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Arab Steel Summit

South America

SMS Group and Eletrobras collaborate to provide renewable hydrogen to industries in Brazil

Eletrobras, the foremost electric power company in Latin America, and Paul Wurth, a brand of the SMS group, officially entered into a Memorandum of Understanding (MoU) to collaborate in the renewable hydrogen (H2) production and use in industrial processes in Brazil. A 10 MW plant for green H2 and O2 production will be realized in …

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Vale’s net profit declines to $8.105 billion in 2023

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 …

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Saudi Arabia signs a memorandum of understanding with the Brazilian Vale Company for the iron ore project

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 …

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Brazil increased iron ore exports by 10% and scrap by 117% in 2023

In December 2023, Brazil exported 39.65 million tons of iron ore, the highest figure for the year. Compared to December 2022, the figure increased by 24% y/y, and by 25.5% compared to the previous month. This is reported by Davis Index with reference to data from the Brazilian customs. During December, Brazilian companies exported 64.76 …

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Vale’s iron ore production declines in the third quarter of 2023

Brazilian miner Vale produced 86.23 million metric tons of iron ore and 9.18 million metric tons of pellets during the third quarter of 2023, 3.9% and 11.1% less, respectively, compared to the third quarter of 2022. Compared to the second quarter of 2023, iron ore and iron pellets production increased by 9.5% and 0.7%, respectively. …

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Vale unveils plan to increase production of agglomerated iron ore products

Eduardo Bartolomeu, CEO of the Brazilian miner Vale, said the company plans to achieve a production pace of 100 million mt per year of pellets and briquettes in 2030. The total volume is expected to reach between 36 million mt and 40 million mt in 2023. Bartolomeo mentioned that two of Vale’s eight pellet plants, …

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Investment Fund and Ma’aden intend to acquire 10% stake in a subsidiary of “Vale”

Brazilian mining company Vale announced that it had reached two separate agreements to sell 13 percent of its base metals business for $3.4 billion, with the aim of boosting its copper and nickel production. Under the two agreements, a joint venture between the Saudi Arabian Mining Company (Maaden) and the Public Investment Fund will acquire …

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Brazil extends protectionist tariffs on steel pipe imports from China and Romania

The Brazilian Ministry of Industry, Trade and Services (MDIC) announced the extension of anti-dumping measures imposed on the imports of seamless carbon steel pipes up to 5 inches in diameter from Romania and China. The extension will be valid for five years, with an addition of $74.3/tonne for the Chinese product and $75.11/tonne for the …

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ArcelorMittal Brazilian steel slab exports increased to 1.46 million tonnes from January to June 2023

In June 2023, the Brazilian ArcelorMittal (AMP) steel slab exports increased by 57.8% month-on-month, reaching 278.6 thousand tonnes, and decreased by 9.9% compared to June 2022. From January to June 2023, steel tile exports increased by 6.6% compared to last year, reaching 1.46 million tonnes. From January to June of this year, the United States …

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SMS Group installs a new X-Pact® automation system to a hot rolling mill for ArcelorMittal Company in Brazil

SMS Group has successfully upgraded the existing automation system at ArcelorMittal’s hot-rolling unit in Tubarao, Brazil. The unit, which had been in operation for twenty years had been retrofitted by another supplier where extensive preparation and close collaboration between the parties involved made it possible to upgrade during regular annual shutdowns without the need for …

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A significant drop in Vale’s net profit during the first quarter of 2023

Brazilian iron ore mining company Vale reported net profits of $1.88 billion for the first quarter of 2023, compared to $4.48 billion in the same period in 2022 and $3.74 billion in the fourth quarter of 2022. Compared to the fourth quarter of 2022, net sales revenue decreased by 29.4% to $8.43 billion, production costs …

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Brazilian company Vale agrees to pay $56 million to settle the dam safety issue

Brazilian mining company Vale has agreed to pay $55.9 million to settle a US investigation accusing it of misleading the disclosure of safety factors in its dams, one of which collapsed in Brazil in 2019. In January 2019, a dam in one of the Company’s iron ore mining mines in Brazil collapsed, killing at least …

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Vale produces commercial quantities of iron ore pellets without using coal for the first time

Vale, Brazil’s largest mining company, has produced many iron ore pellets without using coal, a significant step towards reducing carbon emissions. To produce pellets, coal is usually mixed with iron ore before being heated in furnaces. In a Vale pilot project conducted in February 2023 at a plant in Minas Gerais, the company replaced traditional …

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Crude steel production in Brazil declined by 9.1% in February

Brazilian crude steel production reached 2.5 million tonnes in February, down by 9.1 per cent from January, according to Brazil's steel institute IABR. Domestic steel products sales decreased by 7.2 per cent to 1.5 million tonnes, while exports increased by 10 per cent to 1.1 million tonnes, whilst the apparent consumption of steel products in …

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Brazil’s iron ore exports will be $2.9 billion to Arab countries in 2022

The Arab-Brazilian Chamber of Commerce announced that Brazilian exports to the Arab world achieved the highest record revenues since 1989, amounting to $17.74 billion in 2022, while the value of Brazilian imports from Arab countries amounted to $15.03 billion. The value of Brazilian exports to Saudi Arabia increased from $2.07 billion in 2021 to $2.92 …

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U.S. moves to curb steel imports from Mexico, Brazil

U.S. President Donald Trump’s administration took new steps to curb steel imports from Brazil and Mexico on Monday, boosting protections for battered U.S. steelmakers and jobs in the election battleground states of Pennsylvania, Ohio and Michigan. The U.S. Trade Representative’s office said it was reducing Brazil’s remaining 2020 quota for semi-finished steel imports into the …

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