Arab Steel Summit

Iron Ore

Iron Ore Prices Decline Amid Continued Weakness in China’s Real Estate Sector

Iron ore prices fell on Friday, closing the week with losses, as demand weakened in the real estate sector and construction activity slowed in China due to unfavorable weather conditions. The January 2026 iron ore contract on China’s Dalian Exchange dropped 1.1% to 776 yuan ($108.03) per ton, recording a 1% weekly loss. Meanwhile, on […]

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Egypt : Iron and Steel for Mines Sales Exceed EGP 1.3 Billion, Annual Profits Soar 458%

The financial indicators of Iron and Steel for Mines and Quarries revealed a substantial surge in annual profits, with net profit rising by 458% year-on-year. According to a statement issued by the company to the Egyptian Exchange, net profit for the period from July 2024 to the end of June 2025 reached EGP 702.96 million,

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Iron Ore Prices Rise After Steel Plant Shutdowns in China

Iron ore prices climbed in Asian trading, supported by news of a temporary shutdown of several steel plants in China, the world’s largest steel producer and consumer, due to air pollution concerns. Chinese consultancy Mysteel reported that some steel mills in the city of Tangshan have been ordered by authorities to halt production starting August

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Steel Prices Fluctuate in the Second Week of August Amid Supply and Demand Volatility

The global markets for raw materials and steel products witnessed notable price fluctuations in the second week of August 2025, driven by mixed supply and demand indicators and the impact of regional economic and trade factors. Scrap (mix 80:20) prices remained stable at $347 per ton CFR Turkey, ex-USA, recording a slight increase of $1

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Rio Tinto Expresses Doubts About the Future of Green Steel in Australia

Reuters reported that global mining company Rio Tinto has raised concerns about the feasibility of developing the green steel industry in Australia, pointing to the lack of sufficient economic incentives to support efforts to decarbonize steel production. The company explained that implementing such projects in Australia faces significant challenges, most notably the high construction costs,

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Global steel prices remain largely Stable in the first week of August

Global steel and iron product prices showed relative stability during the week ending August 2, 2025, while some raw materials and semi-finished products experienced minor fluctuations. Steel scrap (HMS 1&2 mix 80:20) imported to Turkey from the USA remained unchanged at $346/ton CFR. On the other hand, iron ore (62%) from Australia continued its decline,

Global steel prices remain largely Stable in the first week of August Read More »

Egypt: Iron and Steel for Mines Sales to Reach EGP 125 Million in June

The Iron and Steel Company for Mines and Quarries reported total sales of EGP 124.99 million for the month of June 2025. In a disclosure to the Egyptian Exchange, the company stated that sales from the Bahariya Oasis mines accounted for EGP 124.95 million, while sales from the Beni Khaled-Samalut quarries amounted to approximately EGP

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Global Steel Product Prices Rise in the Fourth Week of July 2025

Global steel product prices saw a general upward trend during the fourth week of July 2025, driven by improved demand and reduced supply in key markets. Key Price Movements: Iron scrap (80:20 mix) imported from the United States to Turkey registered a slight decrease of $1, settling at $346 per tonne CFR. Iron ore (62%)

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Brazil’s Vale Records Highest Quarterly Iron Ore Production Since 2021

Brazilian mining company Vale beat analysts’ expectations for iron ore production in the second quarter of 2025, driven by record performance from its flagship mine in the Amazon. The company announced in a report released Tuesday that it produced 83.6 million metric tons of iron ore during the three months ending June 30, exceeding analysts’

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Steel prices in the third week of July 2025

According to the prices announced in the global steel markets, scrap prices amounted to $347/ tonne,$2 up compared to to last week’s prices. and iron ore prices $102/ tonne, $1cup compared to to last week’s prices. While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 430 –

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Iron ore prices rise to two-month high

Iron ore futures prices rose, driven by Beijing’s intention to reduce excess industrial capacity as part of its efforts to improve steel companies’ profit margins. Expectations of new incentives to support the real estate sector also boosted demand prospects in China. On Thursday, the September iron ore contract on the Dalian Exchange rose 1.3% to

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Iron ore futures rise as China-Australia relations improve

Iron ore futures rose, driven by improved relations between the largest producer, Australia, and its largest consumer, China, although gains were capped by ongoing concerns about the weakness of China’s property sector. The most-traded iron ore contract for September delivery on China’s Dalian Commodity Exchange rose 1.11% to 773.5 yuan ($107.71) per tonne by 03:03

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Steel prices in the second week of July 2025

According to the prices announced in the global steel markets, scrap prices amounted to $347/ tonne,$2 up compared to to last week’s prices. and iron ore prices $101/ tonne, $3 up compared to to last week’s prices. While the prices of billets ranged between 430 – 450 Dollars per tonne, while it was between 430

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Iron ore hits 3-month high on hopes of steel supply cuts

Iron ore futures rose for the third consecutive session, hitting multi-month highs, supported by renewed hopes for a new wave of reforms to curb steel production, along with expectations of further stimulus measures from China, the world’s largest consumer, which boosted market sentiment. The most-traded iron ore contract for September delivery on China’s Dalian Commodity

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Steel prices in the first week of July 2025

According to the prices announced in the global steel markets, scrap prices amounted to $345/ tonne, unchanged compared to last week’s prices. and iron ore prices $98/ tonne, $1 up compared to to last week’s prices While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 435 –

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Iron ore prices rise, supported by China’s measures to curb overcapacity

Iron ore futures prices rose on Thursday, amid China’s efforts to curb a price war and reduce excess production capacity, as part of a broader effort to stabilize the economy. The most active iron ore contract, for September delivery, ended the morning trading session on the Dalian Exchange, up 1.35% at 725 yuan ($101.19) per

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Iron and Steel Mining Sales Exceed EGP 251 Million in May

The Iron and Steel Company for Mines and Quarries announced total sales of EGP 251.04 million during the month of May. The company stated in a statement to the Egyptian Exchange today that sales from the Bahariya Oasis mines during May amounted to EGP 251.01 million. It added that sales from the Beni Khaled-Samalut quarries

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Steel prices in the last week of June 2025

According to the prices announced in the global steel markets, scrap prices amounted to $345/ tonne, $3 up compared to to last week’s prices. and iron ore prices $97/ tonne, $1 up compared to to last week’s prices While the prices of billets ranged between 435 – 460 Dollars per tonne, while it was between

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Steel prices in the fourth week of June 2025

According to the prices announced in the global steel markets, scrap prices amounted to $342/ tonne, $2 up compared to to last week’s prices. and iron ore prices $96/ tonne, $1 down compared to to last week’s prices While the prices of billets ranged between 435 – 460 Dollars per tonne, while it was between

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Iron ore prices fall for fifth day to lowest since April

Iron ore prices fell for the fifth consecutive day, continuing their downward trend amid a weak Chinese steel market. Futures contracts for the steelmaking material fell to their lowest levels since April, reaching $92 per ton this week. The price continues to decline as traders assess market fundamentals and lower Chinese demand for rebar. Iron

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Iron ore prices head to lowest level since September on demand concerns

Iron ore prices headed to their lowest close since last September, amid a seasonal slowdown in demand and signs that Chinese mills are cutting steel production. Futures fell for the fourth consecutive day in Singapore, falling below $93 per ton. Shanghai Metals Market explained in a note to clients that the rainy season in southern

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Steel prices in the third week of June 2025

According to the prices announced in the global steel markets, scrap prices amounted to $340/ tonne, unchanged compared to last week’s prices. and iron ore prices $96/ tonne, $1 down compared to to last week’s prices While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 430– 455

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ArcelorMittal opens a new iron ore concentrator in Liberia with a capacity of 20 million tons

ArcelorMittal has inaugurated a new 20 million tonnes per annum concentrator in Nimba Province, Liberia. The event was attended by President Joseph Bokai of Liberia and Executive Chairman Lakshmi Mittal, according to a press release. The project is the centerpiece of the second phase of ArcelorMittal’s large-scale investment program worth $1.8 billion, bringing its total

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China May iron ore imports fall on expectations of slow demand

China’s iron ore imports in May missed expectations, dropping 4.9% from April, as mills exercised caution in buying seaborne cargoes in anticipation of slower steel consumption, according to Reuters. The world’s largest iron ore consumer brought in 98.13 million metric tons of the key steelmaking ingredient last month, data from the General Administration of Customs

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Rio Tinto and Baowu officially open Western Rang mine

The Australian-British mining group Rio Tinto has announced the official opening of its new Western Range mine. Western Range, a joint venture between Rio Tinto and China’s Baowu (54% and 46%, respectively), has a production capacity of 25 million tons of iron ore per year. As noted, the $2 billion project was completed on time

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Steel prices in the second week of June 2025

According to the prices announced in the global steel markets, scrap prices amounted to $340/ tonne,$3 down compared to to last week’s prices. and iron ore prices $97/ tonne, unchanged compared to last week’s prices. While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 430– 455 dollars

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Australia : World’s largest iron ore reserve discovered, estimated at 55 billion tons

In a discovery that marks a turning point in the mining sector, massive iron ore deposits have been found in a remote area of Western Australia, with an estimated market value of approximately $6 trillion. These deposits, located in the Hamersley region, known for its mineral wealth, have been found to contain the world’s largest

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Iron ore prices decline as China’s industrial activity slows

Iron ore futures prices fell amid market concerns about the repercussions of trade tensions between the United States and China, after data showed a sharp decline in Chinese manufacturing activity to its lowest level in more than two years. The most widely traded iron ore contract for September delivery ended Tuesday’s session on the Dalian

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Steel prices in the first week of June 2025

According to the prices announced in the global steel markets, scrap prices amounted to $343/ tonne,$4 down compared to to last week’s prices. and iron ore prices $97/ tonne, $2 down compared to last week’s prices. While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 420– 455

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Iron ore prices fall on concerns about Chinese steel production cuts

Iron ore futures prices fell as markets assessed the possibility of a cut in steel production in China, which could weaken demand for the ore, a key component of the steel industry. During Tuesday’s trading on the Dalian Exchange in China, the most active iron ore contract for September delivery ended the session down 1.75%

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