Arab Steel Summit

Arab Steel Summit

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Baosteel expects better situation for steel industry in September

Major Chinese steelmaker Baosteel has stated on an interactive platform with investors that it has cut its prices for carbon steel flat products for delivery in August amid declining steel prices in the spot market and more maintenance works being implemented by steelmakers. Though some raw material prices have also indicated obvious decreases, most steelmakers …

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Suez Steel Company contracts with Danieli to expand capability

Suez Steel contracted Danieli to upgrade its caster #2 , the target of Suez Steel is to increase the product range through the most flexible caster technology in the world, to satisfy the growing local and international market requests. After the upgrade, the caster –supplied by Danieli in 2011– will be able to produce more …

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Rebar prices decline in Egypt

News, Prices / By user

Rebar prices recorded a new decline today in Egypt, as iron prices in the local market decreased by a value ranging between 500-600 pounds per tonne from the costs of last June. Ahmed El-Ziny, Head of the Building Materials Division at the Cairo Chamber of Commerce, indicated that iron prices peaked in April, during which …

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UAE extends ban on scrap exports until September 30

The UAE’s Ministry of Economy has announced the extension of the country’s ban on exports of ferrous and paper waste. Accordingly, the UAE’s Ministry of Economy issued a directive to suspend the export of raw materials, in particular steel scrap (scrap), under the following HS codes 720410, 720421, 720429, 720430, 720441, 720449 and 720450, until …

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Tosyali Algeria achieves exports worth 450 million dollars in H1 2022

Tosyali Algeria (east of Oran) achieved export revenues of 450 million dollars during the first half of this year. In charge of media, Mrs Hakima Kamel stated that, during the first half of this year, Tosyali Company exported 571,000 tonnes of steel products, an increase of 10 per cent compared to the same period last …

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China’s steel exports decline as imports rise in H1 2022

China exported 7.557 million mt of finished steel in June. And though the figure is up 17 % year on year, it is down 2.6% month on month, as announced by the Chinese customs authorities on July 14. Following the sharp increase in May, exports retreated slightly, but in the coming months’exports are expected to …

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Ukraine’s ArcelorMittal Kryvyi Rih resumes rebar production

Ukrainian steelmaker ArcelorMittal Kryvyi Rih, a subsidiary of Luxembourg-based ArcelorMittal, has resumed operations at its rebar (rebar) production line DS-250-5 following a long downtime, according to media reports. The heating of the furnace began last week on July 7 and the first rebar (rebar) with a diameter of 16 mm was produced on July 11. …

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Steel prices in the third week of July 2022

News, Steel Prices / By user

According to the prices of the global steel markets, the scrap price reached 408$/tonne , Iron ore price was 96$/tonne , while the prices of billets ranged between 565 and 680$/tonne, and the prices of rebar ranged between 710 and 720$ / tonne, Wire Rod ranged between 750 and 800$ / tonne. Prices for iron …

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US Federal Reserve raises interest rates by 75 points … the largest increase since 1994

The US Federal Reserve decided to raise interest rates by 75 basis points, which comes as a continuation of the monetary tightening policy pursued by the United States in an attempt to alleviate the pressures caused by the acceleration of inflation rates that jumped to their highest levels since 1981 during last May. The last …

US Federal Reserve raises interest rates by 75 points … the largest increase since 1994 Read More »

US issues final AD duty on circular welded pipe from UAE

The US Department of Commerce (DOC) has announced the final the results of its administrative review of the antidumping (AD) duty order on circular welded carbonquality steel pipe (pipe) from the United Arab Emirates for the period between December 1, 2019, and November 30, 2020. Accordingly, the US DOC has determined that UAE-based companies’ sales …

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Egypt raises the price of diesel for the first time since November 2019

Petroleum Products Automatic Pricing Committee decided, in its meeting held after the end of last June, to raise the current prices of all types of gasoline, as well as the cost of diesel for the first time since November 2019 (about three years), until the end of next September. The committee indicated in a statement …

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Steel prices in the second week of July 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 410$/tonne , Iron ore price was 114$/tonne , while the prices of billets ranged between 545 and 680$/tonne, and the prices of rebar ranged between 710 and 720$ / tonne, Wire Rod ranged between 750 and 800$ / tonne. Prices for iron …

Steel prices in the second week of July 2022 Read More »

Turkey imposes anti-dumping duties on steel from Europe and South Korea

Turkey announced the introduction of anti-dumping duties on the import of flat products, saying that the supplies of European and South Korean companies are detrimental to domestic producers. Import fees will vary from 7% to 12.8% of the purchase price, according to a decree from the Ministry of Commerce, published in the official gazette of …

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Turkey’s rebar exports down 11.4 % in January-May

In May this year, Turkey’s rebar exports amounted to 399,478 metric tons, down 22.4 % compared to April and decreasing by 40.8 % year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $352.38 million, decreasing by 13.9 % compared to April …

Turkey’s rebar exports down 11.4 % in January-May Read More »

Three factors facing the oil market… War, Inflation and Recovering Demand

Public Reports / By user

Oil analysts expected the volatility of crude oil prices to continue this week due to fears of economic stagnation and weak market sentiment, which caused price losses for three consecutive weeks. They explained to Al-Iqtisadiah that oil prices, in turn, receive some support from the summer driving season and the air travel return. In addition …

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Rebar prices decline in Egypt driven by the drop in billet globally

Local factories for rebar production revealed the selling prices of their products in July, with another decrease of 500 pounds on average per tonne, due to the successive decline in billet prices on the global stock exchange, specifically from the Russian market. Note that iron prices recorded a decrease of more than 1,100 pounds per …

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Vale signs deal to power pellet plants with natural gas until 2024

Brazilian iron ore miner Vale announced an agreement with local gas suppliers Eneva and Gasmar, for the supply of natural gas to its Sao Luis pellet plant, located in the northeastern state of Maranhao. The move will consolidate the use of natural gas in all Vale’s pellet plants until 2024. The company also operates pellet …

Vale signs deal to power pellet plants with natural gas until 2024 Read More »

Steel prices in the first week of July 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 375$/tonne , Iron ore price was 115$/tonne , while the prices of billets ranged between 500 and 550$/tonne, and the prices of rebar ranged between 660 and 680$ / tonne, Wire Rod ranged between 720 and 750$ / tonne. Prices for iron …

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A Cautious Return to Global Economic Activity

Editorial, Magazine / By user

The changes that the world is witnessing have driven the global economy into tension and instability state. The remaining challenges from the repercussions of the Corona pandemic, the Russian-Ukrainian war, the rise in energy prices, and the increase in the interest rate in the United States led to economic instability that affected all industries …

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Oil prices fall, Brent crude to $108.83 a barrel

Oil prices fell, as persistent fears of stagnant demand cast a shadow over sentiment and put the benchmark crude on track for its third consecutive weekly loss. By 04:28 GMT, Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel, giving up gains of more than a dollar earlier in the session. …

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India extends AD probe on electrogalvanized steel from three countries

India’s Directorate General for Trade Remedies (DGTR) has announced that it has extended the deadline of its antidumping (AD) duty investigation on electrogalvanized steel imported from South Korea, Japan and Singapore until July 27, 2022. The investigation was launched on June 28, 2021, upon the application lodged by local producer American Precoat Speciality Private Limited, …

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US HRC imports up 11.4 % in May

According to preliminary census data from the US Department of Commerce, US imports of hot rolled sheet totaled 201,678 mt in May 2022, up 11.4 % from April but down 4.0 % from May 2021 levels. By value, HRC imports totaled $246.0 million in May 2022, compared to $208.2 million in April and $190.3 million …

US HRC imports up 11.4 % in May Read More »

Newsletter June 2022

PDF News / By user

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Business sector: Production of 500,000 tonnes from Delta Steel plants next year

The Ministry of Public Enterprise Sector revealed the latest development in the Delta Steel factories, affiliated to the Holding Company for Metallurgical Industries, at about $45 million. The project aims to replace the old rebar factory, which produced about 46,000 tonnes, with the new plant, with a total capacity of 500,000 tonnes of billets annually …

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Protected: Arab Steel Magazine May -June 2022

Magazine / By user

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UAE : Rebar prices fell by 17% in June 2022

Rebar prices in the local market in the UAE recorded a sudden drop in June, touching 2,530 dirhams per ton, down 16.6% compared to prices last May, which were around 2,950 dirhams per ton, according to sources working in the building materials trade. The sources linked this decline to several reasons, including the drop in …

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Tosyali Algeria wins the trophy for the best Algerian exporter in 2021

The trophy for the best Algerian non-hydrocarbon exporting company for the year 2021 was won by the company Tosyali Algeria, specializing in the manufacture of iron and steel, reports the APS agency this Monday, June 27, 2022. This trophy is awarded by the World Trade Center Algiers (WTCA), which organized the award ceremony for this …

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CMC Steel operates the energy-saving Q-One power feeder from Danieli

CMC Steel recently replaced the Danieli Automation Q-One digital power feeder in its existing ladle-furnace transformer, starting operation without any delay to production in the commissioning stage. The innovative features of Q-One allow furnaces to operate at variable frequencies; in fact tests have been executed operating the furnace at CMC Steel Arizona down to 20 …

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Steel prices in the fourth week of June 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 329$/tonne , Iron ore price was 115$/tonne , while the prices of billets ranged between 500 and 580$/tonne, and the prices of rebar ranged between 610 and 660$ / tonne, Wire Rod ranged between 700 and 740$ / tonne. Prices for iron …

Steel prices in the fourth week of June 2022 Read More »

Kuwait’s imports reached 568 million dinars of iron and steel in 2021

Official data revealed that Kuwait imported base and manufactured metals of about 803 million dinars in 2021, and iron and steel products accounted for 71% of the total, with a value of 568 million dinars.