The Libyan Iron and Steel Company announced that the bar rolling mill exceeded the annual target for 2021, achieving production of more than 209 thousand tons to reach 103% of the annual target of 203 thousand tons. The company added that it had produced 568,000 tons of reinforcing steel of various thicknesses and 704,000 tons …
According to the prices of the global steel markets, the scrap price reached 462$/tonne , Iron ore price was 118$/tonne , while the prices of billets ranged between 585 and 640$/tonne, and the prices of rebar ranged between 695 and 725$ / tonne. The following prices of iron and steel in the global markets on …
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It has been more than two years since the onset of the unprecedented crisis, due to the Coronavirus and its metaphors Delta and Omicron, and the world has mobilized all its capacities to control this rapidly spreading epidemic, in addition to the energy crisis that raises global economic pressures. Despite this, the global economy proved …
In 2021 The Economic Rrecovery Is Still Underway Read More »
Oil prices rose on Thursday to extend several consecutive days of gains, buoyed by data showing U.S. fuel demand holding up well despite soaring Omicron coronavirus infections. Brent crude futures rose 17 cents, or 0.2%, to $79.40 a barrel at 0217 GMT, climbing for a fourth day in a row. U.S. West Texas Intermediate (WTI) …
Shi Hongwei, vice executive secretary of China’s Iron and Steel Association (CISA), has stated that China’s crude steel output in 2021 will likely total 1.03 billion mt, down 35 million mt or 3.3% compared to 2020, while 990 million mt of apparent consumption of crude steel is anticipated in the given year, down by 5.5% …
China’s crude steel output and usage to drop by 3.3% and 5.5% in 2021 Read More »
With a shared ambition to reduce carbon emissions from iron and steelmaking, Metinvest, the international vertically integrated group of steel and mining companies (“Metinvest” or “the Group”), and SMS group and its subsidiary, Paul Wurth, have signed a Memorandum of Understanding (MOU) to work together to meet this challenge head-on. SMS group, as the world …
Metinvest Sign Mou with SMS Group To Face Decarbonization Challenge Together Read More »
Morocco’s Ministry of Industry and Trade has announced the results of the investigation for the extension of safeguard measures on imports of wire rod and rebar. The ministry has decided to extend the measures for imports of rebar and wire rod until October 15, 2023. The investigation was provoked on August 17, 2021, and closed …
Morocco extends safeguard measures on rebar and wire rod 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 220 10 mm Kuwait Ton 220 12 mm Kuwait Ton 220 14 mm Kuwait Ton 220 16 mm Kuwait Ton 220 Domestic Rebar Size Origin …
The China Iron and Steel Association (CISA) has announced that in mid-December (December 11-20) this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totaled 1.8905 million mt, down 2.66 percent compared to early December (December 1-10). In early December, the daily steel …
China’s daily steel output declines, stocks still rise Read More »
Within the framework of strengthening cooperation between the member companies of the Arab Iron and Steel Union, the General Secretariat of the Union organized a visit for a delegation from SIDER El Hadjar Complex Algeria to the Mineral Holding Company in Egypt to enhance cooperation between the two companies. The Managing Director of the Mineral …
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Indian steelmaker Tata Steel has drawn up plans to augment annual production from its captive iron ore mines to 45 million mt within the next five years from the current output of 30 million mt per year, a company official said. The higher annual iron ore production would come from the expansion of its operational …
Tata Steel to ramp up iron ore output 50% within five years Read More »
Egypt’s steel exports increased by 189% in the first ten months of this year to record $1.49 billion, compared to $560 million in the same period last year 2020. According to the report of the Export Council of Building Materials, Egypt exported to 80 countries, the most important of which was Spain, which came first …
Egypt’s steel exports jump 189% to $1.5 billion in 10 months Read More »
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand will grow by 4.5% in 2021 and reach 1,855.4 Mt after 0.1% growth in 2020. In 2022, steel demand will see a further increase of 2.2% to 1,896.4 Mt. The current …
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The Council of Arab Economic Unity held yesterday its fifty-fourth meeting of the Arab unions specialized in work quality, which was organized by the Council of Arab Economic Unity, in the presence of the leaders of the Arab unions specialized in quality. The Arab unions’ periodic meeting dealt with achievements and recommendations made at the …
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During their meeting in Britain last week, the Group of Seven rich countries recognized China’s successes in various fields, and expressed their fear of the communist dragon’s influence on the global economy, which prompted the group’s countries to develop a strategy to lay the foundations for a new world order to neutralize China. In this …
The future of the global economy rests with China Read More »
Despite the challenges of the Corona pandemic, the national economy achieved positive growth, contrary to what happened in many countries of the world, and the economy grew stronger, with the cash reserve in the Central Bank exceeding more than 40 billion dollars. According to the expectations of international financial institutions, which indicated high growth rates …
An overview of the Middle East and North Africa region At the beginning of 2020, the Arab countries were subjected to two major shocks; the first shock was the Coronavirus pandemic, and the subsequent economic effects like the rest of the world, while the second shock was the drop in oil prices. These two shocks …
Summary of the third report, the Economic Committee of the Arab Iron and Steel Union Read More »
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