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 …
According to preliminary statistics data issued by the US Department of Commerce, monthly steel imports in the United States for November 2022 decreased by 17.0% compared to October, reaching 1,820,442 tonnes, a decrease of 30.7% compared to November 2021. In terms of value, total US steel imports in November amounted to $2.78 billion, compared to …
The government in China is set to reimpose coal import duties again from April 1, 2023, as the import tariff expires. China’s Ministry of Finance said import duties of between 3 and 6% on coal will come into effect again as the zero duties were only imposed from May 1, 2022, to March 31, 2023, …
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 …
Egypt: 36.5 million pounds of iron and steel sales to mines in Novembe Read More »
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 …
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 …
Metinvest Group resumes operating the blast furnace in the Ukrainian Kamet Steel Company Read More »
Regardless of US President Joe Biden’s vision, his country’s currency has nothing to do with the current slowdown on the global economic scene. The dollar has already contributed to this slowdown in light of an inflationary wave that does not seem to subside in the New Year. The United States, “like others,” was forced to …
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 …
Turkey announces a 16% reduction in electricity prices for industrial companies Read More »
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 …
First, I would like to thank the participants of the Iron and Steel Summit 2022, Bahrain. This event was held at the same time as COP 27 in Sharm–El Sheikh, Egypt, and several communications on the Green Steel theme were held and discussed. It is a clear aspiration of the iron and steel family to …
Arab Steel Summit Bahrain 2022 Raising awareness towards a clean steel industry Read More »
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.
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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, …
$186.8 billion is the contribution of “building and construction” to the Arab economies Read More »
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, …
Salzgitter Flagschtal contracts SMS Group to develop a hot rolling mill Read More »
The Egyptian Ministry of Petroleum and Mineral Resources announced that Egypt produced approximately 50.6 million tonnes of natural gas during the current year. According to the statement, Egypt achieved a record in natural gas exports, reaching 8 million tonnes this year, compared to about 7 million tonnes the previous year. The value of natural gas …
Egypt: A new record in natural gas exports during 2022 Read More »
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 …
Japan’s steel exports decline by 6.2% in January-November 2022 Read More »
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 …
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 …
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 …
“Yamamah Steel” turns to losses in the fiscal year ending in September 2022 Read More »
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 …
China’s industrial profits decreased by 3.6% during the first 11 months of 2022 Read More »
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 …
China’s rebar production decreased by 8.1% in January-November 2022 Read More »
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 …
Chinese steel companies’ profits fell by 94.5% in the first 11 months of 2022 Read More »
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 …
CISA: China’s daily steel production decreased in mid-December Read More »
Rebar prices in Egypt recorded an increase between 2095 and 3000 EGP in the past few days as a result of the rise in dollar prices in the local market, as rebar prices are affected by the prices of imported raw materials. rebar prices vary from one region to another, according to the cost of …
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 …
The Algerian Qatari steel company cooperates with Danieli to modernize its units Read More »
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 …
World crude steel production declined by -2.6% in November 2022 Read More »
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.
Emirates Arkan Steel Company announced the domestic reinforcing steel prices for January 2023, an increase of 120 dirhams per tonne ($33/t) compared to December prices, to reach 2380 dirhams per tonne ($648/t). Prices are indicated without 5% VAT. Currency price: 1 dollar = 3.673 dirhams.
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 …
JPMorgan sets 2030 emissions targets for polluting industries, steel emissions cut 31% Read More »
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 …
China approves restructuring of two major state-owned steel enterprises Read More »