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News

Tosyali Algeria wins the award for the best Algerian exporter in 2021

Tosyali Algeria, a company specialized in the iron and steel industry, won the award for the best Algerian non-hydrocarbon exporter for the year 2021. This award was handed over by the World Trade Center in Algiers, which organized the award ceremony for this nineteenth session in Algiers, on the evening of Sunday, June 26, 2022, …

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CMC Steel operates the energy-saving Q-One power feeder from Danieli

CMC Steel recently replaced the Danieli Automation Q-One digital power feeder in its existing ladle-furnace transformer, starting operation without any delay to production in the commissioning stage. The innovative features of Q-One allow furnaces to operate at variable frequencies; in fact tests have been executed operating the furnace at CMC Steel Arizona down to 20 …

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Egypt’s iron and steel exports rose to $472 million within four months

Egypt’s iron and steel exports rose during the period “January-April” of this year by about 1%, recording 472 million dollars, compared to 468 million dollars during the same period last year. The monthly report issued by the Export Council for Building Materials, Refractories and Metal Industries showed that during the first four months of this …

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China’s semi-finished steel imports fell to the lowest level in 30 months

Imports of semi-finished steel to China dropped significantly in May, posting the lowest monthly level in the last 2.5 years. Moreover, the downtrend of semis imports seen in the first five months this year will continue in the coming three months, taking into account falling local prices in China and the slowdown of consumption due …

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The Federal Reserve Chairman acknowledges the possibility of a recession

US Federal Reserve Chairman Jerome Powell acknowledged to Congress that a rapid rise in interest rates could cause a recession, even if that is not what he wants. During a Senate hearing, Powell answered a question from a senator who had expressed concern about a recession because of the bank’s monetary policy, saying, “It’s certainly …

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World crude steel production decreased by 3.5 % in May

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.5 million tonnes (Mt) in May 2022, a 3.5% decrease compared to May 2021. Asia and Oceania produced 126.8 Mt, down 1.7%. The EU (27) produced 12.9 Mt, down 6.8%. Europe, Other produced 4.1 Mt, down 1.7%. The Middle …

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Iron ore prices fall by more than 7% as Chinese demand is expected to decline

Iron ore prices have fallen more than 7%, giving up all of their gains this year, with expectations that the domestic demand in China may decline. Iron ore consumption has been affected by the decline in the Chinese real estate market as the country faces the spread of the “Covid-19” virus. However, some optimism to …

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