The increased import duties on flat steel products in Turkey came into effect on May 1. Additional import duties on non-alloy hot-rolled steel coils were increased from 9% to 15%, while hot-rolled steel coils were raised from 6% to 13%. Import duties on sheets have been raised by 9%, 10% and 15% to reach 15-20%, …
Turkey’s increased tariffs on flat steel imports come into effect on May 1 Read More »
In March this year, iron and steel products exports reached 3 million tonnes in Japan, up 14.1% compared to February and down 4.7% compared to March 2022, according to customs statistics from the Japan Iron and Steel Federation (JISF). From January to March this year, Japan’s iron and steel product exports amounted to 8.09 million …
Japan’s steel exports decreased from January to March Read More »
Saudi Arabia is heading to establish the most substantial integrated steel plate manufacturing Complex in Saudi Arabia, after Saudi Aramco, the global company in the field of energy and chemicals, and Baoshan Iron and Steel Co., Ltd. (Baosteel), the Chinese steel conglomerate, and the Public Investment Fund, announced Signing a shareholder agreement to implement the …
Iron and Steel Company for Mines and Quarries announced that it achieved total sales during March, amounting to 33.14 million EGP. In a statement to the Egyptian Stock Exchange today, the Company stated that Bahariya Oasis mines sales in March amounted to 33.1 million EGP. The Company added that Bani Khaled-Samalot quarries’ sales value amounted …
Egypt: 33.1 million EGP of iron and steel sales to mines during March Read More »
Sider El Hadjar Company, affiliated to Sider Group, affiliated to Imetal Group, announced that the Company exported a shipment of first-quality steel coils estimated at 10,000 tonnes through Annaba port to Italy. It also previously announced an export of 380 tonnes of BBLC flat steel coils to Tunisia, and they were transported by land via …
Algeria: Sider El Hadjar exports 10,000 tonnes of steel coils to Italy Read More »
The World Steel Organization (worldsteel) has released its short-term outlook (SRO) for 2022 and 2023, in which the organization expects steel demand to grow by 0.4% in 2022 to reach 1,840.2 million tons after a 2.7% increase in 2021 In 2023, steel demand is expected to grow by 2.2% to reach 1,881.4 million tonnes. These …
World Steel Organization: Expectations for global steel demand growth of 2.2% in 2023 Read More »
According to the daily follow-up of iron prices in Egypt, rebar steel prices ranged between 32,050/40,600 EGP, EWX, as some companies fixed or raised their prices compared to last week. Ezz Steel prices amounted to 32,135 EGP, Suez Steel 32,050 EGP, Beshay Steel 38,500 EGP, El Marakby Steel 38,500 EGP, Egyptian Steel 32,050 EGP, Garhy …
The latest update on rebar prices in Egypt is “May 1, 2023” Read More »
Ezz Steel Group announced the flat steel prices for May, unchanged for the third month in a row, at 34,485 EGP per tonne, EXW, including value-added tax. Statement including VAT Flat Steel 34,485
Board of Directors Chairman, “Dr Mohamed Abdul Malik El-Faqih”, received His Excellency the Minister of Labour and Rehabilitation, Engineer “Ali Al Abed Al-Reda” at the headquarters of the Libyan Iron and Steel Company, as part of the joint preparations for the celebration of Labour Day celebration, the first of May, which will be an official …
The Minister of Labour and Rehabilitation visits the Libyan Iron and Steel Company Read More »
Brazilian iron ore mining company Vale reported net profits of $1.88 billion for the first quarter of 2023, compared to $4.48 billion in the same period in 2022 and $3.74 billion in the fourth quarter of 2022. Compared to the fourth quarter of 2022, net sales revenue decreased by 29.4% to $8.43 billion, production costs …
A significant drop in Vale’s net profit during the first quarter of 2023 Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute, in March this year, the value of Türkiye iron and steel imports increased by 1.1% yearly, reaching $2.61 billion. In the given month, iron and steel ranked as the third most valuable product imported from the country. From January to March this …
Türkiye’s steel imports declined by 24.8% during January-March 2023 Read More »
Emirates Steel Arkan said it had not reached any agreement regarding any possible acquisition deal in response to press reports that circulated during the past 48 hours. It stated that the discussions related to the acquisition deal mentioned in the media are still in very early stages, stressing that it will announce any material information …
According to the prices announced in the global steel markets, scrap prices reached $403/t, down by $12 from last week, and iron ore prices were $106/t, down by $4 from a week ago. However, steel squares – billets – ranged between $540-575 per tonne, while it was between 545-580 dollars per tonne last week, and …
Iron and steel prices in the last week of April 2023 Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute, in March this year, Türkiye’s foreign trade deficit increased by 0.9% to $8.34 billion compared to March 2022. From January to March of this year, Türkiye’s foreign trade deficit increased 30.7% year-on-year to $34.69 billion. In March, Türkiye iron and steel exports …
Türkiye’s steel exports declined by 49.3% during January-March 2023 Read More »
Oil prices fell by 2% to their lowest levels after two gain sessions, as deepening fears of an economic slowdown and the strengthening dollar outweighed hopes of higher Chinese demand. Brent crude fell by $1.96, or 2.4%, to settle at $80.77 a barrel, its lowest close since March 31, before OPEC announced plans to cut …
In March of this year, US steel imports increased to 2.61 million tonnes, or 14.2%, compared to February 2023, according to the American Iron and Steel Institute (AISI). In March, the finished steel products import volume amounted to 1.91 million tonnes, an increase of 9% compared to February 2023. From January to March 2023, US …
In March this year, Japan’s crude steel production was up by 8.2 per cent compared to the previous month and down by 5.9 per cent compared to March 2022, to 7.49 million tonnes, according to data released by the Japan Iron and Steel Federation (JISF). Meanwhile, in the given month, Japan’s pig iron production totalled …
Japan’s steel production increased by 8.2% in March Read More »
According to the daily follow-up of steel prices in Egypt, rebar steel prices ranged between 32,050 EGP – 38,760 EGP, EXW, as prices were fixed compared to last week. Ezz Steel prices amounted to 32,135 EGP, Suez Steel 32,050 EGP , Beshay Steel 38,500 EGP , Elmarakby Steel 38,500 EGP , Egyptian Steel 32,050 EGP , …
The latest rebar price update in Egypt is on 26 April 2023 Read More »
Bloomberg news agency reported that Emirates Arkan Steel Company is studying the possibility of investing in ThyssenKrupp Steel Works and may make a formal offer in the coming months. The agency quoted sources familiar with the matter as saying that one of the options offered is the acquisition of a minority stake in ThyssenKrupp Steel …
Emirates Steel Arkan is considering buying a stake in ThyssenKrupp Steel Read More »
China Iron and Steel Association (CISA) announced that the average total daily raw steel production of large and medium-sized steel enterprises in China in mid-April (11-20) of this year amounted to 2.2898 million tonnes, down by 1.38% compared to early April (1-10) from this year. In early April this year, the average daily raw steel …
China’s daily steel production fell by 1.38% in mid-April Read More »
In February this year, Türkiye’s cold-rolled steel flat imports(CRC) amounted to 57,296 tonnes, an increase of 4.5 per cent compared to February last year and a decrease of 17.2 per cent compared to January 2023, according to preliminary data provided by the Turkish Statistical Institute (TUIK). In terms of value, the total revenues from these …
Türkiye’s cold-rolled flat steel imports increased by 24.3% in February Read More »
Danieli announced that ArcelorMittal (AM/NS) has selected advanced processing technologies from Danieli Automation to upgrade three slab-making machines at its n° 1 steelmaking plant in Hazira, India. The supply scope includes tier 2 systems consisting of process control models and production tracking capabilities. The bespoke models will manage the cast slab cooling process and quality …
Danieli upgrades three slab-making machines for ArcelorMittal India Read More »
After four months of price hikes, Emirates Arkan Steel announced rebar prices for May at AED 2,541 per tonne (US$692 per tonne) CPT Abu Dhabi and AED 2,549 per tonne (US$694 per tonne) CPT Dubai. As prices rolled back to March levels and decreased from April by 129 dirhams per tonne ($35 per tonne), owing …
Emirates Steel Arkan announces a descend in rebar prices in May Read More »
According to Reuters, the German industry will need investments of about 52 billion euros to get closer to climate neutrality by 2050, according to a study conducted by the German investment group Allianz Trade. According to the study, the steel industry ranks first among the sectors that will need €16.7 billion in investment for climate …
Germany’s steel industry requires investments of €16.7 billion to decarbonise by 2050 Read More »
Iron ore prices fell to a four-month low amid exacerbating concerns about the global economy and oversupply. Likewise, lower steel production and demand continued to weigh on raw materials. Iron ore prices fell by 62% to reach $110/t CFR, which was attained on December 20, 2022. The main reason for the decline in prices across …
Iron ore prices drop to $110/tonne due to macroeconomic concerns Read More »
In March of this year, China’s rebar production, wire coil and welded pipe reached 23.284 million tonnes, 13.533 million tonnes and 6.456 million tonnes, up 12.1 per cent, 9.7 per cent, and 20.4 per cent, respectively, year on year. From January to March, China’s total rebar production reached 57.16 million tonnes, up 1.6 per cent. …
China’s rebar production increased from January to March 2023 Read More »
Industrial data showed that China’s steel sector witnessed an expansion in production in the first quarter of this year. From January to March, crude steel production rose 6.1 per cent year-on-year to 262 million tonnes, according to the China Iron and Steel Association (CISA). The data showed that iron ore production increased by 7.6 per …
China’s steel production increased in the first quarter of this year Read More »
According to preliminary data announced by the World Steel Organization on world production (63 countries) during March 2023, crude steel production amounted to 165.1 million tonnes, an increase of 1.7% compared to March 2022 production. Africa produced 1.4 million tonnes in March 2023, an increase of 8.4% compared to March 2022. Asia and Oceania 124.8 …
World crude steel production increased by 1.7% in March 2023 Read More »
According to the prices announced in the global steel markets, scrap prices reached $418/t, down $12 from last week. Iron ore prices were $110/t, down $9 from last week, while steel billets ranged between $545-580 per tonne, which were Between 550 – 590 dollars per tonne in the third week of April, and rebar steel …
Iron and steel prices in the fourth week of April 2023 Read More »
Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and President-designate of the «COP28», concluded a two-day visit to the People’s Republic of China. H.E. held a series of meetings with Ding Xuexiang, the First vice Premier of the People’s Republic of China. Zhao Chenxin, Vice Chairman of the National Development and …
An Emirati-Chinese understanding to achieve climate qualitative progress during COP 28 Read More »