Finished Products

EU starts registration process for HRC imports from four countries

The European Commission has announced that it has started the registration process for imports of HRC from Egypt, India, Japan and Vietnam, which are subject to ongoing antidumping investigations. The registration of imports, which will expire in nine months, will enable the retroactive collection of antidumping duties if necessary. With the registration, the commission aims …

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EMSTEEL increases rebar prices for November

EMSTEEL, the UAE-based company, has announced that its rebar prices for November production will be AED 2,560 ($697) per tonne in Abu Dhabi and AED 2,568 ($699) per tonne in Dubai, Sharjah and the Northern Emirates. This marks an increase of $30 per ton compared to last month’s prices. Headquartered in Abu Dhabi, EMSTEEL has …

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Steel prices in the fourth week of October 2024

According to the prices announced in the global steel markets, scrap prices amounted to $365/ tonne, $7down compared to last week’s prices. and iron ore prices $101/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 475 – 500 Dollars per tonne, while it was between 475 – 510 …

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Egyptian steel industry witnessed an improvement in Jan – Sep. 2024

News, Public Reports / By user

The Egyptian steel industry witnessed an improvement in the rate of crude steel production by 6% in the first nine months of this year to 7.9 million tons, accompanied by a significant increase in the production of rebar by 11% compared to the same period last year to 6.4 million. The increase in sales was …

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China to Keep high steel exports in 2025

News, Public Reports / By user

China’s steelmakers are expected to continue exporting large amounts of steel in 2025, potentially exacerbating trade tensions as they grapple with overcapacity and weak domestic demand. The country’s steel exports are expected to exceed 100 million metric tons this year, the highest since 2016, with a 21.2% increase to 80.71 million tons in the first …

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China’s rebar output down 15.7% in January-September 2024

In the January-September period this year, China’s rebar production totaled 145.056 million mt, down 15.7% year on year, according to China’s National Bureau of Statistics (NBS). In the given period, domestic wire rod production amounted to 100.33 million mt, declining by 4.2% year on year, while welded pipe output came to 43.995 million mt, down …

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US rebar imports down 24.3% in August

According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 63,287 mt in August this year, down 24.3% month on month and down 144.2% year on year. By value, rebar imports totaled $41.4 million in August this year, compared to $47.5 million in July and $93.8 million in August …

US rebar imports down 24.3% in August Read More »

For the first time in 6 years, China will account for less than half of global steel consumption

China is expected to account for less than half of global steel consumption in 2024, the first time in six years, according to the World Steel Association. This is due to the contraction of the country’s real estate sector, which is severely affecting demand for the metal. The World Steel Association’s forecasts indicate a divergence …

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Rebar prices in Saudi Arabia decline in Jan. – Sep. 2024

Rebar market in Saudi Arabia witnessed a decline in prices in the first nine months of 2024 compared to the same period in 2023, as the average price of rebar in January – September of this year reached 2896.51 riyals, a decrease of -4.3% compared to the average for the same period in 2023, which …

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Building materials prices record slight declines in Q2 2024

Prices of major building materials groups recorded slight relative declines during the second quarter compared to the first quarter of 2024, as cement prices decreased by 1-3%, while rebar decreased by about 4.8% in the same comparison, according to data from Dubai Statistics, published by Dubai Digital. As for rebar, twisted steel measuring (6-8) millimeters …

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Al Yamamah Steel signs two contracts to supply steel towers worth 309 million riyals

On October 20, 2024, Al Yamamah Steel Industries Company signed a contract to supply steel towers with Larsen & Toubro Saudi Arabia for the project to establish a 500 kV ultra-high voltage line from the central region to the western region (phase three) worth 170.5 million riyals. The company said in a statement on Tadawul …

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Egyptian steel factories deny deliberately dumping the Moroccan market with CR steel

Iron and steel source attributed the growth of cold steel sheet exports to Morocco because of their low prices compared to competing countries in the Moroccan market, including China. The imports of CR steel from Egypt to Morocco increased by 343% in 2022-2023, while about 6 thousand tons were recorded in the first 5 months …

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Steel prices in the third week of October

According to the prices announced in the global steel markets, scrap prices amounted to $272/ tonne, $13 down compared to last week’s prices. and iron ore prices $102/ tonne, $5 down compared to last week’s prices. While the prices of billets ranged between 475 – 510 Dollars per tonne, while it was between 480 – …

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Morocco: Ministry initiates anti-dumping probe into CR steel imports from Egypt

The Moroccan Ministry of Industry and Trade has officially announced the launch of an anti-dumping investigation into imports of CR steel from Egypt. This investigation comes following a complaint filed by Maghreb Steel, the only Moroccan flat steel producer in Morocco, which alleges that these imports are being dumped in the Moroccan market at unfair …

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Turkey imposes anti-dumping duties on steel imports

Turkey has imposed anti-dumping duties on some steel imports from China, Russia, India and Japan, with the highest duties on imports from China, according to a decision published in Turkey’s Official Gazette. The decision said the duties would range from 6.10% to 43.31% of cost, insurance and freight (CIF) prices, in a move aimed at …

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Algeria bans import of some steel products

The National Association of Banks and Financial Institutions issued an instruction prohibiting the import of some steel products. The association said it received a telegram from the Secretary General of the Ministry of Trade and Export Promotion asking banks not to approve bank domiciliation requests related to the import of some steel products intended for …

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Steel prices in the first week of October

According to the prices announced in the global steel markets, scrap prices amounted to $385/ tonne, $17 up compared to last week’s prices. and iron ore prices $110/ tonne, $8 up compared to last week’s prices. While the prices of billets ranged between 470 – 495 Dollars per tonne, while it was between 455 – …

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Morocco to develop four new types of steel locally

The state will support Maghreb Steel, the main national player in the steel industry, in the development of four innovative projects. The company will benefit from financial support as part of the industrial innovation support program funded by the Innovation Support Fund (FSI), according to the Moroccan website Ludisk. The objective of the contract signed …

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Jordan Steel announces rebar prices for October 2024

Jordan Steel Company announced rebar prices for October 2024, a decrease of between 2-5 dinars over last month’s prices. The prices for Grade 60 EXW, between 451 and 457 dinars per tonne, excluding sales tax. However, with sales tax, it is between 537 and about 545 dinars per tonne. Grade Price without tax Price …

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Canada to impose tariffs on Chinese steel, aluminum

Canada has published a list of dozens of Chinese steel and aluminum products that will be hit with 25% tariffs, starting in three weeks. The tariffs, announced in August alongside a 100% tax on electric cars made in China, bring Canada’s trade policy more in line with that of its closest allies and are aimed …

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Turkey’s steel export value up 19.0% in January-August 2024

According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Under secretariat of Customs, in August this year Turkey’s foreign trade deficit decreased by 42.7% to $4.99 billion compared to August 2023. In the JanuaryAugust period this year, Turkey’s foreign trade deficit went down by 33.5 % year …

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Steel prices in the last week of September 2024

According to the prices announced in the global steel markets, scrap prices amounted to $368/ tonne, $1 up compared to last week’s prices. and iron ore prices $102/ tonne, $10 up compared to last week’s prices. While the prices of billets ranged between 455 – 585 Dollars per tonne, while it was between 455 – …

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Saudi Iron and Steel Company – Hadeed – Reduces Rebar Prices for October Delivery

Saudi Iron and Steel Company (Hadeed) will reduce its long steel prices for October deliveries due to sluggish demand, according to market insiders. The company plans to lower the price of rebar (12-32 mm) by SAR 70 ($19) per ton, bringing the new price to SAR 2,300 ($613) per ton. Similarly, the price of wire …

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Fitch: Global steel sector faces increasing pressures due to falling demand

Fitch Ratings indicated that the global steel sector is facing increasing pressures due to falling demand and prices, especially with the rise in Chinese exports that weaken producers’ profit margins. The rating outlook for global steel companies varies based on their debt reduction paths and liquidity risks. In Europe, maintenance operations that halted production at …

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Steel prices in the third week of September 2024

According to the prices announced in the global steel markets, scrap prices amounted to $367/ tonne, $3 down compared to last week’s prices. and iron ore prices $92/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 455 – 585 Dollars per tonne, while it was between 450 – …

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China’s rebar output down 15.7% in January-August 2024

In the January-August period this year, China’s rebar production totaled 129.685 million mt, down 15.7% year on year, according to China’s National Bureau of Statistics (NBS). In the given period, domestic wire rod production amounted to 88.568 million mt, declining by 4.5% year on year, while welded pipe output came to 38.729 million mt, down …

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National Iron Industry Committee: 7.5 million tons expected demand for reinforcing steel in 2024

Jassim Al Abbas, Vice Chairman of the National Iron Industry Committee and General Manager of Sales, Marketing and Business Development at Al Ittifaq Steel Company, said that the expected demand for reinforcing steel and coils during the current year 2024 is about 7.5 million tons. Al Abbas explained in an interview with Argaam on the …

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Canada unveils final dumping margins for Egyptian wire rod exporters

Canada has issued a final determination on the dumping of Egyptian wire rod, according to a notice from the Canada Border Services Agency (CBSA). The CBSA also confirmed final antidumping margins on wire rod imports from China and Vietnam. As a result, Egyptian wire rod exports, particularly from Suez Steel, will face an 8.6% antidumping …

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Steel prices in the second week of September 2024

According to the prices announced in the global steel markets, scrap prices amounted to $370/ tonne, $6 up compared to last week’s prices. and iron ore prices $92/ tonne, $9 unchanged compared to last week’s prices. While the prices of billets ranged between 455 – 565 Dollars per tonne, while it was between 450 – …

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Report expects Egypt’s steel consumption to grow to 6.8 million tons in 2024

A report by Ezz Steel expects Egypt’s reinforcing steel consumption to increase by 5% in 2024 to 6.8 million tons, driven by the completion of infrastructure projects, the payment of contractors’ dues, and the expected resumption of new building permits. Flat steel consumption is also expected to remain stable at 1.5 million tons in 2024, …

Report expects Egypt’s steel consumption to grow to 6.8 million tons in 2024 Read More »