The Iron and Steel Mines and Quarries Company recorded a jump in profits during the first nine months of the current fiscal year, with a growth rate of 281.42% year-on-year. The company stated in a statement to the Egyptian Exchange that it achieved a net profit after taxes of EGP 431.96 million during the period […]
Egypt: Iron and Steel Mines Company’s Profits Jump 281.4% in 9 Months Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $347/ tonne, $7 up compared to last week’s prices. and iron ore prices $101/ tonne, $3 up compared to last week’s prices. While the prices of billets ranged between 420 – 455 Dollars per tonne, while it was between 420– 450
Steel prices in the third week of May 2025 Read More »
Vale Oman signed a preliminary agreement with OQ Alternative Energy (OQAE) during Oman Sustainability Week, marking a major step in its strategy to decarbonize operations and transition to renewable energy in Oman. The agreement establishes a framework for powering Vale’s iron ore pelletizing plant in Sohar Port with renewable energy, supporting the future energy needs
Oman : Vale Plans to Switch to Renewable Energy for Iron Ore Pelletization in Sohar Read More »
Iron ore futures prices rose to their highest level in more than five weeks, driven by moves by the United States and China to reduce tariffs following a trade agreement. During Wednesday’s trading on the Dalian Exchange in China, the most active iron ore contract for September delivery touched its highest level since April 7,
Iron ore prices rise to 5-week high Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $340/ tonne, $10 up compared to last week’s prices. and iron ore prices $98/ tonne, unchanged from last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 420– 450 dollars per
Steel prices in the second week of May 2025 Read More »
Iron ore prices fell as China’s largest steel association confirmed it would proceed with production curbs, while long-awaited interest rate cuts by the People’s Bank of China failed to deliver a sustained improvement in market sentiment. Futures fell 1.5%, paring gains in iron ore prices, when the People’s Bank of China announced monetary easing measures,
Iron ore prices fall amid Chinese production curbs Read More »
In a strategic move toward enhancing industrial independence and reducing dependence on imports, Suez Steel, one of the largest iron and steel companies in Egypt and the region, announced the commencement of operations of two new factories, representing a qualitative leap in the production and technological capabilities of the heavy industries sector. The first factory
The Iron and Steel Mines and Quarries Company announced total sales exceeding EGP 131 million during the month of March. The company stated in a statement to the Egyptian Exchange that sales from the Bahariya Oasis mines during March amounted to EGP 130.98 million. It added that sales from the Beni Khaled-Samalut quarries amounted to
Egypt: Iron and Steel Mines Company Sales Reach EGP 131 Million in March Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $330/ tonne, $6 up compared to last week’s prices. and iron ore prices $98/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 420– 450
Steel prices in the first week of May 2025 Read More »
The President of the Republic of Algeria, Mr. Abdelmadjid Tebboune, oversaw the laying of the foundation stone for the “Iron Concentrate and Pellets” production complex project located in the “Toumiat” region of Bechar, as part of the Gara Djebilet iron ore mine exploitation project. The President had previously embarked on a working and inspection visit
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 –
Steel prices in the fourth week of April 2025 Read More »
The world’s largest steel miners face a difficult start to 2025, with production impacted by extreme weather conditions, while China, the largest buyer of the ore, prepares for a trade war. BHP Group, Rio Tinto Group, and Vale SA all announced lower quarterly shipments this week compared to last year, due to disruptions caused by
Trump’s Heavy Tariffs Hit Steel Companies Read More »
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
Steel prices in the third week of April 2025 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 –
Steel prices in the second week of April 2025 Read More »
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
Steel Prices in the First Week of April 2025 Read More »
Egypt’s imports of iron ores and concentrates increased by 1.9% in 2024, reaching $1.658 billion, compared to $1.627 billion in 2023. Foreign trade data issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that iron ores and concentrates accounted for 1.7% of Egypt’s total imports last year, which amounted to $94.7 billion.
Egypt’s iron ore imports to rise by about $1.7 billion in 2024 Read More »
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 –
Steel prices in the last week of March 2025 Read More »
Iron ore prices rose, supported by seasonal demand for the steelmaking metal amid mild weather, while gains were capped by increased production from Chinese companies. April iron ore futures on the Singapore Exchange rose 0.76% to $102.35 per tonne by 1:08 p.m. Mecca time. A note prepared by brokerage firm Hexson Futures, based on data
Iron ore futures rise on seasonal demand Read More »
The Iron and Steel Mines and Quarries Company achieved sales of EGP 156.75 million in February. Sales from the Bahariya Oasis mines in January reached EGP 156.69 million, and sales from the Beni Khaled quarries in Samalut reached approximately EGP 57,970. The profits of the Iron and Steel Company for Mines and Quarries increased by
Egypt: EGP 156.75 Million in Sales for Iron and Steel Mines and Quarries in February Read More »
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 –
Steel prices in the fourth week of March 2025 Read More »
In the January-February period this year, China’s iron ore production amounted to 158.353 million mt, decreasing by 12.6% year on year, according to China’s National Bureau of Statistics (NBS). Import iron ore prices moved up first in February, while edging down late in the month. The lowest level of $96/mt during the given month was
China’s iron ore output down 12.6% in Jan-Feb 2025 Read More »
Iron ore prices fell on Monday as a series of Chinese real estate data exacerbated concerns about the demand outlook, as well as the looming trade war, which threatens to slow economic growth. Iron ore futures for May delivery on the Dalian Commodity Exchange fell 1.15% to 778.5 yuan per ton ($107.55) at the close
Iron ore futures fall 2% as Chinese real estate data weighs Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $380/ tonne, $8 up compared to last week’s prices. and iron ore prices $104/ tonne, $4 up compared to last week’s prices. While the prices of billets ranged between 435 – 465 Dollars per tonne, while it was between 435 –
Steel prices in the third week of March 2025 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $372/ tonne, $8 up compared to last week’s prices. and iron ore prices $100/ tonne, $3 down compared to last week’s prices. While the prices of billets ranged between 435 – 465 Dollars per tonne, while it was between 435 –
Steel prices in the second week of March 2025 Read More »
The British-Australian mining concern Rio Tinto is investing $1.8 billion in the development of the Brockman Syncline1 (BS1) project, located near the operating Brockman 4 mine in Western Australia. This is stated in the company’s announcement. The project has now received all the necessary permits from the state and federal governments and was developed in
Rio Tinto invests $1.8 billion to expand iron ore production in Australia Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $364/ tonne, $4 up compared to last week’s prices. and iron ore prices $103/ tonne, $6 down compared to last week’s prices. While the prices of billets ranged between 435 – 465 Dollars per tonne, while it was between 432 –
Steel prices in the first week of March 2025 Read More »
Iron ore futures fell, heading for a monthly loss, pressured by concerns over U.S. tariffs that are fueling trade tensions against Chinese steel exports. Iron ore futures for April delivery on the Singapore Exchange fell 1.45% to $102.85 a tonne, extending their monthly losses to more than 0.6% so far. The U.S. president confirmed in
Iron ore prices set to fall as trade tensions escalate Read More »
Iron ore prices turned steady on Monday, after falling on expectations of shrinking Chinese demand following Vietnam’s imposition of temporary anti-dumping duties on steel imports from Beijing, in addition to the new US administration implementing its protectionist agenda. March iron ore futures on the Singapore Exchange were steady at $108.40 per metric ton at 11:47
Iron ore prices steady on expectations of shrinking Chinese demand Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $360/ tonne, unchanged compared to last week’s prices. and iron ore prices $109/ tonne, $3 up compared to last week’s prices. While the prices of billets ranged between 432 – 460 Dollars per tonne, while it was between 430 – 455
Steel prices in the fourth week of February 2025 Read More »
The world’s biggest mining companies have benefited from China’s surge in demand for iron ore in the past, but they are now being hit by the economic challenges facing China, their biggest customer. Australia’s BHP Group, Rio Tinto, Fortescue and Brazil’s Vale all reported lower profits this week, as prices for the key steelmaking metal
Mining companies’ profits fall as China’s demand for steel slumps Read More »