Universal Rolling Company, the only rebar steel company in Bahrain, announced rebar steel prices for April at 255-257 Bahraini dinars/t ($ 676-681/t), EXW for all sizes, unchanged from its last level. Prices are adjusted based on the billet prices trend. The Company’s rebar production capacity is 275,000 tonnes per year, with sizes ranging from 8 …
During the past year, the consolidated financial statements of Ezz Steel Company showed an increase in the company’s profits by 23.19% on an annual basis. In a statement to the Egyptian Stock Exchange, the company stated that it achieved profits amounting to 6.64 billion pounds during 2022, compared to profits amounting to 5.39 billion pounds …
Ezz Steel profits rise 23% to EGP 6.6 billion in 2022 Read More »
The Ministry of Industry and Mineral Resources issued 85 industrial licenses last February, while 80 factories started production operations during the same period, with investments of 4.3 billion riyals. The ministry stated that the investment volume in new licenses amounted to 1.9 billion riyals. Small enterprises acquired most of them by 85.88 per cent, followed …
Touggourt – A new iron and metal conversion plant has entered the practical production stage in the municipality of Temacine, in the province of Touggourt, with a production capacity of 200,000 tonnes annually of various ferrous materials, after taking advantage of the measures to remove obstacles that were approved for investment projects, according to officials …
In 2022, global stainless steel production decreased by 5.2% compared to 2021, reaching 55.3 million tonnes. In 2022, Europe’s production decreased by 12.4% compared to 2021, especially in Ukraine, reaching 6.29 million tonnes. The United States production fell by 14.8% yearly, reaching 2.02 million tonnes. In Asia, excluding China and South Korea, stainless steel production …
World stainless steel production drops by 5.2% in 2022 Read More »
ArcelorMittal is investing $38.5 million for its coke plant’s modernization in Zdzieszowice, Poland. The upgrade includes three flue-gas denitrification units installation for the CHP cogeneration plant, which will significantly reduce nitrogen oxide emissions and provide heat for the CHP plant, which uses coking gas, to more than 7,000 consumers. In addition, the reconstruction project of …
ArcelorMittal invests $38.5 million in the modernization of a Coke plant in Poland Read More »
Dubai Customs decided to extend the work to raise the customs duties imposed on rebar and wire rod from 5 to 10% until October 12, 2025. This comes after the department issued a similar decision, dating back to January 20, 2023, extending the increase in customs duties on rebar and wire rod until November 7, …
UAE: Extending customs duties on rebar until October 2025 Read More »
According to preliminary statistics data issued by the US Department of Commerce, total US imports of rebar reached 96,543 tonnes in February 2023, up 4.9% from January but down 30.6% from February 2022 levels. By value, total US imports of rebar reached $68.2 million in February 2023, compared to $71.7 million in January and $112.4 …
US imports of rebar increased by 4.9% in February Read More »
Download PDF newsletter   . . . 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 …
Oil prices rose sharply after OPEC + announced sudden production cuts, and US oil futures contracts jumped by more than $6 to $81.69 a barrel, and Brent crude futures jumped more than $6 to record $86.44 a barrel. On Sunday, April 2, Saudi Arabia and other oil producers in the OPEC + group announced voluntary …
Oil prices jump above $80 a barrel after OPEC+ cuts Read More »
According to the daily follow-up of steel prices in Egypt, the prices of rebar ranged between 27,000 EGP – 38,500 EGP , as some companies 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 , Elmarakby Steel 34,000 …
The last update of rebar prices in Egypt is April 03, 2023 Read More »
May iron ore futures, which is the most heavily traded on the Dalian Commodity Exchange, for the week of March 24-31, 2023, rose 4.8% from the previous week – to 907 Yuan/t ($132.13/tonne). This put iron ore quotations back on the rise after two weeks of decline. On the Singapore Exchange, May futures contracts, as …
Report: The resurgence of iron ore prices amid low inventories in China Read More »
State Company for Iron and Steel and Ibn Majid General Company signed a steel plant equipment installation contract in the company. The Director General of State Company for Iron and Steel , Abbas Hayal, explained to the National Iraqi News Agency, based on the Prime Minister’s directives, Eng. Mohammed Shia Al-Sudani. And within the plan …
Scrap quotations in the Turkish market for the week of March 20-27, 2023 decreased by $16 per tonne. Last week, steel scrap prices continued to decline in international markets. The decline in raw materials purchases by Turkish consumers hurt global markets for the second week in a row. From 20-27 March 2023, HMS 1/2 scrap …
Report: Global scrap prices decline amid weak demand in Türkiye Read More »
It has been arranged to hold the Board of Directors meeting at its 126th regular session and the General Assembly at its 56th session of the Arab Iron and Steel Union in Dubai / United Arab Emirates from 14 to 15 May 2023. The meetings will be held at the InterContinental Dubai Festival City Hotel …
According to the steel prices announced in the global steel markets, scrap prices reached $440 / tonne, down $13 from last week, and iron ore prices was $127 / tonne, up $6 from last week, while the prices of billets ranged between $575-$620 per tonne, while it was between $590 – $630 / tonne in …
New satellite data collected by the World Bank’s Global Partnership for Reducing Gas Flaring reports that progress in reducing gas flaring resumed in 2022, with gas flaring reduced worldwide by 5 billion cubic meters to 139 billion cubic meters. This is the lowest level since 2010. Commenting on this, Guangzhe Chen, World Bank Vice President …
World Bank: Global gas flaring is down to its lowest level since 2010 Read More »
The integrated, ‘primary’ Blast Furnace-Basic Oxygen Furnace (BF-BOF) route is the dominant iron and steel production configuration. Despite its high CO2 emissions resulting from the use of large amounts of iron ore, mostly with low iron content, and limited amounts of scrap, blast furnace technology remains a crucial component of the iron and steel production …
Towards Green Steel SMS group upgrades the blue blast furnace Read More »
Brazilian mining company Vale has agreed to pay $55.9 million to settle a US investigation accusing it of misleading the disclosure of safety factors in its dams, one of which collapsed in Brazil in 2019. In January 2019, a dam in one of the Company’s iron ore mining mines in Brazil collapsed, killing at least …
Brazilian company Vale agrees to pay $56 million to settle the dam safety issue Read More »
According to Dubai Statistics Center data, cement prices in the UAE recorded a growth rate ranging between 7.7% and 15% during 2022. Ready-mix concrete prices rose by about 9.8%, and rebar steel declined by 19%. Salt-resistant cement increased by 7.7%, from 14.53 dirhams per bag of 50 kg to 15.66 dirhams, while the price of …
According to Japanese customs statistics, Japan’s iron scrap exports amounted to 529,123 tonnes in February this year, an increase of 3.2% compared to 512,866 tonnes over the same month last year. From January to February this year, Japan exported 1.10 million tonnes of scrap, up by 35% over the same period last year. During the …
China’s exports of steel products reached 12.19 million tonnes during the January-February period, up by 49% over the previous year, according to data from the General Administration of Customs. Exports totalled $14.98 billion, up by 27.5% year on year, which made the average export price reach 1228.69 Yuan/t, down by 14.4% year on year. In …
China’s steel exports increased by 49% from January to February Read More »
In January of this year, Turkey’s total imports of iron ore amounted to 798,953 tonnes, an increase of 139.6% compared to December and 11.2% compared to the same month in 2022, according to statistics from the Turkish Statistical Institute (TUIK). The value of these imports decreased by 11.8% to $90.6 million annually, while it increased …
Turkey’s imports of iron ore increased by 11.2% in January 2023 Read More »
The Australian mining group BHP and Chinese steel group HBIS have agreed to test carbon capture, utilization and storage (CCUS) technologies at HBIS steel mills. As part of the project, it is planned to develop and test technologies that can be integrated into steel production processes to reduce carbon dioxide emissions. BHP CEO Mike Henry …
A collaboration between Australian BHP and China’s HBIS Carbon Capture Read More »
The Ministry of Higher Education announced that the Central Metallurgical Research and Development Institute, under the auspices of Dr Ayman Ashour, Minister of Higher Education, and Scientific Research, signed a protocol for cooperation with a private company affiliated with the Holding Company for Chemical Industries to provide scientific and technical consultations and train cadres in …
In February 2023, Turkey’s steel production decreased by 19.2% compared to January 2023, reaching 2.104 million tonnes, and it decreased by 28.9% compared to February 2022. From January to February 2023, production reached 4.709 million tonnes, a decrease of 23.1% compared to the same period in 2022. From March 1, 2023, the Turkish Oil Pipeline …
Türkiye’s steel production declined by 28.9% in February 2023 Read More »
According to preliminary statistics data issued by the US Department of Commerce, monthly steel imports in the United States during February 2023 decreased by 13.5% compared to January, reaching 2,048,269 tons, and decreased by 4.1% compared to February 2022. In terms of value, US steel imports totalled $2.79 billion in February, compared to $3.29 billion …
Download PDF newsletter   . . . 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 …
According to the daily follow-up of steel prices in Egypt, the prices of rebar ranged between 27,000 EGP – 38,500 EGP , as some companies raised their prices compared to last week, Beshay Steel from 29,000 EGP to 38,500 EGP , Elmarakby Steel from 29,500 EGP to 34,000 EGP , Ashry Steel from 29,500 EGP …
The last update of rebar prices in Egypt is March 27, 2023 Read More »
Iron ore futures, the most traded on the Dalian Commodity Exchange for March 17-24, 2023, fell by 6.4% from the previous week – to 866.5 Yuan/t ($126.43/t). It is the second consecutive decline after reaching its highest level in 8 months. On the Singapore Exchange, April futures contracts, as of March 24, 2023, decreased by …
Report: Iron ore prices drop amid China’s restrictions on steel production Read More »