Vale SA plans to offer more lower-quality iron ore to meet the needs of a struggling steel industry, as it seeks to expand beyond its traditional role as a supplier of high-quality materials to the steel industry. New CEO Gustavo Pimenta laid out the strategy at an investor event in New York, saying the Rio …
Industry struggles push Vale to enter cheaper iron ore markets Read More »
Chile’s largest steel mill, Wachipato, is closing after 74 years in operation, leaving thousands of people unemployed. Life in Talcahuano, a town of 160,000 people in the Biobio region 500 kilometres (310 miles) from the capital Santiago, revolved around the landmark steel mill. The closure of the plant affects 2,700 direct jobs, including those held …
Speaking during the FII Priority Summit, Eduardo Bartolomeo, CEO of the Brazilian miner Vale, informed that the company’s current iron ore exports to the Middle East, 27 million mt per year, could be increased to 70 million mt per year, without mentioning deadlines. According to Bartolomeo, the increase could be based on the development of …
Vale plans to increase iron ore exports to Middle East Read More »
Latin American countries are following in the footsteps of the United States and Europe by imposing heavy tariffs on Chinese steel imports, which represents a real test of the relationship between the two sides. A Bloomberg report stated that, due to the global shift towards protectionist measures and the influx of Chinese imports that threaten …
Latin America doubles tariffs on steel imports from China Read More »
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 …
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 …
Vale’s net profit declines to $8.105 billion in 2023 Read More »
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 …
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 …
Brazil increased iron ore exports by 10% and scrap by 117% in 2023 Read More »
Edorao Bartolomeo, CEO of mining company Vale, said that China may be the largest buyer of iron ore in the world. But that does not mean that Beijing can succeed in setting its prices. Bartolomeo explained in an interview ahead of the company’s annual investor day that Vale is confident that the balance between supply …
Vale CEO: China cannot control the price of iron ore Read More »
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. …
Vale’s iron ore production declines in the third quarter of 2023 Read More »
In July this year, Brazilian miner Vale’s iron ore export volume totaled 22.65 million mt, rising by 2.2 percent compared to June and by 1.8 percent compared to July 2022, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the first seven months of the current year, …
Vale’s iron ore exports up 1.1 percent in January-July Read More »
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, …
Vale unveils plan to increase production of agglomerated iron ore products Read More »
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 …
Investment Fund and Ma’aden intend to acquire 10% stake in a subsidiary of “Vale” Read More »
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 …
Brazil extends protectionist tariffs on steel pipe imports from China and Romania Read More »
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 …
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 …
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 …
A significant drop in Vale’s net profit during the first quarter of 2023 Read More »
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 …
Brazilian company Vale agrees to pay $56 million to settle the dam safety issue Read More »
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 …
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 …
Crude steel production in Brazil declined by 9.1% in February Read More »
The Brazilian mining company Vale recorded a net profit of $3.72 billion for the fourth quarter of 2022, compared to $4.46 billion for the previous quarter and $5.35 billion for the fourth quarter of 2021. Net sales revenue in the fourth quarter of 2022 amounted to about $11.94 billion, compared to $9.93 billion in the …
Vale’s net profit declined in the fourth quarter of 2022 Read More »
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 …
Brazil’s iron ore exports will be $2.9 billion to Arab countries in 2022 Read More »
Trade authorities in Mexico have extended until June 2026 the antidumping duty of 29.3% on the import of hot rolled coil (HRC ) manufactured in Russia or Russian products imported from any other country. The duty covers products under HTS codes 7208.10.02, 7208.25.99, 7208.37.01 and 7225.30.03 of the General Import and Export Tax Law (TIGIE), …
Mexico extends AD duties on Russian HRC until 2026 Read More »
In September this year, Brazilian miner Vale’s iron ore export volume totaled 22.52 million mt, declining by 6.1% compared to August and by 14.6% compared to September 2021, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the first nine months of the current year, Vale’s iron …
Vale’s iron ore exports down 17 % in January-September 2022 Read More »
In June this year, Brazilian miner Vale’s iron ore export volume totaled 19.89 million mt, rising by 7.7 % compared to May and decreasing by 16.4 % compared to June 2021, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the first half of the current year, …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021. Africa produced 1.2 Mt in July 2022, down 5.4% on July 2021. Asia and Oceania produced 110.1 Mt, down 5.2%. The EU (27) produced 11.7 …
World crude steel production declined by 6.5% in July 2022 Read More »
Brazilian iron ore miner Vale announced an agreement with local gas suppliers Eneva and Gasmar, for the supply of natural gas to its Sao Luis pellet plant, located in the northeastern state of Maranhao. The move will consolidate the use of natural gas in all Vale’s pellet plants until 2024. The company also operates pellet …
Vale signs deal to power pellet plants with natural gas until 2024 Read More »
Brazilian miner and iron ore producer Vale has announced its operational results for the first quarter of this year. In the given quarter, the company produced 63.9 million mt of iron ore, down by six percent year on year and decreasing by 22.5 percent compared to the previous quarter, while its pellet production totaled 6.9 …
Vale’s iron ore output falls in Q1, coal output rises Read More »
Brazilian miner and iron ore producer Vale saw its net profit in Q4 2021 spike over 634%, year-over-year, from $739 million in Q4 2020 to $5.4 billion.Net revenues in Q4 2021 reached $13.1 billion, 6.2% up, year-over-year. Adjusted EBITDA in Q4 2021 was $6.9 billion, 23.5% down, year-over-year.Vale said iron ore output capacity by late …
Vale’s net profit spikes to $5.4 billion in Q4 2021 Read More »
The Biden administration reached a deal to partly lift tariffs that the Trump administration had imposed on the Japanese steel. The agreement, announced by the US trade officials on February 6, would preserve some protections for US metal makers by turning the current 25 per cent tariff on Japanese steel into a so-called tariff-rate quota, …
U.S. and Japan strike a deal to roll back us steel tariffs Read More »
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 +21320343324 – +21320343357
Fax +21320343194
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
