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
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
Optimism about strong demand raises oil prices Read More »
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 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
Rebar prices in Egypt April 1, 2024 Read More »
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 »
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
Steel prices in the last week of March 2024 Read More »
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
US steel imports down 3.3% in February 2024 Read More »
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 »
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
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 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
Rebar prices in Egypt March 25, 2024 Read More »
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 »
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 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 »
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
Steel prices in the fourth week of March 2024 Read More »
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 »
Eletrobras, the foremost electric power company in Latin America, and Paul Wurth, a brand of the SMS group, officially entered into a Memorandum of Understanding (MoU) to collaborate in the renewable hydrogen (H2) production and use in industrial processes in Brazil. A 10 MW plant for green H2 and O2 production will be realized in
According to export data from the US Department of Commerce, US exports of rebar totaled 17,939 mt in January 2024, up 28.3% from December but down 11.5% from January 2023. By value, rebar exports totaled $14.8 million in January, compared to $11.4 million in the previous month and $18.1 million the same month last year.
US rebar exports up 28.3% in January 2024 Read More »
Chinese steel associations are calling for a curb on steel production to curb the rapid fall in rolled steel prices that has been observed recently due to lower-than-expected demand and weak margins at mills along with high inventories. Some associations have already announced plans to reduce steel production. In particular, on March 7, Yunnan province
China’s steel associations call for limiting steel production Read More »
Egypt’s imports of iron and steel declined by 17.8% during 2023, to record about $4.216 billion, compared to $5.133 billion during 2022, accounting for 5.1% of total Egyptian imports during this year. The data of the Central Agency for Public Mobilization and Statistics explained. 10 countries accounted for 83.5% of Egypt’s total iron and steel
Egypt’s steel imports decreased by 18% to $4.2 billion in 2023 Read More »
Arab Iron and Steel Union (AISU) will hold its annual Summit “16th Arab Steel Summit” on October 2023 in Cairo – Egypt, which acquires special importance to what the Steel Arab Industry witnesses as changes in the light of perturbation that encounter the steel markets in different regions in the world. Conjunction with the work of
16th Arab Steel Summit Read More »
According to the prices announced in the global steel markets, scrap prices reached $375 per tonne, the same as last week’s prices, and iron ore prices reached $108 per tonne, an increase of $5 over last week’s prices, while the steel billet squares prices ranged between 525-570 dollars per tonne, while they were between 520-560
Iron and steel prices, the third week of May 2023 Read More »
According to China’s National Bureau of Statistics, from January to April 2023, China’s iron ore production reached 314,382 million tonnes, up 8% year-on-year. In April, China’s total iron ore production amounted to 75.096 million tonnes, an increase of 0.7% compared to April of 2022, while it decreased by 13.1% monthly. Iron ore import prices hit
China’s iron ore production increased by 8% during the January-April period Read More »
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the State, Deputy Prime Minister, and Minister of the Presidential Court, witnessed the celebration of the 17th edition of the Middle East Railway Conference and Exhibition 2023 in Abu Dhabi. His Highness said that the wise leadership of the UAE pays special attention to
Mansour bin Zayed : Railways support the economy, investment Read More »
According to the daily follow-up of steel prices in Egypt, rebar steel prices ranged between 32050 EGP – 39500EGP, EXW, as a number of companies kept the steel prices unchanged, while some others reduced them compared to last week. Ezz Steel prices reached 32,135 EGP and Suez Steel 32,050 EGP and El -Marakby 38,500 EGP,
The latest update on rebar steel prices in Egypt is May 16, 2023 Read More »
As announced by China’s National Bureau of Statistics (NBS), from January to April this year, the value-added industrial output of China’s ferrous metal smelting and rolling sector registered a 5.5 per cent year-on-year rise. 0.4 percentage points slower than the increase in the first three months of this year. In April alone, the value-added industrial
China’s steel sector industrial output rose 5.5% in the January-April period Read More »
The Arab Iron and Steel Union held the meetings of the Board of Directors No. 126 and the General Assembly No. 56 in Dubai, United Arab Emirates, at the Intercontinental Dubai Festival Hotel, on the 14th and 15th of May, at the kind invitation of the Emirates Steel Arkan Company, in the presence of representatives
The conclusion of the work of the Board of Directors and the General Assembly of ِAISU Read More »
Within the framework of the goals of the Arab Iron and Steel Union, interest in human development and raising the administrative, organizational and technological skills of engineers and technicians in the field of iron and steel. Calculation of roller lanes The training course deals with the following topics: Reheating ovens and their defects and how
According to the prices announced in the global steel markets, scrap prices reached $375/tonne, down $15 from last week. Iron ore prices reached $103 tonnes, the same price as last week, while steel squares – billets – prices ranged between $520-560/tonne, while they were Between 530-575 dollars per tonne in the past week, and rebar
Iron and steel prices for the second week of May 2023 Read More »
PTI has received an order from Qatar Steel to supply SwingDoorTM equipment for the development of the company’s electric furnace. The new SwingDoorTM technology will help improve slag foam control by keeping the slag door closed for almost the entire heating period. And the slag door will only be opened for annealing temperature sampling and
Qatar Steel develops the SwingDoorTM electric oven in cooperation with INTECO PTI Read More »