South Korean steelmaker POSCO plans to complete the commercialization of its HyREX , and by 2050, switch its steel mills in Pohang and Gwangyang to steel production based entirely on hydrogen reduction technology. The company will use green hydrogen using HyREX technology to produce direct reduced iron (DRI) for electric arc furnaces. The steelmaker is …
POSCO plans to produce all steel using hydrogen by 2050 Read More »
In September 2023, Ukrainian pipe companies produced 36.9 thousand tons of pipes, a decrease of 10.2% compared to September 2022. A decrease of 11.7% compared to August. In the period from January to September 2023, Ukraine’s pipe production increased by 5.1% compared to the same period in 2022, reaching 376.1 thousand tons. In 2022, Ukraine …
Ukraine’s pipes production increased by 5.1% during January-September 2023 Read More »
The US-EU trade meeting scheduled for next month is expected to be postponed until early next year, as the two allies remain deadlocked in talks over steel and critical metals, according to a report. According to Bloomberg, citing sources familiar with the matter, the Trade and Technology Council was scheduled to meet last month, but …
According to the prices announced in the global steel markets, scrap prices amounted to $390/ tonne, $7 up compared to last week’s prices, and iron ore prices $135/ tonne, $5 up compared to last week’s prices, while the prices of billets ranged between 495 – 520 Dollars per tonne, while it was between 490 – …
Steel prices in the fourth week of November 2023 Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 150.0 million tonnes (Mt) in October 2023, a 0.6% increase compared to October 2022. Africa produced 1.9 Mt in October 2023, up 3.5% on October 2022. Asia and Oceania produced 108.8 Mt, up 0.8%. The EU (27) produced 10.6 …
World crude steel production increased by 0.6% in October 2023 Read More »
The Canadian International Trade Tribunal (CITT) has announced that it has initiated an expiry review against the antidumping duties on cold rolled steel (CRC ) from China, South Korea and Vietnam. The current antidumping duties are at 91.9% for China, 53.0 percent for South Korea and 99.2% for Vietnam, while the subsidy rates are at …
Canada initiates AD expiry review on (CRC) from three countries Read More »
The price of iron ore continued to rise during trading on Tuesday, reaching its highest levels since February, with growing optimism about demand in light of China’s efforts to stimulate its economy. China has identified a list of 50 real estate development companies eligible for financing as the country attempts to reduce the real estate …
Iron ore price rose to its highest levels in 9 months Read More »
In October, China’s total production of hot-rolled steel – HRC and cold-rolled steel – CRC in China reached 17.145 million mt and 3.59 million mt , increasing by 14.1% and 9.4% year on year, while decreasing by 3.52% and 2.31 million mt, % on a consecutive monthly basis. HRC prices in the Chinese domestic market …
China’s hot-rolled steel production rose 13.2% in January-October 2023 Read More »
The decline in domestic demand and the decline in the prices of domestic steel products compared to other exporting countries led local producers to resort to exporting abroad, which helped increase the volume of China’s exports of steel products during the period January-October 2023. In the period from January to October 2023, China exported about …
China’s steel exports increased by 34.8% in January-October 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $383/ tonne, $5 up compared to last week’s prices, and iron ore prices $130/ tonne, $1 up compared to last week’s prices, while the prices of billets ranged between 490 – 520 Dollars per tonne, while it was between 475 – …
In September this year, Turkey’s wire rod exports amounted to 54,415 mt, down by 26.9% compared to August and by 65.2% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $31.87 million, dropping by 28.6% compared to the previous month and …
Turkey’s wire rod exports down 58.5% in January-September Read More »
According to final data from the US Department of Commerce, total US imports of wire rod reached 49,233 tons in September 2023, down 44.9% from August and 9.0% from September 2022 levels. By value, total wire rod imports reached $47.8 million in September 2023, compared to $85.7 million in August and $61.6 million in September …
Iron ore prices rose on Wednesday’s trading, as a result of improved prospects for Chinese demand for steel following circulating news about Beijing’s intention to launch a new spending package to support the faltering real estate sector. Bloomberg published a report stating that the Chinese government plans to provide low-cost financing worth at least one …
Iron ore prices exceed $130 per ton for the first time since March Read More »
The European Union is studying the possibility of extending the temporary truce with the United States regarding steel and aluminum trade, a possibility that will help circumvent the stalled negotiations and avoid the re-imposition of customs tariffs on transatlantic exports worth $10 billion. Since the imposition of tariffs will resume automatically at the end of …
Europe is considering extending the steel trade truce with the United States Read More »
In a move that reflects the harsh reality of the challenges of the steel industry at the present time, Tata Steel, a major player in the steel sector, announced on Monday, November 13, that the Tata Steel subsidiary in the Netherlands intends to reduce approximately 800 jobs at its factory in the city of “IJmuiden”, …
In October 2023, steel companies of Ukraine reduced their exports of semi-finished products by 23.6% compared to September 2023 and increased by 59.6% compared to October 2022, reaching 110.12 thousand tons. The value of exports for this month decreased by 19.9% on a monthly basis and increased by 34.5% on an annual basis, reaching $52.9 …
Oil price forecasts in 2024 are subject to periodic updates by the relevant international and regional institutions depending on market conditions and estimates of supply and demand, which are witnessing a state of fluctuations. A recent report, seen by the Energy Research Unit, expected an increase in the average price of Brent crude during the …
Report: Average oil prices in 2024 may reach $86 Read More »
Iron ore extended its gains, approaching $130 per ton CFR, amid expectations of some recovery in steel production and Goldman Sachs’ forecast that the raw materials market will face shortages this year. Australian iron ore 62% Fe prices rose by $1.5/ton to reach $129.25/ton CFR after rising by 22.5 yuan/ton ($3.1/ton) on the DCE exchange …
Report: Iron ore is approaching $130 per ton, with declining demand Read More »
In September 2023, Turkey’s consumption of steel products increased by 30.3% compared to September 2022, reaching 2.8 million tons, according to data from the Turkish Steel Producers Association (TDCU). Steel production in Turkey in September reached 2.89 million tons, an increase of 8.4% compared to September 2022. Steel product exports for the month decreased by …
Türkiye’s consumption of steel products increased by 18.5% in January-September 2023 Read More »
In October this year, China attracted 33 percent of new shipbuilding (shipbuilding) orders (820,000 CGT) in the global market, while South Korea claimed a 62 percent share (1.54 million CGT), according to the data issued by Clarksons, the world’s leading provider of integrated shipping services. In October, 2.49 million CGT of new shipbuilding orders were …
China claims 33% of new shipbuilding orders in global market in October 2023 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 +21323304221 Fax +21323304254
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
