Newsletter 03-2026
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Newsletter 03-2026 Read More »
Restarting U.S. Steel Blast Furnaces After Two-Year Shutdown
U.S. Steel has announced the initiation of procedures to restart one of its two idle blast furnaces in the state of Illinois, in a move that reflects an anticipated rise in industrial demand and a direct response to customer needs. The company stated that the decision comes as part of its normal operational planning for
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China is pushing to accelerate domestic iron ore projects in pursuit of independence
The China Iron and Steel Association has urged domestic iron ore producers to accelerate the implementation of key projects, as the world’s largest consumer of the ore faces a challenge due to its reliance on imported supplies from major producers such as BHP. Vice President Xia Nong said in a statement issued Monday evening that
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Iron and steel for mines achieves £30 million in sales during October
The Iron and Steel Company for Mines and Quarries announced that its sales reached EGP 29.6 million during October. In a statement to the Egyptian Exchange today, the company explained that its profits more than tripled during the first quarter of the current fiscal year, reaching EGP 80.5 million, compared to EGP 23.7 million during
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Canada supports its steel sector in the face of US tariffs
Canadian Prime Minister Mark Carney announced that the government will provide additional support to the steel sector to help it cope with US tariffs, in addition to working to strengthen the domestic market for these industries. Carney explained that Ottawa will reduce steel import quotas from countries that do not have free trade agreements with
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Mauritania receives $275 million for railway development
The African Development Bank and the European Investment Bank signed a $275 million financing package to help Mauritania modernize its main railway line. The two banks said in a statement that the agreement stipulates that the African Development Bank will contribute $150 million and the European Investment Bank $125 million to modernize the railway line
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The CEO of Al Ittifaq Steel Company stated that the current focus is on GCC markets due to global steel price conditions.
Sharjeel Azhar, CEO of Al-Ittifaq Steel, stated that the company’s largest markets are concentrated within the region and explained that Al-Ittifaq Steel was the first Saudi exporter to Canada, and has also exported to Hong Kong, Singapore, and countries in the Far East. However, With current global steel price levels, Azhar believes the main focus
ADNOC Gas and EMSTEEL sign $4 billion 20-year natural gas supply deal
ADNOC Gas announced on Wednesday the signing of a landmark agreement with EMSTEEL valued between $3.5 and $4.2 billion. The 20-year agreement, effective January 1, 2027, secures a stable and reliable supply of lower-carbon natural gas to power EMSTEEL’s operations and future growth. “This landmark agreement to supply EMSTEEL with lower-carbon natural gas underpins ADNOC
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The European Union refuses to relax digital rules in exchange for lower US steel tariffs
The European Union rejected a US request to ease its strict digital regulations in exchange for a reduction in US tariffs on steel and aluminum. The rejection came after US Commerce Secretary Howard Lutenick directly linked the EU’s digital regulations to the 50% tariffs on European metal imports. The European Commission has asserted that its
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Iron prices rise to a three-week high as global exports decline
Iron ore futures jumped to their highest level in three weeks after data showed a decline in shipments from the world’s largest producers of the raw material used in steelmaking. Iron ore was trading at around $106 per ton in Singapore on Tuesday. Shipments from Australia and Brazil fell by 2.7 million tons last week
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