Newsletter 42-2024
Newsletter 42-2024 Read More »
Iron ore prices rise to 3-month high
Since the end of September, the market has shown significant growth amid the recovery of the Chinese economy and raw material prices have continued to rise, reaching their highest level in three months amid hopes for the stability of the Chinese economy, especially in the real estate sector. January futures for iron ore, the most
Iron ore prices rise to 3-month high Read More »
World crude steel production declined by 6.5% during August 2024
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 144.8 million tonnes (Mt) in August 2024, a 6.5% decrease compared to August 2023. Africa produced 1.9 Mt in August 2024, down 7.2% on August 2023. Asia and Oceania produced 107.1 Mt, down 8.0%. The EU (27) produced 9.1
World crude steel production declined by 6.5% during August 2024 Read More »
Egypt: Returning to Building Law No. 119 of 2008 and stopping the current building requirements
Dr. Manal Awad, Minister of Local Development, announced the President of the Republic’s approval of the joint study prepared by the Ministry of Local Development in cooperation with the Ministry of Housing to cancel the building and planning requirements currently in effect in Egyptian cities in the governorates, which were issued in March 2021, and
POSCO and Primetals to collaborate on development of HyREX plant
South Korean steelmaker POSCO and Primetals Technologies have signed a cooperation agreement to develop and implement the HyREX demonstration plant. This is stated in the message of Primetals. As noted, the agreement, which was signed in July this year, is based on a memorandum of understanding dated 2022. The parties have now started implementing the
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Global rebar prices mostly stabilized in July
Global rebar prices have remained stable in most major regions of the world since the beginning of July. The market stagnation is due to the slowdown in demand for steel. At the same time, the Chinese market is witnessing a decline in demand. Rebar prices in Turkey remained stable at US$575-580 per ton FOB during
Global rebar prices mostly stabilized in July Read More »
Rio Tinto production and exports declined by 2% in H1 of 2024
The British-Australian mining company Rio Tinto announced its production volume in the second quarter of current year to 79.5 million tons. The volume of exports in the same period reached 80.3 million tons, an increase by 3% compared to the first quarter of current year and an increase by 2% compared to the second quarter
Rio Tinto production and exports declined by 2% in H1 of 2024 Read More »
Midrex :Producing 76 million tons of direct reduction iron in the world in 2023
Global production of direct reduced iron (DRI) in 2023 using Midrex technology reached 76 million tons in 2023, an increase of 3.3% from 2022. This was stated in the Midrex report. In 2023, Midrex technology accounted for about 80% of global DRI production. Meanwhile, at least 9 plants set new annual records, and another 9
Midrex :Producing 76 million tons of direct reduction iron in the world in 2023 Read More »
Türkiye’s steel exports increased by 48.6% in Jan. – May 2024
In the period from January to May 2024, Turkey’s steel exports increased by 48.6% compared to the same period in 2023, to 5.4 million tons, according to data from the Turkish Steel Association (TCUD). While Turkey’s steel imports decreased by 12.1% in the period from January to May 2024, to 7.1 million tons. Steel consumption
Türkiye’s steel exports increased by 48.6% in Jan. – May 2024 Read More »
China’s rebar output down 12.8 % in January-April
From January to April this year, China’s total rebar production reached 66.306 million tons, down 12.8 percent year on year, according to the National Bureau of Statistics of China. In the same period, the production of domestic wire rods reached 42.883 million tons, a decrease of 7.1% year-on-year, while the production of welded pipes reached
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Tata Steel has signed a contract to build an electricity network to operate the electric arc furnace in Port Talbot.
Steelmaker Tata Steel has signed a contract with National Grid to build the power grid and energy infrastructure needed to convert its Port Talbot plant to green steel production, Bloomberg reported. The agreement stipulates that National Grid will build a new electricity grid capable of supplying energy to the company’s electric arc furnace, which has