Arab Steel Summit

Arab Steel Summit

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Egypt’s iron and steel exports rose to $472 million within four months

Egypt’s iron and steel exports rose during the period “January-April” of this year by about 1%, recording 472 million dollars, compared to 468 million dollars during the same period last year. The monthly report issued by the Export Council for Building Materials, Refractories and Metal Industries showed that during the first four months of this …

Egypt’s iron and steel exports rose to $472 million within four months Read More »

China’s semi-finished steel imports fell to the lowest level in 30 months

Imports of semi-finished steel to China dropped significantly in May, posting the lowest monthly level in the last 2.5 years. Moreover, the downtrend of semis imports seen in the first five months this year will continue in the coming three months, taking into account falling local prices in China and the slowdown of consumption due …

China’s semi-finished steel imports fell to the lowest level in 30 months Read More »

The Federal Reserve Chairman acknowledges the possibility of a recession

US Federal Reserve Chairman Jerome Powell acknowledged to Congress that a rapid rise in interest rates could cause a recession, even if that is not what he wants. During a Senate hearing, Powell answered a question from a senator who had expressed concern about a recession because of the bank’s monetary policy, saying, “It’s certainly …

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World crude steel production decreased by 3.5 % in May

News, steel Statistics / By user

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.5 million tonnes (Mt) in May 2022, a 3.5% decrease compared to May 2021. Asia and Oceania produced 126.8 Mt, down 1.7%. The EU (27) produced 12.9 Mt, down 6.8%. Europe, Other produced 4.1 Mt, down 1.7%. The Middle …

World crude steel production decreased by 3.5 % in May Read More »

China’s steel bar exports down 44.3% in January-May 2022

In the January-May period of the current year, China’s exports of steel bars totaled 2.64 million mt, down 44.3 % year on year, while wire rod exports amounted to 0.82 million mt, down 9.0% year on year. At the same time, China’s export volumes of angles/channels came to 1.24 million mt in the given period, …

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Iron ore prices fall by more than 7% as Chinese demand is expected to decline

Iron ore prices have fallen more than 7%, giving up all of their gains this year, with expectations that the domestic demand in China may decline. Iron ore consumption has been affected by the decline in the Chinese real estate market as the country faces the spread of the “Covid-19” virus. However, some optimism to …

Iron ore prices fall by more than 7% as Chinese demand is expected to decline Read More »

Rebar prices in Saudi Arabia

According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia decreased in May 2022 to 4278.38 riyals, down by 14 riyals compared to the price of April 2022, which amounted to 4292.81 riyals, and up by 927 riyals compared to May 2021, which amounted to 3351.19 riyals. …

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China’s steel output down 8.7% in January-May 2022

In the January-May period of the current year, China’s outputs of pig iron, crude steel and finished steel amounted to 360.87 million mt, 435.02 million mt and 549.31 million mt, decreasing by 5.9 %, 8.7 % and 5.1 %, respectively, year on year, as announced by China’s National Bureau of Statistics (NBS). Though the production …

China’s steel output down 8.7% in January-May 2022 Read More »

Turkey’s iron ore imports increase 7.3% in January-April 2022

In April this year, Turkey’s iron ore imports totaled 1.24 million mt, increasing by 31.3 % compared to March and up 24.6 % as compared to the same month of 2021, according to the statistics provided by the Turkish Statistical Institute (TUIK). The value of these imports decreased by 4.5 % to $176.51 million year …

Turkey’s iron ore imports increase 7.3% in January-April 2022 Read More »

Steel prices in the third week of June 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 363$/tonne , Iron ore price was 121$/tonne , while the prices of billets ranged between 545 and 640$/tonne, and the prices of rebar ranged between 695 and 710$ / tonne, Wire Rod ranged between 750 and 820$ / tonne. Prices for iron …

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Restarting Mukalla Steel Factory, with a production capacity of 10,000 tons per month

Mukalla Iron and Steel Company Ltd. has resumed restarting the factory with a production capacity of 10,000 tons as a first stage, and production will be raised in the future to 25,000 tons per month. The factory was forced to stop in 2012, due to the lack of raw materials and foreign experts, as well …

Restarting Mukalla Steel Factory, with a production capacity of 10,000 tons per month Read More »

Japan’s domestic steel consumption down 4.4% in Jan-Apr 2022

In April this year, domestic steel product consumption in Japan amounted to 4.05 million metric tons, down by 3.9% compared to March and by 6.8% year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-April period this year, domestic steel consumption in the country dropped …

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Chairman of the National Committee: Iron and steel is a strategic sector and the backbone of development in Saudi Arabia

The National Committee for the steel industry in the Federation of Saudi Chambers has joined the Arab Iron and Steel Union, the largest Arab gathering of iron producers in Algeria; this enhances the Kingdom’s place and position in the Arab world in the iron industry. The Chairman of the National Committee for the steel industry …

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“Ezz Steel” tops the list of steel producers in Africa and the Arab world for the second year in a row

In the latest report of the World Steel Organization (Worldsteel), Ezz Steel ranked first in the ranking of the largest steel producers in the Arab region and Africa, with a production of 5.1 million tons, ahead of SABIC Steel in Saudi Arabia, which came in second place with a production of 4.8 million tons, while …

“Ezz Steel” tops the list of steel producers in Africa and the Arab world for the second year in a row Read More »

US wire rod imports down 4.6% in April,including Algeria and Egypt

According to final census data from the US Department of Commerce, US imports of wire rod totaled 160,984 mt in April 2022, down 4.6% from March and but up 177.9% from April 2021 levels. By value, wire rod imports totaled $157.3 million in April 2022, compared to $153.5 million in March and $49.1 million in …

US wire rod imports down 4.6% in April,including Algeria and Egypt Read More »

Emirates Steel provides 65% of the local market needs

Engineer Saeed Ghamran Al Rumaithi, CEO of Arkan Group and CEO of Emirates Steel stated that the industrial sector is at the heart of the UAE vision, which seeks to accelerate the pace of economic diversification in the country. Saeed Ghamran explained that the strong results achieved by Emirates Steel Arkan” during the first quarter …

Emirates Steel provides 65% of the local market needs Read More »

Turkey’s billet imports down 53% in January-April

In April this year, Turkey’s billet and bloom import volume increased by 129.6% month on month to 201,359 mt, down by 45.0% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $160.22 million, up 133.0 % month on month and down 27.4% year on …

Turkey’s billet imports down 53% in January-April Read More »

Steel prices in the second week of June 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 413$/tonne , Iron ore price was 141$/tonne , while the prices of billets ranged between 585 and 620$/tonne, and the prices of rebar ranged between 725 and 740$ / tonne, Wire Rod ranged between 760 and 840$ / tonne. Prices for iron …

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

Turkey’s steel exports fell in January-May, while they rose to Egypt and Morocco

In May this year, Turkey’s steel exports decreased by 19.7% year on year to 1.63 million tonnes, while the value of exports increased by 11% year on year to reach $1.9 billion. According to CIB data, Turkey’s total steel exports amounted to 8.78 million tonnes in the first five months of 2022, down by 2.6% …

Turkey’s steel exports fell in January-May, while they rose to Egypt and Morocco Read More »

Gas prices in the United States rose to the highest level in 14 years

US natural gas futures rose above $9.50 per million British thermal units, a level not reached since August 2008; buoyed by increasing domestic and international demand and production decline. Consumption and demand for cooling increased as the weather warmed in the US, which is a significant price driver in the near term, as energy demand …

Gas prices in the United States rose to the highest level in 14 years Read More »

Cooperation between Mauritania and Algeria in the field of energy and mining

The Mauritanian Minister of Petroleum, Minerals and Energy, Abdelsalam Ould Mohamed Saleh, said that the opportunities for cooperation in the energy and mines field in Algeria and Mauritania would experience a strong impetus. In his speech during the working session that brought him together with the Algerian Minister of Energy and Mines, Mohamed Arkab, and …

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Egypt: Extending duties on steel imports from Turkey, Ukraine and China for a year

The Ministry of Industry and Commerce has issued Resolution 324 of 2022 extending the validity of Ministerial Resolution n° 1535 of 2017, imposing definitive anti-dumping duties on dumped imports type: bars, coils, poles and rods, originating or exported from China, Turkey or Ukraine for five years ending June 5, 2022. And based on the report …

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Ezz Steel’s profits rise to 1.2 billion pounds in the first quarter

The consolidated financial statements of Ezz Steel for the first quarter of this year showed a marginal increase in the company’s profits on an annual basis. In a statement to the Egyptian Stock Exchange, the company stated that it recorded a net profit of 1.21 billion pounds from January to the end of last March, …

Ezz Steel’s profits rise to 1.2 billion pounds in the first quarter Read More »

Steel prices in the first week of June 2022

News, Prices / By user

According to the prices of the global steel markets, the scrap price reached 435$/tonne , Iron ore price was 144$/tonne , while the prices of billets ranged between 590 and 630$/tonne, and the prices of rebar ranged between 740 and 770$ / tonne, Wire Rod ranged between 840 and 900$ / tonne. Prices for iron …

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

Arab Organization for Industrialization inaugurates a stainless steel factory

The Arab Organization for Industrialization has started two new giant national projects, one of which is to manufacture nearly 10 million vehicle tires of various types annually. The second is to produce “stainless steel” in large quantities, said Lieutenant-General Abdel Moneim Al-Terras, Chairman of the Authority’s Board of Directors, and in statements during his participation …

Arab Organization for Industrialization inaugurates a stainless steel factory Read More »

Energy prices rise in Europe by 39.2% with record inflation of 8.1%

European officials confirmed that inflation in the 19 countries that use the euro reached a record of 8.1% in May, amid soaring food and energy prices partly fuelled by the war in Ukraine. The latest data from the European Union’s statistics agency, Eurostat, revealed that annual inflation in May exceeded the previous record by 7.4% …

Energy prices rise in Europe by 39.2% with record inflation of 8.1% Read More »

Protected: Fourth Economic Committee Report – May 2022

Economic Committee Reports / By user

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Japan’s steel exports down 2.1% in Jan-Apr 2022

In April this year, Japan’s iron and steel product exports amounted to 2.73 million metric tons,dropping by 13.2% month on month and by 0.3 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-April period this year, Japanese iron and steel product exports amounted …

Japan’s steel exports down 2.1% in Jan-Apr 2022 Read More »

Turkey’s steel imports and exports rise in January-April 2022

According to the provisional foreign trade statistics, Turkey’s iron and steel exports rose, ranking third in April, with a value of $1.50 billion , an increase of 18.2% year on year, and imports increased by 13.9% compared to imports in April 2021 to reach $2.89 billion. In January-April period, the value of Turkey’s iron and …

Turkey’s steel imports and exports rise in January-April 2022 Read More »

Newsletter May 2022

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