Arab Steel Summit

Arab Steel Summit

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Egypt: Iron and steel mines target 145 million EGP in profits during 2023/2024

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 …

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Rebar prices in Jordan for April 2023

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 / …

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Ukraine’s flat steel exports increased by 67% in March

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 »

Algeria mines : Several transformational units will enter into service “soon”

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 …

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Oil prices stabilize amid Chinese data anticipation

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 …

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The last update of rebar prices in Egypt is April 18, 2023

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 »

Rebar prices decreased in the Kingdom of Saudi Arabia in March 2023

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 …

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China plans to reduce steel production in 2023

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 …

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Newsletter 15-2023

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Download PDF newsletter &nbsp . . . You do not have permission to access the content If you have a valid account on the site, Login | or Signup Username Password Login Types of packages Free Users Site Member AISU Members Members Members 🟢 🟢 🟢 News North Africa News 🟢 🟢 🟢 Gulf Area …

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Algerian Qatari Steel exports 320,000 tonnes of its products during the first quarter of 2023

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 …

Algerian Qatari Steel exports 320,000 tonnes of its products during the first quarter of 2023 Read More »

POSCO from Korea and Honda from Japan are collaborating to achieve carbon neutrality

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 …

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Iraq: General Company for Iron and Steel announces the installation work commencement of the steel plant equipment

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 …

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Egypt: The Minister of Business Sector witnesses the signing of a memorandum of understanding for the development of El-Nasr Pipes Company

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 …

Egypt: The Minister of Business Sector witnesses the signing of a memorandum of understanding for the development of El-Nasr Pipes Company Read More »

Türkiye begins the fourth revision of AD duties on steel pipes and tubes from 6 countries

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 …

Türkiye begins the fourth revision of AD duties on steel pipes and tubes from 6 countries Read More »

Steel prices in the third week of April 2023

According to the prices announced in the global steel markets, scrap prices reached $430/tonne, down by $8 from last week, and iron ore prices $119/tonne, down by $1 from last week, while steel billet prices ranged between $550-$590 per tonne, which were between $555-$600 per tonne in the second week of April. The rebar steel …

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IMF forecasts for the economies of Arab countries for the year 2023

The International Monetary Fund has slightly lowered its global growth forecast for 2023 as the pace of interest rate hikes slows, but warned that severe financial system disruptions could drive output to near-stagnation levels. The fund stated in its latest report on global economic prospects that the risks of spreading infection in the banking system …

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IMF : China and India will account for half of the total growth of the global economy this year

The International Monetary Fund ( IMF ) said that China and India will together account for about half of the total growth of the global economy this year, which confirms the growing role of Asia in the global economy. The fund currently expects the Asia-Pacific region to grow at a rate of 4.6% during the …

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UAE is collaborating with Australia to promote decarbonisation research

Emirates Global Aluminum announced its collaboration with Australia’s HILT CRC to advance research in the alumina refining process decarbonisation. Australia’s HILT CRC is a collaborative research centre that brings together industry, researchers, and government to deliver technological innovations for the decarbonisation of steel, iron, alumina, and cement industries. Australia is the world’s second-largest alumina producer …

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OHMI in Japan orders an energy-efficient, latest-generation ring rolling machine from SMS group

Japanese forging company Ohmi Press Works and Forging has placed an order with SMS group for a RAW 500/400-4500/800 EH radial-axial ring rolling machine. This ring rolling machine is scheduled to go into operation in May 2024 at OHMI’s Shigaraki plant, providing larger, heavier rings for a wide range of applications in the automotive, shipbuilding, …

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Ukraine’s production of rolled products increased by 29.9% in March

In March 2023, Ukraine’s production of rolled products increased by 29.9% compared to last February and 69.5% compared to March 2022, reaching 434,000 tonnes. Cast iron production increased in March 2023 by 32% compared to February 2023 and 112.8% compared to March 2022, reaching 466,000 tonnes. Steel production for this month reached 527,000 tonnes, a …

Ukraine’s production of rolled products increased by 29.9% in March Read More »

Oman and Japan cooperate to establish a direct reduced iron plant with a production capacity of 5 million tonnes

The Public Authority for Special Economic Zones and Free Zones signed a memorandum of understanding with the Japanese companies -Kobe Steel- and -Mitsui and Partners Ltd to establish a reduced iron plant in the Special Economic Zone at Duqm with a production capacity estimated at 5 million tonnes of reduced iron annually. Likewise, the two …

Oman and Japan cooperate to establish a direct reduced iron plant with a production capacity of 5 million tonnes Read More »

US steel exports increased by 7.9% in February 2023

In February 2023, US steel exports increased by 7.9 per cent from January to 713,250 tonnes and an increase of 8.2 per cent compared to February 2022, according to export data from the US Department of Commerce. In terms of value, US steel exports totalled $1.25 billion in February, compared to $1.23 billion in January …

US steel exports increased by 7.9% in February 2023 Read More »

Steel.. and testing the strength of China’s recovery

Press Articles / By user

Clyde Russell After a stellar start to the year, China’s two leading steel and iron ore sectors are slowly losing momentum, raising concerns about the strength of the recovery of the world’s second-largest economy. Moreover, while prices across the steel complex have fallen in recent trading sessions, China’s iron ore imports appeared to be declining …

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Hydrogen sector.. and the trillion-dollar opportunities

Press Articles / By user

Javier Doblas In pursuit of the Paris Agreement’s goal of reducing global greenhouse gas emissions, and limiting the rise in global temperatures to no more than 1.5°C above pre-industrial levels, replacing fossil fuels with renewable energy is critical to achieving this global target. However, the electricity generated using renewable energy sources will not be sufficient …

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The last update of rebar prices in Egypt is April 10, 2023

According to the daily follow-up of steel prices in Egypt, the prices of rebar ranged between 32,050 EGP – 38,500 EGP, as some companies fixed their prices and some raised their prices compared to last week. The prices of Ezz Steel amounted to 32,135 EGP , Suez Steel 32,050 EGP, Beshay Steel 38,500 EGP , …

The last update of rebar prices in Egypt is April 10, 2023 Read More »

US steel imports declined in January-March 2023

Based on the latest Department of Commerce Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reports that steel import permit applications for March totalled 2,705,000 net tons (NT)*. This represents an increase of 23.1% over the 2,198,000 declaration tons recorded in February and 18.2% from the total conclusive imports …

US steel imports declined in January-March 2023 Read More »

Newsletter 14-2023

PDF News / By user

Download PDF newsletter &nbsp . . . You do not have permission to access the content If you have a valid account on the site, Login | or Signup Username Password Login Types of packages Free Users Site Member AISU Members Members Members 🟢 🟢 🟢 News North Africa News 🟢 🟢 🟢 Gulf Area …

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Egypt’s Steel consumption increases in 2022

During 2022, Egypt’s rebar steel consumption increased to 7.895 million tonnes, compared to a consumption volume of 7.344 million tonnes in 2021, with a growth rate of 8%, as a result of the increase in consumption directed to private construction. However, high inflation rates began to limit this. The consumption rate in the fourth quarter …

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Steel prices in the second week of April 2023

According to the prices announced in the global steel markets, scrap prices reached $438/tonne, down by $2 from last week, and iron ore prices $120/tonne, down by $7 from last week, while steel billet prices ranged between $555-$600 per tonne, which were between $575 – $620 per tonne in the first week of April. The …

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Rebar steel prices increased in the UAE in April

Although the rebar market typically slows down during the month of Ramadan, prices in the UAE are on the rise due to the high demand. As “Emirates Steel – Arkan” the group announced rebar steel prices for its authorized distributors in the local market for April at 2,669 dirhams per tonne ($727 per tonne) CPT …

Rebar steel prices increased in the UAE in April Read More »