s profits increased to 1.82 million riyals by the end of َQ1of 2024 Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 46,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 46,500, Ashry Steel EGP N/A, Garhy Steel EGP 40,300, Misr Steel EGP 38,000, …
The Arab Iron and Steel Union is scheduled to hold the second meeting of the Union’s Technical Committee on April 21-22, 2024 in Jeddah, Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, it is scheduled to study the technical data …
Arab Iron and Steel Union holds the second technical committee meeting in Saudi Arabia Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, unchanged from last week’s prices. and iron ore prices $111/ tonne, $11 up compared to last week’s prices. While the prices of billets ranged between 500– 540 Dollars per tonne, while it was between 500– 590 dollars per tonne …
The World Steel Organization expected global steel demand to rise by 1.7 percent to 1.793 billion metric tons during the current year, driven by increased demand in India as Chinese demand continues to decline. The report indicated that after two years of decline and severe market fluctuations following the Corona pandemic, there are clear signs …
Report : Global steel demand is expected to grow by 1.7% in 2024 Read More »
The US Justice Department has opened an expanded antitrust investigation into Nippon Steel’s $14.1 billion takeover bid for United States Steel Corp, creating additional legal hurdles to completing the deal, according to people familiar with the matter. On command. Regulators at the ministry are seeking more information for antitrust reasons, according to the people, who …
US opens an expanded investigation into a major acquisition deal in the steel sector Read More »