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
Oil prices fell to their lowest level in April Read More »
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
US steel imports rose 14.2% in March Read More »
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 »
The Ordinary General Assembly of the Iron and Steel Company for Mines and Quarries affiliated to the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, announced the approval of its estimated budget for the next fiscal year 2023-2024. The Iron and Steel Company for Mines and Quarries
Egypt: Iron and steel mines target 145 million EGP in profits during 2023/2024 Read More »
Rebar prices in Jordan have stabilized during April, without any changes from March prices, as rebar selling prices per tonne, grade 60, range between 465 and 485 dinars per tonne, without sales tax and between 555 and 575 dinars per tonne with tax. Grade Price without tax Price with tax Sales / tonnes Sales /
Rebar prices in Jordan for April 2023 Read More »
In March 2023, Ukraine’s flat steel products exports increased by 67.3% compared to February 2023, reaching 58.43 thousand tonnes. In monetary terms, these products’ exports increased by 61.4% monthly to reach $38.17 million and by 75.8% compared to March 2022, according to Government Customs Department data. In January-March 2023, Ukraine exported 122.89 thousand tonnes of
Ukraine’s flat steel exports increased by 67% in March Read More »
The General Manager of the “Algeria Mines” Complex, Mohamed Sakhr Harami, said in Algiers, that the Complex has begun the completion of several transformational units within the framework of the strategy for mineral materials valuation, some of which will enter into service in the coming days. Mr Harami explained, upon his appearance as a guest
Algeria mines : Several transformational units will enter into service “soon” Read More »
Oil prices stabilized in early trading today after falling by 2 per cent in the previous session, amid anticipation of Chinese economic data in search of economic recovery signs. Brent crude settled at $84.76 a barrel by 0004 GMT, while US West Texas Intermediate crude rose five cents to $80.88 a barrel. Prices fell yesterday
Oil prices stabilize amid Chinese data anticipation Read More »
According to the daily follow-up of steel prices in Egypt, the prices of rebar ranged between 32,050 EGP – 38,760 EGP , the factory land was delivered, as some companies fixed their prices and others raised their prices compared to last week. The prices of Ezz Steel amounted to 32,135 EGP , Suez Steel 32,050
The last update of rebar prices in Egypt is April 18, 2023 Read More »
According to the General Authority for Statistics, rebar steel average prices a tonne in the Kingdom of Saudi Arabia in March 2023 ranged between 2900.96 – 4147.23 Saudi riyals, with a decrease between -0.36% – 1.46% compared to February 2023 and a decrease between -5.82% – 22.42% compared to March 2022. Average prices and the
Rebar prices decreased in the Kingdom of Saudi Arabia in March 2023 Read More »
China, which accounts for more than half of global steel production, plans to prevent producers from increasing it above 2022 levels in light of the limited recovery after the pandemic. Bloomberg mentioned from familiar sources that China plans to notify steel producers at the end of this month, and it did not call for harsh
China plans to reduce steel production in 2023 Read More »
During the first quarter of this year, Algerian Qatari Steel exported 320,000 tonnes of its products (building steel, wire coils and slabs), at nearly $200 million, to various international markets. The Algerian-Qatari steel company’s export activities have developed significantly during the current year, which enabled it to win the bet that its products would reach
South Korean steelmaker POSCO and Japanese automaker Honda announced the start of a comprehensive partnership agreement to achieve carbon neutrality. Posco Group Chairman Choi Jeong-woo and Honda President Toshihiro Mibe attended the signing ceremony at the Posco Center in Seoul. Based on the agreement, discussions will revolve around environmentally friendly steel for carbon neutrality, the
POSCO from Korea and Honda from Japan are collaborating to achieve carbon neutrality Read More »
The General Company for Iron and Steel, one of the Ministry of Industry and Minerals formations in Basra Governorate in Iraq, announced the commencement of the installation work for the steel plant equipment and its engineering services. Abbas Hayal, the Company general manager, said in a statement that the Company has begun the process of
Engineer Mahmoud Esmat, Minister of Public Enterprise Sector, confirmed in a statement today that the ministry is seeking partnership with the private sector within the framework of the state ownership policy document, and that there is a clear investment map for projects and sectors, explaining that there is a directive to open the field and
According to the Turkish Official Gazette, on April 8, Turkey initiated the fourth revision of anti-dumping (AD) duties on steel pipes and fittings from Brazil, Bulgaria, China, India, Indonesia and Thailand and the respective products were classified under HS code 7307.19. In April 2018, the Turkish authorities made a final decision to extend AD anti-dumping