The deal was concluded for $324 million to settle the debts of companies affiliated with the Beshay Group The “National Service Projects Agency” in Egypt acquired up to 24% of 3 companies affiliated with the “Beshay Steel” group in deals amounting to about EGP 10 billion ($324 million) to settle debts, according to two sources …
The National Service Authority in Egypt acquires 24% of 3 steel companies Read More »
BEIJING (Reuters) – Cities in China’s eastern province of Anhui are issuing plans to curb production in the steelmaking, non-ferrous smelting, cement and coal-fired power sectors over the coming winter in a drive to meet a politically crucial air pollution target. Anhui, a key non-ferrous smelting province, took the initiative to curb output even though …
China’s top smelting province to cut output in several industries in clean air push Read More »
Hitachi Energy announced that it has delivered the “E-House” power station to the European steel manufacturing company OVACO, one of the largest steel recycling companies in the Nordic countries, in order to deliver electrical current to a analyzer with a capacity of up to To 20 MW in Hofors, Sweden. This is the first factory …
Providing the world’s first green hydrogen plant with an electric steel heating system Read More »
The Executive Director of the International Energy Agency, Fatih Birol, expects that global demand for oil, gas and coal will reach a maximum in the coming years of this decade, as he wrote in a report for the Financial Times and reported by Agence France-Presse. Birol warned of the repercussions of this demand on the …
Birol: Global demand for oil, gas and coal will peak this decade Read More »
India’s JSW Steel Limited achieved consolidated crude steel production of 2.286 million mt in August this year, up 19 percent year on year, according to a company regulatory filing on Monday, September 11. Crude steel production from its Indian plants was reported at 2.215 million mt in August, up 17 percent year on year, while …
India’s JSW Steel Limited achieves consolidated crude steel output rise of 19% in August Read More »
General Secretariat of Iron and Steel extends its deepest condolences and sympathy to the Nigerian contingent and to the families of the victims of the floods that struck the country and claimed the lives of many people, the wounded and the missing, and left a great legacy. Asking God Almighty to inspire those with patience …
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Oil prices came and approached 90 US dollars, supported by expectations, as the main producers maintain the suspended restrictions, in addition to increasing hopes that the Federal Reserve (the US central bank) will leave interest rates unchanged to the side and do not want. Contracts for the fifth Brent November (November) increased 0.3 percent at …
The Secretary-General of the United Nations, Antonio Guterres, announced today (Thursday), during a summit of the Association of Southeast Asian Nations (ASEAN), China, the United States and other countries in Indonesia, that the world is facing the risk of a “massive crack” in its economic and financial systems. In a diverse speech that touched on …
Guterres: The world faces the risk of a massive rift in its economic systems Read More »
Eduardo Bartolomeu, CEO of the Brazilian miner Vale, said the company plans to achieve a production pace of 100 million mt per year of pellets and briquettes in 2030. The total volume is expected to reach between 36 million mt and 40 million mt in 2023. Bartolomeo mentioned that two of Vale’s eight pellet plants, …
Vale unveils plan to increase production of agglomerated iron ore products Read More »
Japan-based steelmaker Osaka Steel, a subsidiary of Nippon Steel, has announced that it will make an investment of about JPY 8.7 billion ($59.02 million) to install a new electric arc furnace at its Sakai plant, aiming to save energy and cut its carbon footprint. The electric arc furnace, which is called EcoArc-light, will be supplied …
Japan’s Osaka Steel to set up environmentally friendly EAF at Sakai plant Read More »
German plantmaker SMS Group has announced that it has signed a cooperation agreement with German steel plate producer Dillinger Group to accelerate digitalization of the iron and steelmaking process. The companies, who will develop advanced raw material tracking technology for improved process control, will optimize blast furnace operation by modeling and digitalizing logistics processes. “This …
SMS and Dillinger to accelerate digitalization of steelmaking process Read More »
According to a statement on its website on Sunday, the Saudi Public Investment Fund announced a deal to launch a giant company for the iron and steel industry through its acquisition of the two largest iron companies in the Kingdom. According to two separate statements from the Public Investment Fund and the Saudi Basic Industries …
The Saudi Public Investment Fund acquires the two largest steel companies in the Kingdom Read More »
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Saudi Arabia and Turkey signed a memorandum of understanding for cooperation in the field of mining during a meeting between Bandar Al-Khorayef, Saudi Minister of Industry and Mineral Resources, and Alp Arslan Bayraktar, Turkish Minister of Energy and Natural Resources, in Ankara on Monday. Bayraktar said, in statements after the meeting, that he hosted Al-Khorayef …
A Saudi-Turkish understanding for cooperation in the field of mining Read More »
Indian steel magnate Sajjan Jindal expressed his desire for the government to counter US tariffs and European carbon taxes with similar fees to level the playing field for companies like his, JSW. In an interview in New Delhi, Jindal referred to the expectations of the main company, JSW Steel, and confirmed a report issued by …
India’s Jindal seeks to impose duties on steel imports Read More »
The Egyptian Cabinet said in a statement that it approved a proposal from the Orascom Construction Alliance to establish renewable energy projects with a capacity ranging between 150 and 200 megawatts. According to Reuters, the alliance includes the French company Engie and the Japanese company Toyota Tsusho. The coalition has already developed a 262.5 MW …
Japanese iron scrap exports in July this year reached 566,718 tons, an increase of 30.2 percent compared to 435,132 tons in the same month of the previous year, according to customs statistics. From January to July this year, Japan exported 4.03 million tons of scrap, an increase of 12.6 percent year on year. During the …
Scrap exports in Japan increased by 12.6% during the period from January to July 2023 Read More »
Efforts to shift towards renewable energy contributed to reducing the cost of generating electricity last year, as it is less expensive than fossil fuels, whose prices inflated in 2022 to historical levels. New energies added since 2000 have reduced the cost of fuel in the electricity sector in 2022 by no less than $520 billion. …
Renewable energy will reduce $520 billion in electricity generation costs in 2022 Read More »
Despite the challenging economic environment, the Egyptian steel sector demonstrated surprising resilience. The country increased crude steel production in both July and the first seven months of 2023. Nevertheless, the pressure on mills has been growing day by day. Egypt produced 5.6 million t of crude steel in January-July 2023, indicating a 2% increase in …
Egypt ramps up steel production by 2% year-to-date Read More »
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