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. …
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 …
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 »
Trade ministers of the Gulf Cooperation Council state, during their 64th meeting held today in Muscat, Sultanate of Oman, will discuss several topics on the agenda. Most notably, the developments in the negotiations of free trade agreements with countries and international blocs, discussing the challenges of intra-trade between the GCC countries, the work of the …
Gulf meeting discusses free trade agreements with international blocs Read More »
Emirates Steel Arkan announced growth in its revenues and profits during the first quarter of 2023. Net profit amounted to 152.2 million dirhams, compared to 72.6 million dirhams for the same period in 2022, an increase of 110%. Several factors contributed to achieving the upbeat performance for the first quarter of 2023, including the increase …
Emirates Steel Arkan doubled its profits during the first quarter of 2023 Read More »
Global scrap prices declined last week amid weak steel demand and uncertainty about the future economic outlook. With stagnant demand for steel, steel companies see little benefit in replenishing raw materials stocks and continue to pressure scrap prices. HMS 1/2 scrap prices in Turkey for May 1-8, 2023, decreased by 4.5% compared to the previous …
A look at scrap metal prices for the coming period Read More »
According to export data from the US Department of Commerce, monthly steel exports in March 2023 increased by 12.7% compared to February, reaching 804,182 tonnes, an increase of 5.1% compared to March 2022. In terms of value, US steel exports totalled $1.42 billion in March, compared to $1.25 billion in February and $1.43 million in …
Jordan Steel Company announced the rebar steel prices for May for 60-gauge steel on the factory grounds, loading the back of the car between 450 and 465 dinars per tonne without sales tax and with tax between 520 and about 540 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes Sales …
Jordan Steel announces rebar prices for May 2023 Read More »
Iron ore prices are still under pressure from lower demand caused by the weak production of several steel mills in China. This is due to some companies doing maintenance during this period to prevent losses with the markets’ uncertainty. The steel manufacturers have lost hope in China’s economic recovery and the resumption of the construction …
According to the daily follow-up of iron prices in Egypt, the prices of reinforcing steel ranged between 32,050 EGP- 39,500 EGP , EWX , as some companies fixed rebar prices, while some companies reduced rebar prices compared to last week. Ezz Steel prices amounted to 32,135 EGP, Suez Steel 32,050 EGP, Beshay Steel 38,500 EGP, …
The latest rebar price update in Egypt is on 8 May 2023 Read More »
The Saudi Ministry of Commerce said it had issued 17 licenses to export steel from the beginning of this year until the end of April (4 months). The ministry stated the total number of licenses issued since the steel export allowance amounted to 189, according to Al Eqtisadiah newspaper. The ministry pointed out that the …
Saudi Arabia: 17 licenses to export steel within 4 months Read More »
The International Monetary Fund expected the annual real GDP growth of the Gulf countries to grow by 2.9 per cent in 2023 and to 3.3 per cent in 2024. During a conference to launch the Regional Economic Outlook report for the Middle East and Central Asia for May 2023, the Fund stated that the Gulf …
Monetary Fund: Gulf economy may grow by 3.3% in 2024 Read More »
According to data from the China Iron and Steel Association, the pollution rate caused by major steel companies in China decreased during the first quarter of 2023. Wastewater total amount discharged by primary steel companies decreased by 16.39 per cent year on year, and sulfur dioxide emissions lowered by 15.75 per cent during the period, …
Steel companies’ pollution rate in China decreased during the first quarter of 2023 Read More »
Steel sector in Morocco managed to achieve strong results last year despite many challenges and the unfavourable global geopolitical situation due to the Russian-Ukrainian war, large fluctuations in prices and supply chains interruption. Steel industry benefited from the commercial activity recovery after controlling the Coronavirus pandemic and the increase in demand as of huge investments …
According to the prices announced in the global steel markets, scrap prices reached $390/t, down by $13 from last week, and iron ore prices were $103/t, down by $3 from a week ago. However, steel squares – billets – ranged between $530-575 per tonne, while it was between $540-575 per tonne last week, and the …
Iron and steel prices in the first week of May 2023 Read More »
ArcelorMittal Steel production, one of the largest steel producers in the world, increased by 9.8% in the first quarter of 2023 compared to the fourth quarter of 2022, reaching 14.5 million tonnes, while it declined by 11% compared to the same period last year, according to the published quarterly report on the Company’s website. Steel …
ArcelorMittal steel production increased by 9.8% in the first quarter of 2023 Read More »
On Thursday, the Minister of Industry and Pharmaceutical Production, Ali Aoun, stressed the need to control the modern iron and steel industry technologies and change management patterns in this field. During his work and inspection visit to his sector in Annaba province, accompanied by the Minister of Labour, Employment and Social Security, Faisal bin Taleb, …
Domestic prices in Kuwait remained unchanged for May, the third month in a row, and the country’s sole manufacturer of rebar offers its May supply at KD205/tonne ($666/tonne) EXW. Prices are indicated without 5% Value Added Tax in Kuwait. Kuwaiti dinar = 3.27 US dollars1
According to preliminary statistics data issued by the US Department of Commerce, the total US rebar steel imports amounted to 76,844 tonnes in March 2023, a decrease of 38.8 per cent from February and a decrease of 47.8 per cent from March 2022 levels. By value, total rebar imports amounted to $53.6 million in March …
Algeria tops the countries exporting rebar steel to the United States in March Read More »