The Arab Iron and Steel Union held the second meeting of the Technical Committee on April 21-22, 2024 in Jeddah, Kingdom of Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, the technical data collected from Arab steel companies was studied …
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, unchanged from last week’s prices. and iron ore prices $117/ tonne, $6 up compared to last week’s prices. While the prices of billets ranged between 500– 540 Dollars per tonne, while it was between 500– 540 dollars per tonne …
President Joe Biden pledged that America would retain ownership of United States Steel Corp., and called for increasing tariffs on Chinese steel and aluminum, as part of his effort to win over union workers before the presidential elections scheduled for next November. “US Steel has had a distinguished status as an American company for more …
Biden pledges that America will retain ownership of US Steel Read More »
Rebar prices in the UAE markets moved in a narrow range during the first quarter of 2024, ranging around 2,745 dirhams/ton, compared to an average of 2,538 dirhams/ton during the same period in 2023, an increase of 8%. Prices reached levels of 2,680 dirhams/ton in January of this year, while they ranged around 2,734 dirhams/ton …
UAE: Rebar prices rise by 8% during the first quarter of 2024 Read More »
The price of iron ore is expected to relapse to $100 per ton again by the end of this year, before falling further to reach $85 per ton in 2025, in light of the worsening Chinese housing market crisis, according to estimates by Capital Economics. Declining steel production and combating emissions from highly polluting ore …
Price of iron ore may fall to $100 per ton again at the end of 2024 Read More »
US President Joe Biden called for increasing customs duties on steel imported from China by three times “to protect American producers from the flood of cheap imports coming from Beijing.” This step reflects the intersection of Biden’s international trade policy with his efforts to attract voters in Pennsylvania, which is likely to play a pivotal …
US intends to increase duties 3 times on imports of Chinese steel and aluminum Read More »
In March, China’s finished steel exports amounted to 9.888 million mt, up 37.9% month on month, according to the latest data released by China’s General Administration of Customs (GACC). The finished steel exports in March hit the highest level since July 2016, when they had totaled 10.3 million mt. The strong exports caused market players …
China’s steel exports almost hit 10 million mt in March, highest since July 2016 Read More »
It is expected that the US and British sanctions on Russian metals will consolidate China’s position as a last resort for purchasing basic goods from Russia, while enhancing Shanghai’s role as a center for determining prices for metals that are extremely important to the global economy. The London Metal Exchange’s ban on newly produced Russian-origin …
New metal sanctions strengthen Russia’s dependence on China Read More »
The Libyan Iron and Steel Company signed a memorandum of understanding with the Italian company Danieli to launch a project to implement a direct reduction plant. The Libyan company made the statement through its official Facebook account. The factory will produce two million tons of sponge iron and hot-molded iron annually. Sponge or hot-molded iron …
Ezz Steel Company explained in a statement to the Egyptian Stock Exchange that it achieved losses amounting to 716.530 million pounds during 2023, compared to profits amounting to 6.647 billion pounds during the comparative period of 2022, affected by its losses from currency differences amounting to 30.9 billion pounds. According to the company’s disclosure, taking …
The profits of Al-Jazeera Steel Company, which operates in the iron pipe industry, rose to 1.82 million Omani riyals (15 baisa/share) at the end of the first quarter of 2024, compared to profits of 1.49 million riyals achieved in the same period in 2023, as the following table shows: income list Period First Quarter 2023 …
Al Jazeera Steel’s profits increased to 1.82 million riyals by the end of َQ1of 2024 Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 46,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 46,500, Ashry Steel EGP N/A, Garhy Steel EGP 40,300, Misr Steel EGP 38,000, …
The Arab Iron and Steel Union is scheduled to hold the second meeting of the Union’s Technical Committee on April 21-22, 2024 in Jeddah, Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, it is scheduled to study the technical data …
Arab Iron and Steel Union holds the second technical committee meeting in Saudi Arabia Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, unchanged from last week’s prices. and iron ore prices $111/ tonne, $11 up compared to last week’s prices. While the prices of billets ranged between 500– 540 Dollars per tonne, while it was between 500– 590 dollars per tonne …
The World Steel Organization expected global steel demand to rise by 1.7 percent to 1.793 billion metric tons during the current year, driven by increased demand in India as Chinese demand continues to decline. The report indicated that after two years of decline and severe market fluctuations following the Corona pandemic, there are clear signs …
Report : Global steel demand is expected to grow by 1.7% in 2024 Read More »
The US Justice Department has opened an expanded antitrust investigation into Nippon Steel’s $14.1 billion takeover bid for United States Steel Corp, creating additional legal hurdles to completing the deal, according to people familiar with the matter. On command. Regulators at the ministry are seeking more information for antitrust reasons, according to the people, who …
US opens an expanded investigation into a major acquisition deal in the steel sector Read More »
India’s steel imports were initially estimated at 8.32 million tonnes in FY 2023-24, up 38% year-on-year making the country a net importer of steel, data from the Joint Plants Committee (JPC) of the Ministry of Steel showed. According to the data, India’s steel exports were initially estimated at 7.48 million tonnes during 2023-24, an increase …
India’s steel exports and imports rise in fiscal year 2023-24 Read More »
Iron ore rose – with futures rising above $100 per ton – amid speculation that demand may rise in China, the largest country with steel makers. Futures contracts rose more than 4% to trade near $103 a ton in Singapore, rebounding from a second straight weekly loss during which they reached their lowest level since …
Iron ore rises again above $100 amid expectations of increased demand Read More »
The Board of Directors of the General Authority for Competition approved the completion of the economic concentration process between the Saudi Iron and Steel Company – Hadeed and Al Rajhi Steel Industries Company – Al Rajhi Steel. The authority explained in its account on the X platform. The approval was made after the Council reviewed …
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,800 – EGP 46,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 46,500, Ashry Steel EGP N/A, Garhy Steel EGP 46,300, Misr Steel EGP 38,000, …
In 2023, Egypt witnessed a major boom in its iron and steel exports, rising by 65% year-on-year to reach $2.33 billion, a significant increase compared to $1.41 billion the previous year. According to a report issued by the Export Council for Building Materials, Refractories and Metals, Egyptian suppliers succeeded in penetrating the markets of 87 …
Egypt’s steel exports will increase by 65% in 2023 Read More »
CEO of El Marakby Steel Company, Hassan El Marakby, said that the company aims to increase its export revenues during the current year by approximately 10%, to rise to $110 million if global markets improve in terms of demand and prices. At the very least, the company will seek to maintain last year’s revenues at …
Egypt: El Marakby Steel targets $110 million in exports in 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $384/ tonne, $4 down compared to last week’s prices, and iron ore prices $100/ tonne, $1 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 dollars …
The price of oil stabilized above $90 per barrel after escalating tensions in the Middle East led to a radical repricing of geopolitical risks. Fears are rising of a broader conflict in the region, with Israel’s increasing preparations for an attack by Iran in response to its targeting of the country’s diplomatic compound in Syria. …
Oil prices are above $90 per barrel amid repricing of geopolitical risks Read More »
Suez Steel Company announced the prices of rebar starting from April 05, 2024, to become EGP 40,500 per ton, aa decrease of EGP 6,000. And flat steel, including value-added tax. Statement including VAT Rebar 40,500
Indian steel producer ArcelorMittal Nippon Steel has awarded Danieli Corus an order for a new greenfield pellet plant project, to be implemented at the Visakhapatnam site, in India. This new travelling-grate pellet plant will increase ArcelorMittal Nippon Steel pellet production capacity in Visakhapatnam from 8 to 12 Mtpy. Pelletizing plant #3 is part of the …
Arcelormittal Nippon Steel India Selects Danieli For A New Pelletizing Plant Read More »
Ezz Steel Company announced the prices of rebar starting from April 5, 2024, to become EGP 40,700 per ton, aa decrease of EGP 5,800. And flat steel, EGP 41,700 per ton, a decrease of EGP 8,620 EXW, including value-added tax. Statement including VAT Rebar 40,700 Flat Steel 41,700
Jordan Steel Company announced rebar prices for April 2024, unchanged from last month’s prices. The prices for Grade 60 EXW, between 420 and 432 dinars per tonne, excluding sales tax. However, with sales tax, it is between 500 and about 515 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes …
Jordan Steel announces the prices of rebar for April 2024 Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during the month of February of 19.086 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during December amounted to 19.08 million pounds. She added that the sales value …
Egypt: 19.1 million pounds in iron and steel sales to mines during February 2024 Read More »
Khalifa Economic Zones Abu Dhabi – Kizad Group and Green Metal Industries, based in the UAE, announced the signing of an agreement to develop a new facility for recycling scrap steel and manufacturing special steel products in Kizad. The factory will be developed with investments amounting to $100 million, and will rely on advanced technologies …
Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.
It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.
Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.
General Secretariat
Tel +21323304221 – +21323304239
Fax +21323304254
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
