Arab Steel Summit
Arab Steel Summit

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International Mining Conference .. Saudi Arabia contributes to the development of the mining region

The Saudi capital, Riyadh, will host an international mining conference with the participation of more than 200 speakers from different countries of the world. It will be held under the auspices of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz. The conference will discuss several topics in the mining sector, including global …

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Egypt: 36.5 million pounds of iron and steel sales to mines in Novembe

The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during November, amounting to 36.51 million pounds. In a statement to the Egyptian Stock Exchange, the company stated that sales of Bahriya Oasis mines amounted to EGP 36.47 million during November. It added that the value of sales of Bani …

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Establishment of the largest green steel production plant with a capacity of 2.5 million tonnes in Finland

Norway’s Blaster Green Steel, which specializes in the green steel industry, has announced plans to construct a plant in the southern Finnish province of Inga. Investment in this project is estimated at 4 billion euros ($4.2 billion), and it will contribute to the creation of 1,200 jobs upon completion, which could make it the most …

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Metinvest Group resumes operating the blast furnace in the Ukrainian Kamet Steel Company

Metinvest Group has resumed operation of the Ukraine-based BOF blast furnace Kamet Steel, a subsidiary of the Metinvest Holding Group. The company had to suspend the Complex, due to the restrictions on energy supplies resulting from the Russia-Ukraine war. During the forced downtime, the factory team was working on restarting the continuous casting machines, repairing …

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Turkey announces a 16% reduction in electricity prices for industrial companies

Turkey’s Energy Market Regulatory Authority (EPDK) announced a 16% reduction in electricity prices for industrial consumers. The authority also reduced the maximum price of electricity in the free market from 4.8 thousand pounds/megawatt hour to 4.2 thousand pounds/megawatt hour. According to the Chairman of the Board of Directors of the Authority (EPDK), Mustafa Yilmaz, it …

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UAE: A new industrial complex for the production of cold and hot rolled with a capacity of 500,000 mt

Khalifa Economic Zones Abu Dhabi – Kizad Group signed a preliminary agreement with Dana Steel Company, the leading manufacturing unit within the Dana Industrial Group, to establish the first industrial complex for the production of cold and hot rolled steel, in the Emirate of Abu Dhabi. Under the terms of the agreement, Dana Steel will …

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Steel prices on the last day of 2022

According to the prices of the global steel markets, the scrap price reached 401$/tonne , Iron ore price was 116$/tonne , while the prices of billets ranged between 510 and 555$/tonne, and the prices of rebar ranged between 670 and 690$ / tonne, Wire Rod ranged between 700 and 700$ / tonne.

$186.8 billion is the contribution of “building and construction” to the Arab economies

The Arab Monetary Fund revealed that the construction sector in the Arab countries has recovered from the effects of the “Covid-19” pandemic, and the sector’s contribution to the GDP for the year 2021 amounted to about $186.8 billion, compared to $178.3 billion in 2020, with a growth of 4.7%. The Fund added, in a report, …

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Salzgitter Flagschtal contracts SMS Group to develop a hot rolling mill

Salzgitter Flachstahl, located in Salzgitter, Germany has awarded SMS group the contract to supply a new process model for the cooling section in its hot rolling mill. According to Salzgitter Flachstahl, the crucial factor behind its decision in favor of SMS group was “the combination of price and technological concept”. As part of the order, …

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Japan’s steel exports decline by 6.2% in January-November 2022

In November this year, Japan’s iron and steel product exports reached 2.78 million tonnes, up 12.1% month-on-month and down 3.6% year-on-year, according to customs statistics from the Japan Iron and Steel Federation (JISF). From January to November this year, Japan’s iron and steel product exports amounted to 29.63 million tonnes, down 6.2% over the same …

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Russia bans the oil sale to countries adhering to the Western price ceiling starting from February 2023

Russian President Vladimir Putin signed a decree banning the supply of oil and petroleum products to countries that imposed a ceiling on Russian crude prices, to enter into force in early February and continues for five months. The Group of Seven major countries, the European Union, and Australia agreed -this December- to set a maximum …

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 Buildings and construction market trends in the GCC countries will reach $5.4 billion in 2027

A recent report was published on the size of the structural steel and prefabricated buildings market in the GCC countries, in which it indicated that the size of the prefabricated buildings and structural steel market in the GCC countries would reach USD 3.8 billion in 2021. The structural steel and prefabricated buildings market is expected …

 Buildings and construction market trends in the GCC countries will reach $5.4 billion in 2027 Read More »

“Yamamah Steel” turns to losses in the fiscal year ending in September 2022

The preliminary financial results of Al Yamamah Steel Industries Company “Yamamah Steel” revealed that it turned into a loss during the fiscal year ending on September 30, 2022, compared to a net profit that the company recorded in the same period last year. According to the company’s preliminary financial results, the net loss after zakat …

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China’s industrial profits decreased by 3.6% during the first 11 months of 2022

Figures from the National Statistics Authority showed today, 27 December, that the profits of major industrial companies in China fell by 3.6% per annum during the first 11 months of this year. Industrial enterprises with annual business revenue of at least 20 million Yuan (about 2.88 million U.S. dollars) each reported a combined profit of …

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China’s rebar production decreased by 8.1% in January-November 2022

From January to November this year, China’s rebar total production reached 218.151 million tonnes, down 8.1% year on year, according to China’s National Bureau of Statistics. In the first 11 months, wire coil output reached 130.346 million tonnes, down 7.7% yearly. In November alone, China’s rebar and wire coil output reached 19.785 million tonnes and …

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Chinese steel companies’ profits fell by 94.5% in the first 11 months of 2022

From January to November this year, among China’s 41 industrial sectors, 20 saw year-on-year increases in total profits, while 21 saw decreases in gross profits, as announced by the National Bureau of Statistics (NBS) on December 27. In the indicated period, the ferrous metal smelting and rolling sector reported total profits of 22.92 billion Yuan …

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CISA: China’s daily steel production decreased in mid-December

China Iron and Steel Association (CISA) has announced that in mid-December of this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totalled 1.9638 million mt, down 1.15 per cent compared to early December this year. In early December, the average aggregate daily …

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The Algerian Qatari steel company cooperates with Danieli to modernize its units

The Algerian Qatari Steel Company (AQS), one of the largest steel producers in Algeria, continues to invest in improving its operations and business activities besides doubling its overall capacity in the long term. The Algerian Qatari Steel Company proceeds with investments to increase business efficiency in the medium term, especially given the company’s extensive exports …

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World crude steel production declined by -2.6% in November 2022

According to the preliminary data announced by the World Steel Organisation about world production (64 countries) during November 2022, crude steel production amounted to 139.1 million tonnes, a decrease of 2.6% compared to November 2021 production. Africa produced 1.3 million tonnes of crude steel in November 2022, down by -11.4% from November 2021. Asia and …

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Steel prices in the fourth week of December 2022

According to the prices of the global steel markets, the scrap price reached 387$/tonne , Iron ore price was 111$/tonne , while the prices of billets ranged between 513 and 555$/tonne, and the prices of rebar ranged between 660 and 670$ / tonne, Wire Rod ranged between 670 and 690 $ / tonne.

JPMorgan sets 2030 emissions targets for polluting industries, steel emissions cut 31%

JPMorgan said on Thursday it had set targets to cut emissions tied to its finance and dealmaking in the iron and steel, cement and aviation sectors, as those emissions linked to oil and gas usage rose. As the largest U.S. bank and major funder to the fossil fuel industry, investors and campaigners keenly watch JPMorgan’s …

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China approves restructuring of two major state-owned steel enterprises

The country’s top state-owned assets regulator said on December 21 that China has agreed to restructure two state-owned iron and steel giants companies. Sinosteel Group Corporation Limited, a metallurgical and mineral resources developer and processor, will be integrated into China Baowu Steel Group Corporation, a major player in the iron and steel industry, according to …

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