The Egyptian Ministry of Finance decided to raise the customs dollar price to 19.31 pounds, as an exchange rate to be used for importing goods from abroad, starting from Thursday. It is noteworthy in the text of the decision that the customs dollar price specified in it is the highest ever since its inception, and …
Egypt decides to increase the price of the customs dollar Read More »
In July this year, Turkey (turkey)’s billet (billet) and bloom import volume decreased by 46.8 % month on month to 175,603 mt, down by 25.3 % year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $117.85 million, down 51.3 % month on month and …
Turkey’s billet imports down 31.9% in January-July 2022 Read More »
In the January-August period this year, China imported 722.922 million mt of iron ore (iron-ore), down 3.1 % year on year, as announced by the Chinese customs authorities on September 7. In August alone, China imported 96.208 million mt of iron ore, down 1.3 % year on year, while up 5.4 % month on month. …
China’s iron ore imports down 3.1% in January-August 2022 Read More »
The German steel federation Wirtschaftsvereinigung Stahl (WV Stahl) has stated that the German government’s third package of relief measures is not enough to prevent massive effects of high energy prices on the industrial foundations of the country’s economy. According to the statement, the significant increase in natural gas and electricity prices compared to spring last …
German steel federation calls for natural gas price cap Read More »
The Extraordinary General Assembly of Al-Nasr Coke Manufacturing and Basic Chemicals Company, affiliated with the Holding Company for Metallurgical Industries, decided, in its session held on September 5 2022, to dissolve and liquidate the company while taking the necessary measures in this regard and preserving the rights of the workers stipulated by law, in light …
Midrex Publishes World Direct Reduction Statistics Global direct reduced iron (DRI) production in 2021 was 119.2 million tons (Mt), up by 13.7% from the revised 104.8 Mt produced in 2020, and up 10.2% from the previous record of 108.1 Mt in 2019. From 2016, worldwide DRI output has grown by almost 44.4 Mt, or nearly …
ArcelorMittal said on Friday it would switch off one of two furnaces at its steelworks in the German city of Bremen until further notice from September-end, citing the soaring cost of gas, weak market demand and a negative economic outlook. The world’s second-largest steelmaker said it will also shut down the direct reduction plant at …
Europe’s largest steel group to shut wo plants in northern Germany as gas prices soar Read More »
According to the prices of the global steel markets, the scrap price reached 390$/tonne , Iron ore price was 95$/tonne , while the prices of billets ranged between 353 and 600$/tonne, and the prices of rebar ranged between 700 and 710$ / tonne, Wire Rod ranged between 750 and 760$ / tonne.
The Russian company “Gazprom” announced, on September 2, the suspension of gas supplies through the natural gas pipeline “Nord Stream” completely until the pipeline turbine is repaired, as it was intended to resume work on September 3, after the maintenance process. Gazprom said in a statement that it discovered an oil leak in the turbine …
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The world is facing a new wave of uncertainty and economic instability, as the International Monetary Fund indicated in its latest report that the three largest economies in the world have slowed down as a result of the Corona pandemic and the Russian invasion of Ukraine. Higher inflation than was expected, especially in the United …
Cautious Global economic growth is slowing with Misty horizons Read More »
In July this year, Japan (japan)’s iron and steel product exports amounted to 2.48 million metric tons, dropping by 19.8 % month on month and by 18.9 % year on year, according to the customs statistics released by the Japan (japan) Iron and Steel Federation (JISF). In the January-July period this year, Japanese iron and …
Japan’s steel exports down 2.8% in January-July 2022 Read More »
The UK government has approved the UK Trade Remedies Authority’s (TRA) proposal of maintaining the existing antidumping measures on imports of cold rolled flat steel from China and Russia at their current levels until August 5, 2026, as expiration of the existing antidumping duty orders on imports of cold rolled flat steel from China and …
UK maintains AD duty on CRC from China and Russia Read More »
Egypt’s exports of “iron and steel” rose during the first half of this year by about 2% to record $774 million , compared to $762 million in the same period last year. The monthly report issued by the Export Council for Building Materials, Refractories and Metal Industries showed that Egypt exported iron and steel during …
Egypt’s steel exports rise to $774 million in H1 2022 Read More »
The transactions of Maghreb Steel amounted to MAD 2.9 billion in H1 of 2022, an increase of 38% compared to the same period in 2021. Maghreb Steel announced that the transactions amounted to MAD 1.45 billion in Q2 of 2022, compared to MAD 1.09 billion in Q2 of 2021, explaining that this improvement is the …
Maghreb Steel achieves record returns due to high prices Read More »
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Rebar prices in the local market in the United Arab Emirates decreased by 6.5% to 2351 dirhams per ton for the month of September, compared to 2516 dirhams per ton in August. This is the lowest level of iron in the UAE since the beginning of the year. The Emirates-Arkan Steel Group announced fixing the …
Rebar in the Emirates to its lowest level since the beginning of the year Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during the month of July, worth EGY16.8 million . The company said in a statement to the Egyptian Stock Exchange today, Sunday, that the sales of the Bahariya mines amounted to about EGY 16.76 million in July. She added that …
Egypt: EGY16.8 million , Iron and Steel Company for Mines sales in July Read More »
According to preliminary census data from the US (us) Department of Commerce, US (us) monthly steel imports in July 2022 decreased by 5.7 % from June to total 2,425,586 mt. A year-on-year comparison shows a 9.7% decrease. In terms of value, US (us) steel imports in July totaled $3.91 billion, compared to $4.05 billion in …
According to the prices of the global steel markets, the scrap price reached 402$/tonne , Iron ore price was 106$/tonne , while the prices of billets ranged between 525 and 580$/tonne, and the prices of rebar ranged between 580 and 580$ / tonne, Wire Rod ranged between 680 and 700$ / tonne.
Engineer Saeed Ghamran Al Rumaithi, CEO of Emirates Steel Arkan, said that the group was able to reduce the volume of bank loans and reduce reliance on short-term cash loans, which contributed to achieving additional savings and improving cash flow in general at the end of the first half of this year. . He added, …
Emirates Steel Arkan cuts bank loans and expands into new markets Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021. Africa produced 1.2 Mt in July 2022, down 5.4% on July 2021. Asia and Oceania produced 110.1 Mt, down 5.2%. The EU (27) produced 11.7 …
World crude steel production declined by 6.5% in July 2022 Read More »
China’s domestic demand for construction steel is likely to remain low for the rest of 2022, market participants told S&P Global commodity insights, with the key indicator of excavator sales declining for the fourth straight month in July. China’s domestic excavator sales were down 24.9% year on year at 9,250 units in July, the second-lowest …
China’s construction steel demand likely to remain low for rest of 2022 Read More »
According to the prices of the global steel markets, the scrap price reached 394$/tonne , Iron ore price was 102$/tonne , while the prices of billets ranged between 530 and 590$/tonne, and the prices of rebar ranged between 650 and 670$ / tonne, Wire Rod ranged between 700 and 700$ / tonne.
Turkiye registered a decline in June billet export for the second month in a row, continuing the downward trend of January-June 2022 in international trade. Local steelmakers exported 79,946 t of billet in June, reducing shipments by 12.3% year-on-year, according to the Turkish Statistical Institute (TUIK).
The first amount of iron ore, estimated at 1,000 tons, was extracted from the Gara Jbeilat-Gharb mine (Tindouf province), which began to be exploited at the end of last July, as confirmed Wednesday by the Assistant Director-General of the National Iron and Steel Corporation (Feral), Reda Belhaj. In the same context, Belhadj said, “We carried …
Algeria: Extracting 1000 tons of iron ore from the Gara Jbeilat mine Read More »
British Steel has hiked prices on some products as surging energy costs squeeze profit margins for manufacturers across Europe. The increase of £100 ($121) a ton from one of the UK’s top producers will apply to structural sections, a form of steel used in construction, a spokesman said. The company earlier increased prices on the …
British Steel Raises Steel Section Prices on Surging Energy Costs Read More »
Gas prices in Europe hit new record levels, for the first time in 5 months, amid continued uncertainty in global markets. The price of gas in Europe rose above $2,500 per thousand cubic meters during trading Tuesday (August 16), for the first time since March, according to data provided by the London Stock Exchange and …
Gas prices in Europe hit record levels for the first time in 5 months Read More »
Watani Iron and Steel Company “Watani Steel” recorded a 15% decrease in net profit during the first half of 2022 on an annual basis. According to the company’s financial statements, issued on the Saudi Tadawul website, the net profit amounted to 25.49 million riyals after zakat and tax, compared to 30 million riyals in the …
Decreased demand reduces Watani Steel’s profits by 15% in H1 2022 Read More »
The financial statements of the Misr National Steel Company – Ataka, in the first half of 2022, showed a decline in the company’s profits by 7.7% on an annual basis, with the increase in sales costs. In a statement to the Egyptian Stock Exchange, the company stated that it achieved profits of EGY 86.75 million …
Misr National Steel Company profits fell 8% in H1 2022 Read More »