According to the prices of the global steel markets, the scrap price reached 655$/tonne , Iron ore price was 151$/tonne , while the prices of billets ranged between 810 and 910$/tonne, and the prices of rebar ranged between 950 and 970$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
Nucor Steel has awarded SMS group, Inc. the contract to supply a complete melt shop for the new facility to be built in mason County, West Virginia. The scope includes two 190 metric ton direct current electric arc furnaces (DC EAF), two twin ladle furnaces, and two vacuum tank car degasser facilities. The mechanical supply …
SMS group to supply new melt shop to Nucor Steel West Virginia Read More »
The global economy has become more intertwined than ever before, and any crisis that occurs in a country or region causes other countries to suffer from its effects. We have also seen what happened to other countries of the world from the outbreak of the Corona pandemic, and how the developed countries paid the price …
The Mauritanian company SNIM and the Turkish company Tosyali signed a long-term contract to supply iron ore from the SNIM Company to the industrial units of the Tosyali Company in Oran, Algeria. This contract is a return to SNIM to supply iron ore to the nearby Maghreb market and allows Tosyali to find a nearby …
Signing a contract to supply Mauritania iron ore between SNIM and Tosyali Read More »
The price of iron ore rose on March 23, despite the decision by top steelmaking city Tangshan to implement a temporary lockdown. The Tangshan government implemented the lockdown on March 22 to avoid further cases of covid-19 as infections surged, the local government said in a statement. “Although consumption of steel products is relatively slow, …
Iron ore price rises despite lockdown on China steel hub Read More »
International Monetary Fund Managing Director Kristalina Georgieva said yesterday that new IMF forecasts due in April will show that the war in Ukraine will slow global economic growth, but not cause a global recession. In a webinar hosted by “Foreign Policy” magazine, the Director of the Fund stressed that some weak emerging economies that are …
IMF: An expected slowdown in global growth, Countries facing the risk of recession Read More »
The Ministry of Trade and Industry in the State of Kuwait announced the prices of building materials, as follows: Imported Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 295 10 mm Kuwait Ton 295 12 mm Kuwait Ton 295 14 mm Kuwait Ton 295 16 mm Kuwait Ton 295 Domestic Rebar Size Origin …
The United States and Britain ended a four-year dispute over U.S. steel and aluminum tariffs on Tuesday, pledging to work together to counter China in a deal that also removes retaliatory tariffs from other products. In a joint statement, U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai said the deal would protect …
New U.S.-U.K. trade deal cuts tariffs on British steel Read More »
Brent crude futures jumped more than $3 to $119 a barrel early Tuesday, a day after oil prices closed more than 7% higher as the European Union considers banning Russian oil. Oil prices closed more than 7% higher on Monday, and Brent crude jumped above $115 a barrel, while European Union countries disagreed over joining …
The Egyptian government reduced the value of the Egyptian pound on March 21 and moved its exchange rate against the US dollar, coinciding with the increase in the interest rate to absorb the exit of foreign investment from the country and control the high inflation wave. The average exchange rate of the pound against the …
Egypt moves the pound against the dollar, coinciding with the interest rate hike Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in February 2020 to 3591.70 riyals, up by 12 riyals compared to the price of January 2022, which amounted to 3579.34 riyals, and up by 118 compared to February 2021, which amounted to 3473.7 riyals. As …
Average prices of steel and cement in Saudi Arabia in February 2022 Read More »
According to final census data from the US Department of Commerce, US imports of wire rod totaled 130,152 mt in January 2022, up 32.3% from December and up 178.9% from January 2021 levels. By value, wire rod imports totaled $128.7 million in January 2022, compared to $94.9 million in December and $36.3 million in January …
In the January-February period this year, China’s rebar production totaled 34.818 million mt, down 13.8% year on year, according to China’s National Bureau of Statistics (NBS). Wire rod production amounted to 21.307 million mt in the given period, down 16.7% year on year. The Chinese New Year holiday and the Winter Olympics negatively affected production …
China’s rebar output down 13.8% in January-February Read More »
According to the prices of the global steel markets, the scrap price reached 650$/tonne , Iron ore price was 150$/tonne , while the prices of billets ranged between 810 and 905$/tonne, and the prices of rebar ranged between 940 and 970$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
Emirates Steel accelerates strategy to sell its high-quality products and tailor-made engineering services and solutions in key global markets Emirates Steel, part of the Arkan Group and the leading integrated steel plant in the Middle East, recorded a nearly 50% increase over the past two years in the number of its export markets in Europe, …
Emirates Steel’s exports expand to 56 international markets Read More »
The EU introduced, on 15 March 2022, a number of additional sanctions measures including in particular on the direct or indirect import of certain iron and steel products if they originate in or have been exported from Russia. It is estimated, in accordance with the European Commission’s (“EC“) press release on the new measures (available …
EU Imposes new Iron and Steel import restrictions from Russia Read More »
Oil prices fell by 6.5% at the end of trading on Tuesday, with Brent crude falling below $100 a barrel, with the release of the monthly OPEC report, and optimism about the Russian-Ukrainian talks. OPEC kept estimates of global oil demand and supply growth unchanged this year, but noted that the war in Ukraine was …
Brent crude prices are down 6.5%… and Brent crude is less than $ 100 Read More »
According to the prices of the global steel markets, the scrap price reached 650$/tonne , Iron ore price was 154$/tonne , while the prices of billets ranged between 890 and 910 $/tonne, and the prices of rebar ranged between 940 and 980 $ / tonne. Prices for iron and steel products in Russia and Ukraine …
The General Director of El Hadjar Iron and Steel Complex in Algeria, Lotfi Kamal Menaa, revealed that about 25,000 tons of iron products were exported to eight countries during the first quarter of this year. Lotfi Menaa, in a statement to the Algerian News Agency, confirmed that Sider El Hadjar has started exporting the first …
Sider El Hadjar exports iron to eight countries during the first quarter of 2022 Read More »
Mexico’s economy secretariat, SE, has extended for another five years existing antidumping (AD) duties on the imports of Russian, Ukrainian and Romanian steel plate. SE said the five-year period will count backwards from September 22, 2020. The extended duties follow a request from domestic producer Altos Hornos de Mexico (AHMSA). SE said the products subject …
Mexico extends AD duties on Russian, Ukrainian and Romanian plate imports Read More »
The Ministry of Trade and Industry in the State of Kuwait announced the prices of building materials, as follows: Domestic Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 265 10 mm Kuwait Ton 265 12 mm Kuwait Ton 265 14 mm Kuwait Ton 265 16 mm Kuwait Ton 265 Imported Rebar Size Origin …
Consolidated sales were MAD 4.49 billion at the end of December 2021, up 43% compared to 2020 and 24% compared to 2019, helped by the recovery in demand and a favorable pricing effect. Consolidated revenue for the fourth quarter was 1.38 billion dirhams, up 32% year-on-year. Sonasid continues its investment efforts, on the one hand …
The International Monetary Fund has warned that the dangerous global economic repercussions of the war in Ukraine will be “even more devastating” if the conflict escalates. Sanctions against Russia will have a “substantial impact on the global economy and financial markets, with side effects on other countries.” “At a time when the situation remains very …
IMF warns of “devastating” economic repercussions of the escalation in Ukraine Read More »
China has set its GDP growth target for 2022 at around 5.5%. This was revealed by the Chinese Premier Li Keqiang while delivering the government workreport at the opening session of the fifth session of the thirteenth National People’s Congress(NPC) in Beijing. Other key development goals expected this year include creating more than 11 million …
According to the prices of the global steel markets, the scrap price reached 628$/tonne , Iron ore price was 153$/tonne , while the prices of billets ranged between 830 and 860$/tonne, and the prices of rebar ranged between 880 and 915$ / tonne. Prices for iron and steel products in Russia and Ukraine were not …
According to data from Ezz Steel Company for the Egyptian Stock Exchange, The volume of domestic consumption of reinforcing steel increased in 2021 to reach 7,344 million tons, an increase of 7% over 2020, which recorded 6.865 million tons. The fourth quarter of last year achieved the highest consumption level by 27% over the third …
Egypt: Domestic steel consumption rises to 7.34 million tons in 2021 Read More »
The increasing uncertainty in the semi-finished products sector – the billet – due to the lack of supply and the increase in international prices led to a review of rebar prices in the Kingdom of Saudi Arabia along with the local construction activity. As of March 1, SABIC Steel announced a price increase of 50 …
Rebar prices rise in Saudi Arabia with the rise of semi-finished products Read More »
Brent crude futures rose more than 5 percent today, Wednesday, to $110.09 a barrel, the highest level since July 2014. The futures contracts for US light sweet crude, “West Texas Intermediate”, rose about 5.6 percent to reach $ 108.64 a barrel.
Russian steelmaker Severstal PJSC suspended sales to Europe, its biggest export market, after billionaire owner Alexei Mordashov was sanctioned, along with other tycoons in the country. loomberg News Agency quoted an informed source,the company, which sells about 3 million tons of steel per year to Europe, is looking at new avenues for sales after being …
Russian Steelmaker Severstal Suspends Europe Sales on Sanction Read More »
