Protected: Arab Steel Magazine January – February 2024
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India’s steel exports and imports rise in fiscal year 2023-24
India’s steel imports were initially estimated at 8.32 million tonnes in FY 2023-24, up 38% year-on-year making the country a net importer of steel, data from the Joint Plants Committee (JPC) of the Ministry of Steel showed. According to the data, India’s steel exports were initially estimated at 7.48 million tonnes during 2023-24, an increase …
India’s steel exports and imports rise in fiscal year 2023-24 Read More »
Iron ore rises again above $100 amid expectations of increased demand
Iron ore rose – with futures rising above $100 per ton – amid speculation that demand may rise in China, the largest country with steel makers. Futures contracts rose more than 4% to trade near $103 a ton in Singapore, rebounding from a second straight weekly loss during which they reached their lowest level since …
Iron ore rises again above $100 amid expectations of increased demand Read More »
Competition Authority approves the completion of the economic concentration between the two companies, Hadeed and Al Rajhi Steel
The Board of Directors of the General Authority for Competition approved the completion of the economic concentration process between the Saudi Iron and Steel Company – Hadeed and Al Rajhi Steel Industries Company – Al Rajhi Steel. The authority explained in its account on the X platform. The approval was made after the Council reviewed …
Rebar prices in Egypt April 7, 2024
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,800 – 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 46,300, Misr Steel EGP 38,000, …
Egypt’s steel exports will increase by 65% in 2023
In 2023, Egypt witnessed a major boom in its iron and steel exports, rising by 65% year-on-year to reach $2.33 billion, a significant increase compared to $1.41 billion the previous year. According to a report issued by the Export Council for Building Materials, Refractories and Metals, Egyptian suppliers succeeded in penetrating the markets of 87 …
Egypt’s steel exports will increase by 65% in 2023 Read More »
Egypt: El Marakby Steel targets $110 million in exports in 2024
CEO of El Marakby Steel Company, Hassan El Marakby, said that the company aims to increase its export revenues during the current year by approximately 10%, to rise to $110 million if global markets improve in terms of demand and prices. At the very least, the company will seek to maintain last year’s revenues at …
Egypt: El Marakby Steel targets $110 million in exports in 2024 Read More »
Steel prices in the first week of April 2024
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, $4 down compared to last week’s prices, and iron ore prices $100/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 590 dollars …
Oil prices are above $90 per barrel amid repricing of geopolitical risks
The price of oil stabilized above $90 per barrel after escalating tensions in the Middle East led to a radical repricing of geopolitical risks. Fears are rising of a broader conflict in the region, with Israel’s increasing preparations for an attack by Iran in response to its targeting of the country’s diplomatic compound in Syria. …
Oil prices are above $90 per barrel amid repricing of geopolitical risks Read More »
Egypt: Suez Steel announces a decline in the prices of rebar
Suez Steel Company announced the prices of rebar starting from April 05, 2024, to become EGP 40,500 per ton, aa decrease of EGP 6,000. And flat steel, including value-added tax. Statement including VAT Rebar 40,500
Arcelormittal Nippon Steel India Selects Danieli For A New Pelletizing Plant
Indian steel producer ArcelorMittal Nippon Steel has awarded Danieli Corus an order for a new greenfield pellet plant project, to be implemented at the Visakhapatnam site, in India. This new travelling-grate pellet plant will increase ArcelorMittal Nippon Steel pellet production capacity in Visakhapatnam from 8 to 12 Mtpy. Pelletizing plant #3 is part of the …
Arcelormittal Nippon Steel India Selects Danieli For A New Pelletizing Plant Read More »
Egypt: Ezz Steel announces a decline in the prices of rebar and flat steel
Ezz Steel Company announced the prices of rebar starting from April 5, 2024, to become EGP 40,700 per ton, aa decrease of EGP 5,800. And flat steel, EGP 41,700 per ton, a decrease of EGP 8,620 EXW, including value-added tax. Statement including VAT Rebar 40,700 Flat Steel 41,700
Jordan Steel announces the prices of rebar for April 2024
Jordan Steel Company announced rebar prices for April 2024, unchanged from last month’s prices. The prices for Grade 60 EXW, between 420 and 432 dinars per tonne, excluding sales tax. However, with sales tax, it is between 500 and about 515 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes …
Jordan Steel announces the prices of rebar for April 2024 Read More »
Egypt: 19.1 million pounds in iron and steel sales to mines during February 2024
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during the month of February of 19.086 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during December amounted to 19.08 million pounds. She added that the sales value …
Egypt: 19.1 million pounds in iron and steel sales to mines during February 2024 Read More »
Emirates Green Metal establishes an steel recycling facility with investments of $100 million
Khalifa Economic Zones Abu Dhabi – Kizad Group and Green Metal Industries, based in the UAE, announced the signing of an agreement to develop a new facility for recycling scrap steel and manufacturing special steel products in Kizad. The factory will be developed with investments amounting to $100 million, and will rely on advanced technologies …
Optimism about strong demand raises oil prices
Oil prices rose amid signs that demand this year may be stronger than expected, while the Israeli offensive in Syria threatens to expand conflict in the Middle East. West Texas Intermediate crude advanced as much as 1.6% to trade above $84, reaching the highest intraday price since October 30. Industrial activity in China rebounded in …
Iron ore prices fell to their lowest levels in 10 months
Iron ore prices fell in Monday trading below the level of $100 per ton to record their lowest levels since May 2023, with the continued impact of the real estate sector crisis in China on demand, in addition to the abundance of supply enhancing pressure on prices. In Australia, which is the largest iron ore …
Iron ore prices fell to their lowest levels in 10 months Read More »
Rebar prices in Egypt April 1, 2024
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,500 – EGP 47,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP46,500, Bishay Steel EGP 47,000, El Marakby Steel EGP 43,500, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 46,300, Misr Steel EGP 39,000, El …
Turkey’s steel export value up 25.4% in January – February 2023
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), in February this year Turkey’s foreign trade deficit decreased by 44.2% to $6.77 billion compared to February 2023. In the January-February period this year, Turkey’s foreign trade deficit went down by 51.0% year on year to $12.95 billion. In February, Turkey’s …
Turkey’s steel export value up 25.4% in January – February 2023 Read More »
Steel prices in the last week of March 2024
According to the prices announced in the global steel markets, scrap prices amounted to $390 / tonne, $6 up compared to last week’s prices, and iron ore prices $99/ tonne, $8 down compared to last week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 590 …
US steel imports down 3.3% in February 2024
According to preliminary census data from the US Department of Commerce, US monthly steel imports in February 2024 decreased 3.3% from January to total 2,239,828 mt. A year-on-year comparison shows a 7.7% increase. In terms of value, US steel imports in February totaled $2.64 billion, compared to $2.88 billion in January and $2.82 billion in …
Riyadh Steel’s profits increased to 11.1 million riyals by the end of 2023
The profits of the Riyadh Steel Company, which is active in the steel industry and the sale of scrap, rose to 11.1 million riyals by the end of 2023, compared to 5.1 million riyals achieved during the same period in 2022. Summary of financial results (million) Item 2022 2023 Change Revenues 156.10 134.20 (14.0 %) Total income 16.31 …
Riyadh Steel’s profits increased to 11.1 million riyals by the end of 2023 Read More »
An agreement between Emirates Steel Arkan and SAP to enhance efficiency and sustainability
Emirates Steel, Arkan, signed an agreement with the global technology giant, SAP, with the aim of bringing together its operations in a unified cloud solution for enterprise resource planning, and increasing the flexibility and sustainability of its supply chain. Emirates Steel Arkan will adopt the “Rise with SAP” solution with the aim of transferring its …
Saudi Iron and Steel Company announces the stability of its rebar for April
The Saudi Iron and Steel Company (Hadeed) decided to keep the prices of rebar and wire stable for April, for the second month in a row. The company will continue to provide rebar (12-32 mm) at a price of 2,350 riyals ($626) per ton and wire rod (6.5 mm to 16 mm) at a price …
Saudi Iron and Steel Company announces the stability of its rebar for April Read More »
Rebar prices in Egypt March 25, 2024
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 47,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP46,500, Bishay Steel EGP 47,000, El Marakby Steel EGP 43,500, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 46,300, Misr Steel EGP 39,000, El …
Iron ore price records best weekly gains since September thanks to China’s outlook
Iron ore achieved its largest weekly rise in 6 months amid gradually increasing optimism about the chances of economic recovery in China, which is the largest crude consuming country. Chinese Premier Li Qiang downplayed the seriousness of the crises afflicting his country’s economy in a speech he delivered before the China Development Forum yesterday, Sunday, …
Iron ore price records best weekly gains since September thanks to China’s outlook Read More »
Report : Emissions in China’s steel industry increased by 13% in January-February 2024
Total emissions in China’s steel industry in January-February 2024 increased by 13% compared to the same period in 2023. This was reported by the China Steel Association (CISA). Emissions of sulfur dioxide per ton of steel amounted to 0.19 kg/t (-12.6% y/y), smoke and dust – 0.20 kg/t (-9.7% y/y), nitrogen oxide – 0.35 kg/t …
Report : Emissions in China’s steel industry increased by 13% in January-February 2024 Read More »
World’s crude steel production increased by 3.7% in February 2024
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 148.8 million tonnes (Mt) in February 2024, a 3.7% increase compared to February 2023. Africa produced 1.8 Mt in February 2024, up 8.1% on February 2023. Asia and Oceania produced 109.7 Mt, up 3.9%. The EU (27) produced 10.6 …
World’s crude steel production increased by 3.7% in February 2024 Read More »
Steel prices in the fourth week of March 2024
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, $4 up compared to last week’s prices, and iron ore prices $109/ tonne, $8 up compared to last week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 590 dollars …
Egypt recalculates petroleum subsidies in the 2024-2025 budget
The Egyptian government intends to recalculate petroleum subsidies in the budget for the next fiscal year 2024-2025, after moving the prices of all categories of gasoline and diesel last night, according to statements by Egyptian Finance Minister Mohamed Maait. About 72 hours ago, the Egyptian Ministry of Finance revealed some indicators of the 2024-2025 budget, …
Egypt recalculates petroleum subsidies in the 2024-2025 budget Read More »