Arab Steel Summit 2025
Arab Steel Summit 2025

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Al Rumaithi: We cover 60% of the local market’s needs for iron products

Engineer Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, stated that the group achieved good performance in 2024, noting the group’s focus on the local market to increase its sales volume in particular, with the launch of new projects, and the group’s success in outperforming many competitors, and achieving growth in its business. Al Rumaithi …

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Japan asks for exemption from US steel, aluminum tariffs

Japan asked the United States on Wednesday to exempt it from tariffs imposed by President Donald Trump on steel and aluminum exports, a Tokyo government spokesman said. Trump signed an executive order imposing 25 percent tariffs on steel and aluminum imports starting March 12, sparking angry reactions internationally including from Canada, Mexico and the European …

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Iron ore prices rise by about 2% due to disruption of shipping traffic in Australia

Iron ore prices rose during Wednesday’s trading, amid disruption of shipping traffic in Australian ports due to bad weather conditions, and expectations of a recovery in demand in the short term, especially in China. Iron ore futures for March delivery on the Singapore Exchange rose by 1.80% to $107.80 per tonne at 12:50 pm Mecca …

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Trump considers exempting Australia from steel tariffs

US President Donald Trump has agreed to consider exempting Australia from steel and aluminium tariffs in light of the country’s trade surplus with the United States, following a phone call with Prime Minister Anthony Albanese. Trump sharply raised tariffs on steel and aluminium imports on Monday, eliminating exemptions and quotas for major suppliers. His decision …

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EU, Canada denounce Trump’s decision to impose tariffs on steel and aluminum

The European Union and Canada have strongly condemned US President Donald Trump’s decision to impose tariffs on steel and aluminum, in a new phase of the trade war he has launched since taking office. In contrast to these firm responses, Seoul announced its intention to “protect” the interests of local companies, while Britain confirmed that …

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Qatar Steel and Bahrain Steel Sign $1.266 Billion Supply Agreement

The Ministry of Commerce and Industry in Qatar announced the signing of an agreement between Qatar Steel and Bahrain Steel, worth $1.266 billion, covering 5 million metric tons over five years, which will enhance industrial cooperation between the two sides and strengthen the steel industry in the region. The ministry stated in a statement that …

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Trump intends to impose 25% tariffs on steel and aluminum imports

US President Donald Trump said he will impose additional customs duties of 25% on his country’s imports of steel and aluminum from all countries of the world. Trump said in press statements aboard the presidential helicopter yesterday, Sunday, that the new duties will be applied in addition to the existing tariff on metal imports, according …

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Trump: Japan’s Nippon Steel to invest in US Steel instead of acquiring it

US President Donald Trump said that Japanese steel company Nippon Steel will not buy US Steel as planned, and that the Japanese company will instead invest in the symbolically important US company. Trump said at a news conference with Japanese Prime Minister Shigeru Ishiba that Nippon Steel “will do something very exciting with U.S. Steel,” …

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EMSTEEL Expands Regional Collaboration with UAE-Oman Raw Material Logistics Agreement

Emsteel Group has forged strategic partnerships to pioneer streamlined raw material transport and cross-border rail connectivity in the GCC, while fostering economic collaboration between the UAE and Oman. The landmark agreements highlight a shared commitment to efficient, sustainable transportation of raw materials critical to EMSTEEL’s cement production, while also aligning with the UAE’s Operation 300bn …

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Iron and Steel Mines’ profits jump 110% to EGP 155 million in the first half

The financial indicators of Iron and Steel Mines and Quarries Company revealed, for the first half of the current fiscal year, a 110% increase in the company’s profits, on an annual basis. The company explained in a statement to the Egyptian Stock Exchange that it recorded a net profit of EGP 154.91 million during the …

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Iron ore prices rise more than 2% on Australian supply disruption concerns

Iron ore prices rose on Australian supply disruption concerns due to the hurricane season. March iron ore futures on the Singapore Exchange rose 2.16% to $150.95 per tonne at 10:52 a.m. Mecca time. According to a note issued by the Chinese consulting firm Hexun Futures, Australia is currently experiencing a hurricane season, which threatens to …

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Fujian Kebao commissions SMS group to supply state-of-the-art tinplate lines to enter food packaging market

Fujian Kebao Metal Products Co., Ltd., a subsidiary of Fujian Sanbao Group, has awarded SMS contracts for two tinplate continuous annealing lines (TIN CALs). This marks a significant step in Sanbao Group’s effort to expand into the high-end, food-grade tinplate market, addressing the growing domestic and global demand. The two lines will be installed at …

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Posco reports Q4 net loss due to weak steel demand and lower prices

South Korean steelmaker, Posco Holdings, reported a net loss for the fourth quarter of 2024, missing market expectations. The loss was due to lower steel and energy material prices, which put substantial pressure on the company’s profit margins. Looking at the full year, Posco’s net profit nearly halved to 948.00 billion won, and operating profit …

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Libyan Iron and Steel Company Discusses Modernization of Steel Plants with Danieli

Libyan Iron and Steel Company held a meeting with experts from the Italian company “Danieli”, attended by company officials and a team of technical experts, to discuss plans to develop a slab casting machine and establish a new crucible furnace in Steel Plant 2. The meeting witnessed extensive discussions on the latest technologies used globally …

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