The Saudi Steel Pipe Company, “Saudi Pipes”, intends to acquire an additional 35% ownership stake in Al Alamiah Pipes at $9.9 million. Al Alamiah Pipe Company is a Saudi steel pipe manufacturing company, in which Saudi Pipes currently owns a 35% stake, and EW Holding GmbH & Co KG (EEW) owns a 35% stake. And …
Saudi Pipes intends to acquire a 35% stake in Al Alamiah Pipe Company Read More »
According to export data from the US Department of Commerce, monthly steel exports in October 2022 decreased 3.6 % from September to total 632,670 mt. A year-on-year comparison shows a 3.1 % decrease. In terms of value, US steel exports in October totaled $1.21 billion, compared to $1.26 billion in September and $1.14 billion in …
According to preliminary census data from the US Department of Commerce, US imports of cold rolled sheet totaled 129,098 mt in October 2022, up 25.5% from September and up 17.8 % from October 2021 levels. By value, CRC imports totaled $163.1 million in October 2022, compared to $146.8 million in September and $181.7 million in …
A US agency revealed that the United States and the European Union are considering imposing new tariffs on Chinese steel and aluminum as part of the fight against carbon dioxide emissions Bloomberg reported, citing sources familiar with the situation, that the idea originated in the administration of US President Joe Biden, but it is still …
US and European Union are considering imposing new tariffs on Chinese steel and aluminum Read More »
European Commission President Ursula von der Leyen said today that the United States and the European Union should invest together in clean technology and not risk a devastating trade war. Von der Leyen said in a speech at the College of Europe in Bruges that in the face of climate change and competition from China, …
The Public Authority for Special Economic Zones and Free Zones of Oman, an Omani government economic agency, has signed a memorandum of understanding with the Jindal Shadeed Group to build a green iron production plant with investments of $3 billion in Oman, according to Oman News Agency. The agency added that the factory would be …
According to the prices of the global steel markets, the scrap price reached 378$/tonne , Iron ore price was 107$/tonne , while the prices of billets ranged between 495 and 555$/tonne, and the prices of rebar ranged between 660 and 680$ / tonne, Wire Rod ranged between 680 and 680$ / tonne.
Rebar prices in Egypt recorded an increase between 780 and 1700 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 consolidated financial statements of Ezz Steel Company, during the first nine months of this year, showed an increase in the company’s profits by 52%, on an annual basis. The company stated in a statement to the Egyptian Stock Exchange, today, that it achieved profits amounting to 5.7 billion pounds during the period from January …
Ezz Steel profits rise to 5.7 billion pounds in 9 months Read More »
Japan’s Ministry of Finance has announced that it has decided to impose antidumping duties on imports of galvanized steel wire originating in China and South Korea for a period of five years, following an investigation which started on June 14, 2021. The antidumping duties are at 26.5% – 41.7% for China and 9.8% – 24.5% …
Japan imposes AD duties on galvanized steel wire from China and S. Korea Read More »
Trade authorities in Mexico have extended until June 2026 the antidumping duty of 29.3% on the import of hot rolled coil (HRC ) manufactured in Russia or Russian products imported from any other country. The duty covers products under HTS codes 7208.10.02, 7208.25.99, 7208.37.01 and 7225.30.03 of the General Import and Export Tax Law (TIGIE), …
Mexico extends AD duties on Russian HRC until 2026 Read More »
According to the General Authority for Statistics, the average price of a ton of iron in the Kingdom of Saudi Arabia in October ranged between 3189.14 – 4285.41 Saudi riyals, with an increase of 1.02% – 5.15% compared to September 2022, and a decrease between -0.14% – -1.76% compared to October 2021. Average Prices monthly …
Tata Steel, one of the world’s leading steel producers, has signed a memorandum of understanding with SMS group to reduce carbon emissions at Tata’s integrated steel plants across India. SMS group will contribute its leading technological expertise in designing, supplying, and commissioning plants with significantly lower CO2 emissions. Burkhard Dahmen, CEO and Chairman of SMS …
SMS group and Tata Steel sign MoU to decarbonize integrated steel plants Read More »
Despite numerous challenges, among which are the global economic headwinds and local political instability, a new steel facility has been commissioned in Iraq. Rather positive long-term prospects for rebar demand are the main reason for capacity expansion taking place in the Kurdistan region. Iraq’s Galiawa Group announced the launch of the second rolling mill at …
Iraq’s Van Steel launches commercial rebar production Read More »
In September this year, domestic steel product consumption in Japan amounted to 3.91 million metric tons, rising by 3.1 % compared to August and declining by 7.3 % year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-September period this year, domestic steel consumption in …
Japan’s steel consumption down 7.1% in Jan-Sept 2022 Read More »
According to the prices of the global steel markets, the scrap price reached 353$/tonne , Iron ore price was 100$/tonne , while the prices of billets ranged between 480 and 540$/tonne, and the prices of rebar ranged between 635 and 650$ / tonne, Wire Rod ranged between 670 and 670$ / tonne.
Oil prices fell by more than 3 percent at the settlement on Wednesday, continuing a series of fluctuations, amid talks by the Group of Seven to set a ceiling for the price of Russian oil beyond the level at which it is currently traded and to increase gasoline stocks in the United States much more …
Oil falls 3% amid talks to cap the price of Russian oil Read More »
In October this year, China’s exports of steel bars amounted to 0.65 million mt, up 79.5% year on year and rising by 14 % month on month, while exports of wire rod and angles/channels amounted to 160,000 mt and 320,000 mt, up 4.0 % and up 151 % year on year, while increasing by 6.7 …
The Indian government heeded local producers’ pleas and abolished export duties on the main iron and steel products. The suppliers now intend to increase domestic prices. On November 18, the Indian Ministry of Finance lifted export duties on carbon flats as well as carbon and alloy longs. The duties for pig iron, pellets and iron …
India abolishes export duty on key iron and steel products to boost local industry Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 147.3 million tonnes (Mt) in October 2022, with the same production as October 2021. Africa produced 1.4 Mt in October 2022, up 2.3% on October 2021. Asia and Oceania produced 107.3 Mt, up 5.8%. The EU (27) produced 11.3 …
Qatar Steel recently held a Long Service Awards Ceremony for 162 employees to thank them for their dedicated service to the Company. Employee with a range of service between 10 to 30 years were acknowledge for their contributions to the development of the Company and enhancing its leading position in steel industry, both locally and …
Qatar Steel celebrates its long service employees Read More »
In the January-October period this year, China’s rebar production totaled 198.344 million mt, down 13.8% year on year, according to China’s National Bureau of Statistics (NBS). In the first ten months, Chinese wire rod production amounted to 119.558 million mt, down 8.4% year on year. In October alone, China’s rebar and wire rod production amounted …
China’s rebar output down 9.5% in January-October 2022 Read More »
The Iron and Steel Company for Mines and Quarries (ISMQ) announced the approval of its board of directors, held on 11/19/2022, on its business results for the period ending on 09/30/2022, which showed a net profit of 26.538 million pounds, compared to a net profit of 8.590 million. pounds, according to the company in its …
Egypt: Iron and steel miners jump in profits for September 2022 Read More »
Despite slowing global economic activity and risks of recession, oil prices may soon be back above $100 a barrel, sooner than analysts believed two months ago. Indeed, although slowing economies and fears of recession affected oil prices for months, the easing of the restrictions of the Corona pandemic in China, the “OPEC +” cuts starting …
According to the prices of the global steel markets, the scrap price reached 339$/tonne , Iron ore price was 99$/tonne , while the prices of billets ranged between 480 and 580$/tonne, and the prices of rebar ranged between 620 and 635$ / tonne, Wire Rod ranged between 640 and 660$ / tonne.
China’s major steelmaker Ansteel broke ground on a 22.9-billion-yuan (about 3.25 billion U.S. dollars) underground iron ore mine project in northeast China’s Liaoning Province on Wednesday. It is estimated that the Xi’anshan mine, located 7 kilometers southwest of Qianshan District in Anshan City, will produce an annual 30 million tonnes of iron ore and 10 …
China breaks ground on major underground iron ore mine project Read More »
In September this year, Brazilian miner Vale’s iron ore export volume totaled 22.52 million mt, declining by 6.1% compared to August and by 14.6% compared to September 2021, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the first nine months of the current year, Vale’s iron …
Vale’s iron ore exports down 17 % in January-September 2022 Read More »
It is essential that emissions reduction efforts focus on boosting green steel production so that the world can go a long way toward achieving its climate goals in carbon-intensive sectors. According to the Energy Research Unit, iron and steel production represents 3.4 billion tonnes or 7% of global carbon dioxide emissions. According to a recent …
Is China Leading the Global Green Steel Revolution? Read More »
In September of this year, Turkey’s rebar exports reached 507.660 tonnes, down 12.3 per cent compared to August and down 29.4 per cent year on year, according to preliminary data from the Turkish Statistical Institute (TUIK). Meanwhile, the total revenue generated by these exports amounted to $340.24 million, down by 10.8% compared to August and …
Turkey’s rebar exports decreased by 17.8% from January to September 2022 Read More »
The gross domestic product (GDP) at the current prices of the Arab countries is likely to rise by 21% this year to reach about $3.4 trillion, “representing 3.35% of the global economy,” compared to $2.81 trillion in 2021 “representing 2.92% of the global economy.” According to the monitoring unit of the reports in the “Al …
The rise in the GDP of the Arab countries in 2022, with Saudi Arabia in the lead Read More »