The General Authority of the Suez Canal Economic Zone announced the laying of the foundation stone for the integrated industrial complex of the Chinese company Xinfeng Egypt Steel in the Sokhna Integrated Zone of the Suez Canal Economic Zone. The economic zone stated in a statement that the project includes nine diverse factories in its …
Foundation stone laid for Xinfeng Egypt Steel Complex in Sokhna Read More »
Baosteel, China’s largest listed steelmaker, said it is likely to cut production nationwide this year, citing external pressures on an industry already struggling with overcapacity and declining demand. Regarding the company’s first-quarter results, Cai Yanbo, deputy general manager of Baosteel, said the chances of a cut are high, as stated in the government report. Cai …
Baosteel Expects Production Cuts in 2025 Due to Weak Demand Read More »
Rebar prices in Egypt this week ranged between EGP 33,700 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 37,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 35,000, El Komy Steel EGP …
According to the prices announced in the global steel markets, scrap prices amounted to $324/ tonne, $24 down compared to last week’s prices. and iron ore prices $99/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 430 – …
India, the world’s second-largest producer of crude steel, has imposed a temporary 12% tariff on some steel imports to curb a surge in cheap shipments from China. The Indian Finance Ministry announced that the safeguard tariffs will be in effect for 200 days starting Monday unless they are revoked, replaced, or modified. Indian Steel Minister …
Rebar prices in Egypt this week ranged between EGP 34,500 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 37,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 35,500, El Komy Steel EGP …
According to export data from the US Department of Commerce, US exports of cold rolled coils totaled 48,412 mt in February this year, down 34.9% month on month and down 19.2% year on year. By value, CRC exports totaled $64.2 million in February, compared to $89.2 million in the previous month and $78.1 million in …
US CRC Exports and Imports Decline in February 2025 Read More »
POSCO Group, a leading South Korean steelmaker, said it will invest in Hyundai Steel’s US steel mill project as part of its strategy to address the comprehensive tariffs imposed by US President Donald Trump on steel imports. According to a press release, POSCO signed a memorandum of understanding with Hyundai Motor Group to participate in …
POSCO Invests in Hyundai Steel’s US Steel Mill Project Read More »
SMS group has completed the automation system upgrade of hot strip mill no. 1 at PT Krakatau Steel (Persero), Tbk. (PTKS) in Cilegon, Indonesia, marking a significant milestone with the production of the first sellable coil. This achievement underlined PTKS’s return to the Indonesian market as a producer of hot rolled coils following a lengthy …
According to the prices announced in the global steel markets, scrap prices amounted to $348/ tonne, $17 down compared to last week’s prices. and iron ore prices $97/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 430– 460 Dollars per tonne, while it was between 440 – 470 …
According to export data from the US Department of Commerce, monthly steel exports in February this year down 13.3% from January and 12.2% year on year to 613,979 mt. In terms of value, US steel exports in February totaled $1.08 billion, compared to $1.19 billion in January and $1.25 billion in February last year. Steel …
Rebar prices in Egypt this week ranged between EGP 35,000 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 35,500, El Komy Steel EGP …
SSAB, a global leader in steel manufacturing, has awarded SMS group an Early Services Agreement for the delivery of the cold rolling complex at its steel production facility in Luleå, Sweden. This project marks a significant step towards sustainable steel production, underscoring SSAB’s commitment to green technologies and processes. With an annual production capacity of …
SSAB and SMS group advance sustainable steel production Read More »
The European Union announced a 2.5% reduction in the provisional anti-dumping duty imposed on its imports of Egyptian hot-rolled steel, bringing it to 12.8% from 15.3%, effective April 7, for a period of six months until a final decision is made. The Chamber of Metallurgical Industries indicated that this amendment is the result of the …
EU Reduces Anti-Dumping Duty on Egyptian Steel to 12.8% Read More »
Ezz Steel, listed on the Egyptian Exchange under the code ESRS, has sent a clarification regarding the provisional anti-dumping duty imposed by the European Union. The company’s statement, sent to Mubasher Info, stated that it is necessary to correct some interpretations and provide an accurate account of the company’s position and the grounds for its …
Ezz Steel Clarification Regarding EU Anti-Dumping Duty Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $365/ tonne, $13 down compared to last week’s prices. and iron ore prices $98/ tonne, $5 down compared to last week’s prices. While the prices of billets ranged between 440 – 470 Dollars per tonne, while it was between 440 – …
Japan’s trade and industry ministry will consider taking action on imports of Chinese steel if any unfair practices are identified under World Trade Organization rules, a ministry official said on Thursday. The official also said that Japan will continue to urge the U.S. government to exempt it from steel and aluminum tariffs.
In February this year, Turkey’s wire rod exports amounted to 46,869 metric tons, down by 15.3% compared to January and by 66.7% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $26.99 million, decreasing by 16.0% compared to the previous month …
Turkey’s wire rod exports down by 51.7% in January-February 2025 Read More »
Rebar prices in Egypt this week ranged between EGP 31,800 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 33,000, El Komy Steel EGP …
According to the prices announced in the global steel markets, scrap prices amounted to $378/ tonne, $4 down compared to last week’s prices. and iron ore prices $103/ tonne, $3 unchanged from last week’s prices. While the prices of billets ranged between 440 – 475 Dollars per tonne, while it was between 440 – 475 …
The US administration has announced exemptions for a number of essential goods, including steel, aluminum, copper, and gold bullion, from retaliatory tariffs, according to an official document distributed by the White House. The White House said that steel and aluminum imports will not be subject to reciprocal tariffs, a move that will at least provide …
White House Exempts Steel, Aluminum, Copper, and Gold from Reciprocal Tariffs Read More »
Ezz Steel Company announced stability in prices starting from April 1, 2025 for the Seventh consecutive month at EGP 38,200 EXW, including value-added tax. Statement including VAT Rebar 38,200 EGP 1 USD = 50.70 EGP
According to the prices announced in the global steel markets, scrap prices amounted to $382/ tonne, $1 up compared to last week’s prices. and iron ore prices $103/ tonne, $3 up compared to last week’s prices. While the prices of billets ranged between 440 – 475 Dollars per tonne, while it was between 445 – …
Hot-rolled coil prices in China increased by $5/t from March 14 to March 21, to $480/t FOB, according to Kallanish. Since the beginning of the month, the increase was $10/t. It was accompanied by a clear improvement in domestic demand and the export situation. In January-February, Chinese metallurgical plants increased shipments to foreign buyers by …
Saudi Iron and Steel Company (Hadeed) has announced that long steel prices will remain unchanged for April deliveries. The company is offering rebar (12-32 mm) at SAR 2,350 ($626) per ton, while wire rod (6.5-16 mm) is set at SAR 2,320 ($618) per ton. Above prices are on a CPT Riyadh basis, excluding 15pct VAT. …
Hadeed leaves long steel prices unchanged for April deliveries Read More »
The European Union has introduced a set of stricter rules on its steel imports, citing concerns about global supply flooding the European market. The new rules place restrictions on the planned expansion of duty-free steel imports and tighten rules on handling unused import quotas. The European Commission said in a statement: “The tightened measure will …
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for April production will remain unchanged for the third consecutive month. The company has set the rebar price at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi, while shipments to Dubai, Sharjah, and the Northern Emirates are offered at …
Emirates Steel holds rebar prices steady for April production Read More »
India plans to impose a 12% “safeguard duty” on certain steel products for 200 days to protect its domestic industry from “serious injury” caused by a sharp increase in imports. While the move was welcomed by domestic manufacturers, it has raised concerns among manufacturing industries about rising costs. This decision comes as India faces the …
India plans to impose 12% tariff to protect domestic steel industry Read More »
Rebar prices in Egypt this week ranged between EGP 31,800 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 32,500, El Komy Steel EGP …
According to the prices announced in the global steel markets, scrap prices amounted to $381/ tonne, $1 up compared to last week’s prices. and iron ore prices $100/ tonne, $4 down compared to last week’s prices. While the prices of billets ranged between 445 – 475 Dollars per tonne, while it was between 435 – …