President Joe Biden announced the exemption of the Ukrainian iron and steel products from additional tariffs for a year. He noted that Ukraine accounted for less than 1% of US steel imports in 2021 and predicted that production and supplies would be even lower due to the conflict with Russia. “The steel industry is historically …
US exempts Ukrainian steel imports from additional tariffs for a year Read More »
According to the prices of the global steel markets, the scrap price reached 456$/tonne , Iron ore price was 135 $/tonne , while the prices of billets ranged between 615 and 665$/tonne, and the prices of rebar ranged between 750 and 800$ / tonne, Wire Rod ranged between 840 and 900$ / tonne. Prices for …
Oil prices continued to rise to their highest level in two months, with gains supported by expectations of reduced supplies due to increased gasoline consumption in the United States during the summer and the possibility of the European Union ban on Russian oil imports. By 22:28 on May 27, Abu Dhabi time, Brent crude rose …
According to preliminary census data from the US Department of Commerce, US monthly steel imports in April 2022 decreased 11.7 percent from March to total 2,477,347 mt. A year-on-year comparison shows a 3.4% increase. In terms of value, US steel imports in April totaled $3.68 billion, compared to $3.93 billion in March and $2.40 billion …
The General Iron and Steel Company revealed the stages of completion in the new factory, stressing that the completion rate has reached 90%, and the company explained that the remaining percentage is related only to data entry while indicating that the specified production capacity of the plant as a final product is in the range …
Eng. Eid Muhalal, Managing Director and CEO of the Egyptian Ferroalloys Company of the Ministry of Public Business Sector, revealed that the export file is one of the most important files the company is interested in within the framework of the state’s plan to maximize the volume and value of locally manufactured exports to ensure …
Egyptian Ferrous alloys Company exports 35,000 tonnes to the European Union Read More »
The National Company for Industry and Mining (SNIM) have signed a non-binding Memorandum of Understanding with ArcelorMittal, in order to evaluate the opportunity to jointly develop a plant for the production of iron pellets and another for the production of reduced iron (DRI) in Mauritania, using ores produced by SNIM. Under this agreement, a preliminary …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.7 million tonnes (Mt) in April 2022, a 5.1% decrease compared to April 2021. Asia and Oceania produced 121.4 Mt, down 4.0%. The EU (27) produced 12.3 Mt, down 5.4%. Europe, Other produced 4.2 Mt. up 0.5%. North America …
World crude steel production decreased by 5.1% in April Read More »
Qatar Steel hosted the 124th meeting of the Board of Directors and the 55th meeting of the General Assembly of the Arab Iron and Steel Union (AISU) at the Sharq Village & Spa in Doha on May 22 and 23, 2022. The meetings took place after an almost two-year pause in the activities of AISU …
Qatar Steel hosted the 124th session of the Board of Directors of the Arab Iron and Steel Union and the 55th ordinary session of the General Assembly during the period from 23-24 May 2022, at the Sharq Hotel in Doha, in the presence of 65 iron and steel companies members of the Union, after two …
The Arab Iron and Steel Union concluded the work of the fourth meeting of the Economic Committee in Doha – Qatar, which was held on May 22, hosted by Qatar Steel Company. Where the committee presented a study on the economic situation of the Arab countries and its impact on the volume of steel production …
Arab Iron and Steel Union concludes the work of the Economic Committee meeting in Doha Read More »
Rebar prices in Egypt recorded a new decline today, as iron prices in the local market decreased by 1000 pounds per ton. Ahmed El-Ziny, Head of the Building Materials Division at the Cairo Chamber of Commerce, indicated this decline is due to the drop in international prices of billet by $150 per ton. Rebar prices …
The escalation is continuing between Russia and Ukraine war, the world is awaiting with concern its consequences, which have crossed the borders far beyond what some have expected, and the world is feeling its economic effects in many activities, especially in the energy sector. It is no secret – in my opinion – that when …
According to the prices of the global steel markets, the scrap price reached 460$/tonne , Iron ore price was 136$/tonne , while the prices of billets ranged between 600 and 650$/tonne, and the prices of rebar ranged between 760 and 790$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in April 2022 to 4292.81 riyals, up by 14.5% compared to the price of March 2022, which amounted to 3747.95 riyals, and up by 27% compared to April 2021, which amounted to 3377.8 riyals. As for …
Rebar prices in the local market in the UAE witnessed a decline of 8% during May, from an average of about 3,200 dirhams per tonne last March to about 2,950 dirhams per tonne, according to sources working in the building materials trade. The sources pointed out that the decline came after a sudden jump of …
UAE: Rebar absorbs the repercussions of the Ukrainian crisis and is down by 8% Read More »
Carbon dioxide emissions from the world’s steel sector will fall 30% by 2050 compared with last year as more mills turns to less-polluting electric arc furnaces (EAF), consultancy Wood Mackenzie said. Around 48% of global crude steel will be made via EAF by 2050, increasing from 30% in 2021 and almost on a par with …
Steel industry carbon emissions to drop nearly 30% by 2050 in the world Read More »
The Bellara steel complex (wilaya of Jijel) of the Algerian-Qatari Steel Company (Algerian Qatari Steel) exported 100,000 tonnes of steel products in the first four months of the current year, its deputy general manager, Chaïb Setti Sofiane, on May 16, according to national radio channel I. The same official explained that the Bellara Steel Complex …
Electro mobility and the transition to green energy are only possible with the development and application of highly efficient battery technologies. The nickel content of these high-performance batteries is steadily growing. Most of this nickel and nickel sulfate is produced by refining ferronickel, which is commonly produced in submerged arc furnaces. SMS group has received …
The European Commission has announced an expiry review of the anti-dumping measures against imports of specific seamless pipes and tubes from China. The review was initiated based on the application submitted on February 10, 2022, by the European Steel Tube Association. The product in question consists of seamless tubes, seamless pipes and tubes of iron …
EU starts expiry review of AD duties on ex-China seamless pipes Read More »
According to the prices of the global steel markets, the scrap price reached 490$/tonne , Iron ore price was 128$/tonne , while the prices of billets ranged between 610 and 660$/tonne, and the prices of rebar ranged between 810 and 840$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
Emirates Steel Arkan announces its financial results for the first quarter of 2022 Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded building materials company in the UAE, announced its first quarter results. The Group reported revenues of AED 2.04 billion for the first quarter of 2022, compared to AED 233.5 million in …
Minister of Energy and Mines Mohamed Arkab received, on May 11, in Algiers, the Secretary-General of the Arab Iron and Steel Union, Dr Kamel Djoudi, and discussed ways to enhance cooperation between Algerian companies and the Union, according to a ministry statement. During this meeting, which took place at the Ministry’s headquarters, in the presence …
Arkab receives the Secretary-General of the Arab Iron and Steel Union Read More »
The Export Council for Building Materials, Refractories and Metal Industries announced that Egypt’s exports of “iron and steel” increased by 3% in the first quarter of this year, to record $343 million, compared to $335 million during the first quarter of 2021. The monthly report issued by the Council showed that in the first quarter …
Egypt’s steel exports rise to $343 million in Q1 2022 Read More »
• Group achieves Q1 net profit of AED 72.6 million on revenue of AED 2.04 billion • Arkan Group adopts interim brand “Emirates Steel Arkan (ADX: EMSTEEL)” Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded building materials company in the UAE, today announced its first quarter results. The Group reported revenues of …
Tabbin Institute for Metallurgical Studies is organizing the Seventh Forum for Occupational Safety and Health on Wednesday, May 18, 2022, under the patronage of His Excellency the Minister of Trade and Industry, Dr. Nevin Jameh, at the Ramses Hilton Hotel – Downtown – Cairo.
The National Agency for the Promotion and Rationalization of Energy Use (APRO) signed a framework agreement on May 10 with “Tosyali Algeria” in the field of renewable energies and energy efficiency, according to a statement from the Ministry of Energy Transition and Renewable Energies. This framework agreement was signed at the ministry’s headquarters by the …
Framework agreement signing between “ABRO” and “Tosyali Algeria” Read More »
China’s steel consumption fell 5 percent year on year during the first quarter of the year (Q1) partly due to waning demand as the resurgence of domestic COVID-19 cases slowed down the construction of many projects. From January to March, steel consumption of the building industry dropped 7 percent from a year ago, while that …
According to statistics from the Turkish Statistical Institute (TUIK), in April of this year, the domestic Producer Price Index (PPI) of the Turkish industry in general increased by 7.67% month-on-month and by 121.82% year-on-year, while the average increase was 72.03% for the last 12 months. In April, the domestic Producer Price Index of the base …
Average metal prices in Turkey increased by 118.2% in 12 months Read More »
