Arab Steel Summit

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SMS Group Launches Coating Solutions for Refurbishment, Repair, and Corrosion Protection

SMS Group has announced the development of customized coating solutions and special coating equipment, integrated into its TecGuard coatings range, to meet the needs of various industrial processes, ensuring optimal performance and longevity, while combining sustainability and cost-effectiveness. “Repairing parts instead of manufacturing new ones significantly reduces material waste and energy consumption. That’s why our […]

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Tata Steel increased steel production in India by 4% y/y in FY2024/2025

Indian steelmaker Tata Steel increased steel production in India by 4.3% y/y – to 21.7 million tons in FY2024/2025 (ended March 31, 2025). The figure is the highest in the company’s history. This is stated in the company’s financial report. Consolidated steel production in the period increased by 3.3% y/y – to 30.9 million tons.

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Iron ore prices rise to 5-week high

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,

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Historic US-China Tariff Mechanism Agreement

In a surprise move that sparked a wave of optimism in global markets, the United States and China announced a historic agreement to significantly and temporarily reduce tariffs on each other’s imports for an initial 90 days, while establishing a sustainable mechanism to continue economic and trade talks. The joint statement, issued after marathon negotiations

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Steel prices in the second week of May 2025

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

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Steel tariff agreement between Washington and London threatens Chinese ownership of British factories

The United States has set certain conditions for implementing its offer to reduce tariffs on steel imports from Britain, raising further doubts about the Chinese company Jingye Group’s ownership of British Steel. According to the framework agreement announced by US President Donald Trump and Prime Minister Keir Starmer, the United States will offer a quota

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United States and Britain Announce a Trade Agreement

US President Donald Trump said his administration has reached an important agreement with the UK, noting that final details of the trade agreement will be announced within a few weeks. For his part, British Prime Minister Keir Starmer said that the trade agreement with the US is great and in the interest of both our

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Iron ore prices fall amid Chinese production curbs

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,

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Turkey’s scrap imports down 11.7% in January-March 2025

In March this year, Turkey’s scrap import volume decreased by 9.4% year on year and went up by 7.4% month on month to 1.66 million metric tons, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $622 million, down 24.4% year on year and up 7.3% month

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India proposes reciprocal tariff exemptions on steel and auto parts to avoid Trump tariffs

India has proposed lifting tariffs on steel, auto parts, and pharmaceuticals, seeking to avoid US tariffs imposed and suspended by President Donald Trump for three months, according to people familiar with the matter, Bloomberg reported. The sources said the proposed tariff exemption would apply to a specified amount of imports, and after that limit, imported

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Steel prices in the first week of May 2025

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

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Turkey’s steel exports rise in March, imports decrease

According to a statement released by the Turkish Steel Producers’ Association (TCUD), in March this year, Turkey’s steel exports increased by 31.3% to 1.48 million mt, while the value of these exports rose by 18.6% to $1 billion, year on year. In the first quarter, the country’s steel exports rose by 18.5% to 3.79 million

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ArcelorMittal earned $805 million in net profit in Q1 2025

In January-March 2025, the global steel company ArcelorMittal increased its net profit by 6.3% compared to the same period in 2024 to $805 million. Compared to the previous quarter, the figure almost doubled. This is stated in the financial report published on the company’s website. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization)

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Oil prices fall for third consecutive session, reaching $61

Oil prices fell marginally during trading on Thursday, May 1, 2025, continuing their losses for the third consecutive session, amid fears of an economic recession threatening global demand. Indications of a potential increase in OPEC+ production and data showing a contracting US economy sparked a sharp sell-off during the previous session, sending West Texas Intermediate

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Yukon and Danieli Collaborate on Infinite Rolling Technology

Using Danieli QSP-DUE technology, Yukon enjoys the greatest production flexibility thanks to three operating modes—infinite rolling, semi-infinite rolling, and coil-to-coil—which guarantee the widest range of steel grades and thicknesses. Danieli’s patented DySen casting machine recently set record casting figures: 145 mm thick sheets were consistently produced, a significant achievement for molds. 165 mm thick sheets

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Baosteel Expects Production Cuts in 2025 Due to Weak Demand

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

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Steel prices in the fourth week of April 2025

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 –

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Indian Steel Minister: Coke Imports to Reach 160 Million Tons by 2030

India’s steel minister said coke imports will accelerate due to limited availability of the key steelmaking ingredient amid increased steel production capacity. Steel Minister Sandeep Pundrik explained that coke imports will reach 160 million tons by 2030, compared to about 58 million tons currently. Coke imports declined 0.7% year-on-year in fiscal 2025 due to lower

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world crude steel production increased by 2.9% in March 2025

News, steel Statistics / wessam ahmed

World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) was 166.1 million tonnes (Mt) in March 2025, a 2.9% increase compared to March 2024. Africa produced 1.9 Mt in March 2025, up 0.6% on March 2024. Asia and Oceania produced 123.6 Mt, up 3.9%. The EU (27) produced 11.7

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India Imposes 12% Tariff on Some Steel Imports

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

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US CRC Exports and Imports Decline in February 2025

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

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Global carbon emissions from energy to reached all-time high in 2024

News, Public Reports / user

Global energy-related carbon emissions increased by 0.8% year-on-year in 2024, reaching an all-time high of 37.8 Gt. This is stated in a recent report by the International Energy Agency (IEA). Last year, CO2 emissions from fuel combustion increased by about 1%, or 357 million tons, while those from industrial processes decreased by 2.3%, or 62

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POSCO Invests in Hyundai Steel’s US Steel Mill Project

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

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China warns countries against any negotiations that would harm its interests regarding US tariffs

China has denounced countries that are practicing “appeasement” with the United States in trade negotiations regarding US tariffs, stressing that it “firmly opposes” any agreement that harms its interests. Washington imposed 145% tariffs on most Chinese goods, even as high as 245% on some products, such as electric cars. In response, China imposed 125% tariffs

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Tariffs Dominate IMF and World Bank Meetings

Hundreds of global financial and economic leaders are flocking to Washington, D.C., this week for the 2025 semi-annual Spring Meetings of the International Monetary Fund and World Bank Group. The atmosphere is tense, with one major concern: how to negotiate relief from the latest US tariffs. While these meetings typically focus on coordinating global policies

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Oil falls as US tariffs resurface demand concerns

Oil prices fell 1.5% as investors refocused on concerns that US tariffs will create economic headwinds that will dampen fuel demand growth. Brent crude futures fell 97 cents, or 1.4%, to $66.99 a barrel at 06:40 GMT, after closing up 3.2% on Thursday. US West Texas Intermediate (WTI) crude fell 96 cents, or 1.5%, to

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SMS group successfully renews whole automation system of hot strip mill PT Krakatau Steel

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

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Trump’s Heavy Tariffs Hit Steel Companies

News, Public Reports / user

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

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Steel prices in the third week of April 2025

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

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China’s crude steel production rises to 10-month high

China’s crude steel production rose in March to a 10-month high, driven by improved profit margins, but analysts expect production to remain flat or decline in April due to uncertainties about demand. Data from the National Bureau of Statistics showed that the world’s largest steel producer produced 92.84 million tons of crude steel last month,

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