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 225 10 mm Kuwait Ton 225 12 mm Kuwait Ton 225 14 mm Kuwait Ton 225 16 mm Kuwait Ton 225 Imported Rebar Size Origin …
According to the prices of the global steel markets, the scrap price reached 496$/tonne , Iron ore price was 145$/tonne , while the prices of billets ranged between 650 and 700$/tonne, and the prices of rebar ranged between 730 and 750$ / tonne. The following prices of iron and steel in the global markets on …
The eurozone economy posted robust growth last year, official data showed, but fallout from the Omicron variant and an energy crunch have raised doubts about the bloc’s ability to sustain the pace. While historic, the 5.2 percent expansion failed to regain all the ground lost to the crash suffered in 2020, when the first shock …
Eurozone economy rebounds by 5.2% in 2021 after recession Read More »
According to data released on February 1 by the Brazilian Mining Institute (IBRAM), the Brazilian iron-ore exports in 2021 increased by 5% year on year to reach 358 million metric ton. IBRAM said the Brazilian iron-ore exports totaled $45 billion in value; it grew by 73% year-over-year. Iron ore accounted for most of Brazil’s total …
358 million mt , Brazilian iron ore exports in 2021 Read More »
Economic newspaper Numerous reports suggest that the era of cheap renewable energy is over, giving a new wave of uncertainty to global energy markets that have been hit by one supply crisis after another. The continuing decline in the production costs of wind energy, solar energy, and electric vehicle batteries has been described as the …
The shortage of raw materials affects the renewable energy industry Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) , in December last year the value of Turkey’s iron and steel imports increased by 84.6 percent year on year, totaling $2.81 billion. In the given month, iron and steel ranked in third place among the most imported products of the …
Turkey’s steel import value up 82.9 percent in 2021 Read More »
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According to the prices of the global steel markets, the scrap price reached 469$/tonne , Iron ore price was 146$/tonne , while the prices of billets ranged between 640 and 700$/tonne, and the prices of rebar ranged between 710 and 750$ / tonne. The following prices of iron and steel in the global markets on …
The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery. In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 158.7 million tonnes (Mt) in December 2021, a -3.0% decrease compared to December 2020. despite the decline in production in December, The world production of steel crude up by 3.6% compared to production in 2020. Crude steel production in …
According to the Chinese customs authorities, China’s steel scrap imports amounted to 555,500 tons in 2021. The largest scrap exporting countries were Japan with a volume of 392 thousand tons, representing 70.6% of the total imports, and South Korea with a volume of 95,700 tons representing 17.2% of the total volume of imports for 2021. …
The Ministry of Trade and Industry in the State of Kuwait announced the prices of rebar, as follows: Domestic Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 225 10 mm Kuwait Ton 225 12 mm Kuwait Ton 225 14 mm Kuwait Ton 225 16 mm Kuwait Ton 225 Imported Rebar Size Origin Unit …
SMS group will improve the efficiency of Magnitogorsk Iron & Steel Works (MMK) processes with the use of ‘syngas’, a combination of hydrogen and carbon monoxide which replaces a portion of the solid carbon fuels – setting the stage for greater decarbonization potential in the future. “We are excited to be able to work further …
SMS Group to Deploy Blast Furnace Decarbonization Technology Read More »
crude benchmarks rose for a fifth week in a row, gaining around 2% this week. Prices were up more than 10% so far this year on concerns over tightening supplies. Brent futures fell 49 cents, or 0.6%, to settle at $87.89 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, or 0.5%, …
According to the General Authority for Statistics, the average price of a ton of rebar in Saudi Arabia was 3578.1 riyals in December 2021, an increase of 1.45% compared to November 2021, which amounted to 3526.9 riyals, and an increase of 19.0% compared to the price of December 2020, which amounted to 3006.6 riyals. The …
Rising prices of rebar in Saudi Arabia in 2021, cement stability Read More »
The United States and the United Kingdom have agreed to begin talks on removing former President Donald Trump’s import taxes on British steel and aluminum in 2018. In a joint statement, U.S. Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and U.K. Trade Minister Anne-Marie Tevelyan said they would be working toward a swift …
US, UK begin talks on lifting steel and aluminum tariffs Read More »
Iron ore imports arriving in China decreased by 3.9% year on year to 1.124 billion mt in 2021, as announced by the Chinese customs authorities. This result was expected due to the curbs in production for steel which started in June last year. In the second half of the year, iron ore consumption declined by …
In 2021, China imported 14.268 million mt of finished steel, down 29.5 % year on year, as announced by the Chinese customs authorities. A similar trend was seen in the semi-finished steel segment and, though the final data are available yet, the total imports of steel (finished and semi-finished) are expected to be around 27-28 …
China’s finished steel imports down 29.5% in 2021 Read More »
In 2021, China exported 66.895 million mt of finished steel, up 24.6% year on year. Though overall production volumes in China dropped in 2021, lower consumption (especially in the second half of the year) led to a sharp increase in exports. But at the same time, the sharp increase compared to 2020 was partly due …
Arab Iron and Steel Union organizes its annual conference “15th Arab Steel Summit” on 7-8 November 2022, in Manama city, Kingdom of Bahrain, under the patronage of H.E. Zayed Bin Rashid Al Zayani, Minister of Industry and Trade in the Kingdom of Bahrain, which acquires special importance to what the Steel Arab Industry witnesses as changes …
According to final census data from the US Department of Commerce, US imports of rebar totaled 121,422 mt in November 2021, down 4.3% from October but up 81.6% from November 2020 levels. By value, rebar imports totaled $92.0 million in November 2021, compared to $102.2 million in October and $30.6 million in November 2020. The …
Introduction: Rolling is an industrial process that is considered one of the methods of forming metals. Its idea is to pass the metal cold or hot through heavy cylindrical objects with high hardness (called dolphins) in order to reduce the thickness of the plates or the diameter of the bars. Course Target: Discover technical skills …
China‘s steel output declined in 2021 amid the country’s endeavor to achieve carbon peaking and carbon neutrality goals. The country produced an estimate of 1.03 billion tonnes of steel last year, down 35 million tonnes from 2020, said the China Iron and Steel Association. In the first 11 months of 2021, China’s steel production reached …
In November last year, Turkey’s billet and bloom import volume increased by 177.8% month on month to 203,094 mt, up by 152.2% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $137.3 million, increasing by 158.2% month on month and up by 252.1% year …
Turkey’s billet imports up 92.3% in January-November Read More »
Ahmed El-Ziny, head of the Building Materials Division in the Chamber of Commerce, revealed that the Egyptian ports will receive 150,000 tons of billets next week from Ukraine and Russia, which will contribute to reducing iron prices during the coming period, noting that rolling mills based on billets sell tons of rebar for delivery, factory …
In November last year, Turkey’s rebar exports amounted to 462,685 metric tons, down 26.1% compared to October and decreasing by 24.8% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). The revenue generated by these exports totaled $321.2 million, decreasing by 25.9% compared to October and up 17.5% year …
Turkey’s rebar exports increase by 31.6% in January – November Read More »
Global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand. Brent futures settled up $1.02, or 1.3%, at $80 a barrel, almost back …
Oil Ends Up at $80/bbl as OPEC+ Sticks with Feb Output Hike Read More »
The UAE Central Bank expected the UAE’s gross domestic product to grow by 4.2% during 2022, compared to 2.1% for the previous year. The Central Bank expected the non-oil GDP to grow by 3.9% this year, amid the continued increase in public spending, positive expectations for credit growth, increased job opportunities, and the lifting of …
China will step up tax and fee cuts next year to stabilize economic growth and promote high-quality development, the country’s taxation authority has said, pledging to provide stronger support to smaller firms. The newly added tax and fee cuts in 2021 are expected to exceed 1 trillion yuan (about 157 billion U.S. dollars), Wang Jun, …
China to step up tax, fee cuts to stabilize growth next year Read More »
