Iron ore prices fell in Monday trading below the level of $100 per ton to record their lowest levels since May 2023, with the continued impact of the real estate sector crisis in China on demand, in addition to the abundance of supply enhancing pressure on prices. In Australia, which is the largest iron ore […]
Iron ore prices fell to their lowest levels in 10 months Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $390 / tonne, $6 up compared to last week’s prices, and iron ore prices $99/ tonne, $8 down compared to last week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 590
Steel prices in the last week of March 2024 Read More »
Iron ore achieved its largest weekly rise in 6 months amid gradually increasing optimism about the chances of economic recovery in China, which is the largest crude consuming country. Chinese Premier Li Qiang downplayed the seriousness of the crises afflicting his country’s economy in a speech he delivered before the China Development Forum yesterday, Sunday,
Iron ore price records best weekly gains since September thanks to China’s outlook Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, $4 up compared to last week’s prices, and iron ore prices $109/ tonne, $8 up compared to last week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 590 dollars
Steel prices in the fourth week of March 2024 Read More »
Iron ore prices turned higher during Monday’s trading following the release of mixed data on economic activity in China at a time when the world’s second largest economy is suffering from a real estate crisis affecting demand for steel. The prices of iron ore futures contracts traded in Singapore for April delivery rose by 1.5%
Iron ore rebounds to $100 per ton despite increasing Chinese stocks Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $380/ tonne, $4 up compared to last week’s prices, and iron ore prices $101/ tonne, $17 down compared to lastt week’s prices. While the prices of billets ranged between 505– 590 Dollars per tonne, while it was between 505– 570 dollars
Steel prices in the third week of March 2024 Read More »
Iron ore futures fell below the level of $100 per ton for the first time in 7 months, as investors expect that the years-long real estate crisis in China will continue throughout 2024, which may hinder the rise in demand for steel. The price of the metal used in the steel industry has declined by
Iron ore price falls below $100 amid China’s real estate crisis Read More »
Iron ore continued its decline, closing at a seven-month low and approaching $100 per ton, a level that is halting some high-cost production. The raw material for steelmaking fell from more than $140 per ton early this year to less than $106 due to concerns about the outlook for demand in China. Steel consumption did
Iron ore falls to its lowest level in seven months Read More »
The Governor of the state of Tindouf, Mr. Dahou Mustafa, and the President and Director General of the SONARAM complex, Mr. Mohamed Sakher Harami, in the state of Tindouf, supervised the signing ceremonies of work contracts for young people from the state of Tindouf, in the presence of the presidents and general directors of the
The price of iron ore fell by about 5%, heading to $110 per ton, as disappointing demand from China left the market with a glut of inventory. The price of crude oil used to make steel fell by nearly a quarter in early January from its highest levels, amid continuing pressure on real estate and
Iron ore prices continue to fall as inventories continue to rise in China Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $376/ tonne, $14 down compared to last week’s prices, and iron ore prices $118/ tonne, $6 up compared to lastt week’s prices. While the prices of billets ranged between 505– 570 Dollars per tonne, while it was between 505– 585 dollars
Steel prices in the second week of March 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $390/ tonne, $21 down compared to last week’s prices, and iron ore prices $115/ tonne, $6 down compared to lastt week’s prices. While the prices of billets ranged between 505– 585 Dollars per tonne, while it was between 515– 600 dollars
Steel prices in the first week of March 2024 Read More »
Iron ore prices fell during Monday’s trading, as investors’ hopes for a recovery in Chinese steel demand after the end of the Lunar New Year holiday faded. Iron ore futures prices traded in Singapore fell by 3.5% to $115.90 per ton after touching their lowest level since October 27 earlier in the session, with the
Iron ore prices fall to their lowest levels in 4 months with weak demand in China Read More »
Brazilian mining company Vale recorded net profits of $8.105 billion for 2023, compared to $18.870 billion for 2022. On the same comparative basis, net sales revenue decreased 4.7% to $41.78 billion, and gross profit decreased 10.7% to $17.69 billion. Operating profit decreased by 17.5%, to $14.21 billion. The company said that the decline in performance
Vale’s net profit declines to $8.105 billion in 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $411/ tonne, $6 down compared to last week’s prices, and iron ore prices $121/ tonne, $9 down compared to lastt week’s prices. While the prices of billets ranged between 515– 600 Dollars per tonne, while it was between 510 – 600
Steel prices in the fourth week of February 2024 Read More »
Australian mining company BHP Billiton has announced its financial results for the first half ended December 31 of the financial year 2023-24. Accordingly, BHP Billiton has posted a net profit of US$1.7 billion for the first half of the financial year 2023-24, down from a net profit of US$7.12 billion in the corresponding period of
BHP Billiton posts a net profit of $1.7 billion for H1 FY 2023-24 Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries approved the estimated budget for the next fiscal year 2024-2025. The company said in a statement to the Egyptian Stock Exchange. It aims to achieve a net profit after taxes of about 447.9 million pounds during the next fiscal year. It
Egypt: Iron and Steel Mines targets 447.9 million pounds in profits during 2024-2025 Read More »
Shares of global mining companies listed on the London Stock Exchange fell during trading on Tuesday, amid concerns about weak growth in China and with iron ore prices falling to their lowest levels in three months. Standard iron ore futures in Singapore fell by 5.15% to $120.85 per ton, at 06:48 pm Mecca time, the
Mining stocks decline in London and iron ore declines amid concerns about China Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $417/ tonne, $2 down compared to last week’s prices, and iron ore prices $130/ tonne, unchanged from last week’s prices. While the prices of billets ranged between 510 – 600 Dollars per tonne, while it was between 515 – 600 dollars
Steel prices in the third week of February 2024 Read More »
The American Iron and Steel Institute issued a response Friday after the Environmental Protection Agency (EPA) issued a rule imposing emission limits on the processing of taconite (iron ore). In a press release, the AISI said the rule that mandates the installation of “unproven control technologies” to achieve these limits “flawed.” Kevin Dempsey, president and
AISI slams new iron ore emission limits Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $419/ tonne, $3 down compared to last week’s prices, and iron ore prices $130/ tonne, $2 up compared to last week’s prices, while the prices of billets ranged between 515 – 600 Dollars per tonne, while it was between 515 –
Steel prices in the second week of February 2024 Read More »
Within the framework of the objectives of the Arab Iron and Steel Union to focus on human development and raising skills in the field of iron and steel, the Union trained a group of engineers and technicians at the Bahrain Steel Company through the training program “Iron Ore Pelletization Technology” . The program addresses the
AISU trained a group from Bahrain Steel in the field of iron ore pelletizing Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $422/ tonne, $3 up compared to last week’s prices, and iron ore prices $128/ tonne, $5 down compared to last week’s prices, while the prices of billets ranged between 515 – 605 Dollars per tonne, while it was between 510 –
Steel prices in the first week of February 2024 Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in last December amounting to 39.3 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines in December amounted to 39.28 million pounds. The Company added that the sales value
39.3 million pounds in iron and steel sales to mines and quarries in December Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $419/ tonne, $4 down compared to last week’s prices, and iron ore prices $136/ tonne, $5 up compared to last week’s prices, while the prices of billets ranged between 510 – 605 Dollars per tonne, while it was between 513 –
Steel prices in the fourth week of January 2024 Read More »
Australian mining giant BHP said that turmoil in the Red Sea is forcing some shipping companies to take alternative routes, such as the Cape of Good Hope, around Africa, while other companies still prefer the Red Sea with additional controls. One of the largest mining companies in the world added in a statement: “The Red
Australian BHP redirects some of its shipments to the Cape of Good Hope Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $423/ tonne, $1 down compared to last week’s prices, and iron ore prices $131/ tonne, $1 down compared to last week’s prices, while the prices of billets ranged between 513 – 595 Dollars per tonne, while it was between 510 –
Steel prices in the third week of January 2024 Read More »
Emirates Steel Arkan announced that it has signed a 5-year contract with Bahrain Steel to supply iron ore pellets. The contract, worth about $2 billion (about 7.3 billion dirhams), was signed at the fourth meeting of the Integrated Industrial Partnership Initiative for Sustainable Economic Development, which was recently held in Bahrain. The new agreement will
Emirates Steel Arkan signs a contract worth $2 billion with Bahrain Steel Read More »
The Royal Commission for Jubail signed a memorandum of understanding with the Brazilian mining company Vale to develop an iron ore briquette project in the Kingdom. The memorandum of understanding was signed on the sidelines of the Future Metals Forum, which lasted for two days, during which the Brazilian company presented its ambitious plans in
The National Company for Industry and Mines (SNIM) announced that the company’s sales exceeded 14 million tons, for the first time in its history. Heralding the entry of a new turn in production. The company indicated that this achievement is unprecedented. It would not have been possible without the effectiveness of the company’s strategic program