According to the export data from the US Department of Commerce, in March 2022, the monthly steel exports increased by 15.9% from February with 764,882 mt, a year on year comparison shows a 6.7% increase. In terms of value, in March 2022, US steel exports totalled $1.43 billion, compared to $1.19 billion in February and …
Saudi Arabia’s Ministry of Industry and Mineral Resources said it had provided $6 billion for a steel plate complex and an electric car battery metal factory as part of plans to attract $32 billion in investment in the mining sector. The Minister of Industry and Mineral Resources Bandar Alkhorayef said that the ministry’s goal is …
Saudi Arabia announces $6 billion investments in steel complex Read More »
According to the prices of the global steel markets, the scrap price reached 535$/tonne , Iron ore price was 139$/tonne , while the prices of billets ranged between 680 and 730$/tonne, and the prices of rebar ranged between 880 and 900$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
Maintenance work for some units in the hot zone is scheduled from May 2 to 16 at the Sider El Hadjar steel complex in Annaba, General Management announced on April 28, 2022, in a press release. According to the same source, the units concerned by the maintenance operation are those relating to the preparation of …
Sider El-Hadjar complex: maintenance work on hot zone units Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), in March this year Turkey’s foreign trade deficit increased by 75.1% to $8.17 billion compared to March 2021. In the January-March period this year, Turkey’s foreign trade deficit rose by 138.5% year on year to $26.40 billion. In March, Turkey’s iron …
Turkey’s steel export value up 49.9% in Jan-Mar 2022 Read More »
According to the prices of the global steel markets, the scrap price reached 550$/tonne , Iron ore price was 146$/tonne , while the prices of billets ranged between 680 and 720$/tonne, and the prices of rebar ranged between 880 and 900$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
BMM Ispat selects the most-modern BF technology for its new ironmaking investment for the expansion of its steel plant in Danapur, Indian steel producer BMM Ispat awarded Danieli Corus a contract for a complete, 880,000 tpy blast furnace complex. The plant will be installed in an iron ore-rich area in India’s Karnataka state, where BMM …
Danieli to supply BF complex to India’s BMM Ispat,with 880,000-TPY, Read More »
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Inflationary pressures today are felt by the majority of economies, whether developed or developing, and despite their different causes across countries, the task of solving the problem will ultimately fall on the shoulders of the major central banks in the world. As inflation rose rapidly during the last period, after the United States announced it, …
Repercussions of Inflation on Arab Region Economy Read More »
SMS group has been chosen by Jindal Stainless Limited to build a new blast furnace at their Kalinganagar unit in India. The blast furnace will have a production capacity of two million tons of hot metal per year. The plant will serve both existing downstream steelmaking facilities, as well as future ones. The contract for …
SMS group secures order from Jindal Stainless Limited for a new blast furnace Read More »
In the first quarter of 2022, Qatar Steel resumed its second DRI facility (1.5 million tonnes) against the first facility (0.8 million tonnes), which operated until 2021. As a result, the production volume of all-steel value chain segments (DRI/HBI, billet, and long steel) improved by 20% year-over-year and 33% compared to the fourth quarter of …
In the January-March period this year, China’s apparent consumption volume of crude steel amounted to 235 million mt, down 9.5% year on year, according to the China Iron and Steel Association (CISA). In the first three months of the year, the steel consumption from major industries saw a year-on-year decline of 5%, with 7% decline …
China’s apparent crude steel consumption down 9.5% in Q1 Read More »
Emirates Steel Arkan Group, the UAE’s largest publicly traded steel and building materials company, saved AED 220 million in 2021 due to higher efficiency as the Group accelerates its strategy to harness innovation and unlock future-proof solutions. Reflecting its knowledge-based creative culture, innovative ideas submitted through Emirates Steel’s strategic transformation program “Namaa” by employees helped …
Emirates Steel Arkan Group saved AED 220 million through innovation in 2021 Read More »
Ahmed El-Zeini, head of the Building Materials Division, announced that some iron companies started reducing prices, as Ezz Steel reduced the iron prices of a tonne by about 830 pounds for the May prices 2022 so that the price of a tonne of Ezz Steel reaches 19170 pounds, delivery to the factory land includes value-added …
Building Materials Chamber: Rebar prices fell 830 pounds in the Egyptian market Read More »
A Reuter’s poll of economists said that the economic growth of the Gulf Cooperation Council countries would accelerate this year to a pace not seen in the last ten years, and experts said that high inflation and a slowdown in the global economy are the most significant risks. Crude prices, the main driver of Gulf …
GCC countries’ economies will grow by 5.9% in 2022 Read More »
Turkish company Tosyalı Holding has announced that its Algeria-based subsidiary Tosyalı Algerie will export 15,000 mt of pipes to Angola for projects including the expansion of Namibia Container Terminal, the rehabilitation of Port Sacomar and the expansion of Port Namibia. The expansion of the Namibia Container Terminal and the rehabilitation of Port Sacomar will reduce …
Tosyalı Algerie exports 15,000 mt of pipes to Angola Read More »
Egypt’s imports of iron ore increased significantly last January, as the total value of imports amounted to about 128 million and 358 thousand dollars, an increase of 110 per cent compared to January 2021, in which the value of imports amounted to about 60 million and 986 thousand dollars, according to the data of the …
Egypt’s imports value of iron ore increased by 110% in January Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.0 million tonnes (Mt) in March 2022, a 5.8% decrease compared to March 2021. Global crude steel production was 456.6 Mt in the first three months of 2022, down by 6.8% compared to the same period in 2021. Asia …
World crude steel production declined by 5.8% in March Read More »
According to the prices of the global steel markets, the scrap price reached 620$/tonne , Iron ore price was 150$/tonne , while the prices of billets ranged between 700 and 770 $/tonne, and the prices of rebar ranged between 920 and 950$ / tonne. Prices for iron and steel products in Russia and Ukraine were …
Brazilian miner and iron ore producer Vale has announced its operational results for the first quarter of this year. In the given quarter, the company produced 63.9 million mt of iron ore, down by six percent year on year and decreasing by 22.5 percent compared to the previous quarter, while its pellet production totaled 6.9 …
Vale’s iron ore output falls in Q1, coal output rises Read More »
According to the figures released by the Turkish Statistical Institute (TUIK), in March this year, Turkish producers’ foreign sales price index (PPI)* in general increased by 7.29 per cent compared to February and was up by 105.82 per cent year on year, while an average rise of 59.47 per cent was registered for the last …
Turkish metal producers’ foreign sales prices up 9.71% in March from February Read More »
US investment bank JP Morgan warned that the price of oil could reach $185 a barrel if the European Union decides to impose a speedy ban on the import of oil and natural gas from Russia. Natasha Kaneva, an economic analyst at the bank, said that any immediate ban on Russian oil would prevent 4 …
JP Morgan warns oil prices will rise to $185 if Russian oil imports are banned Read More »
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2022 and 2023. worldsteel forecasts that steel demand will grow by 0.4% in 2022 to reach 1,840.2 Mt after increasing by 2.7% in 2021. In 2023 steel demand will see further growth of 2.2% to reach 1,881.4 Mt. The current forecast is …
Tosyali Algeria will equip its steel complex, located in Bethioua (Oran), with a photovoltaic power plant. Indeed, Alp Topcuoglu, a member of the Board of Directors of Tosyali Algeria, accompanied by his adviser Hamid Gasmi, were received by the Minister of Energy Transition and Renewable Energies, Mr Benattou Ziane. The latter expressed his availability to …
Tosyali Algeria aims to manufacture green steel through a photovoltaic power plant Read More »
On April 19, the International Monetary Fund reduced its forecast for global economic growth during 2022 and 2023 by 0.8% and 0.2% respectively, compared to the update of the global economic prospects in January, by 3.6% in the two years. In the latest World Economic Outlook report released on April 19 during the Spring Meetings …
IMF lowers its forecast for global economic growth to 3.6% in 2022 Read More »
The International Monetary Fund revealed in a report its latest forecast for the Saudi economy for 2022. It was stated in the “World Economic Outlook” report issued by the Fund on April 19. According to the report, the International Monetary Fund raised its forecast for the growth of the Saudi economy in 2022 to 7.6 …
IMF reveals its expectations for the Saudi economy in 2022 Read More »
Sources revealed that Al-Ashry Steel Group acquired all the shares of the Arab Company for Special Steel (Arco Steel), which is affiliated to the National Bank of Egypt. The deal took place in several segments during the past three months. The “Al-Ashry Steel” Group’s acquisition of “ArcoSteel” came within the framework of its expansion plan, …
Al-Ashry Steel Group acquires the Arab special steel company (Arcosteel) Read More »
Natural gas prices in the United States of America recorded a new record high, reaching the highest level in 13 years.Futures jumped 10%, to trade as high as $8.05 per million British thermal units, the highest level since 2008, according to the American network “CNBC”. Over the course of the year, US natural gas prices …
IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022 The International Monetary Fund raised its forecast for Qatar’s economic growth in 2022 to 3.4%, compared to a previous forecast of 3.2%. In 2021, the Qatari economy recorded a real growth of 1.5%, compared to an estimate of the International Monetary Fund at …
IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022 Read More »
