Latest in Tag: Iron Highlight
Latest in Tag: Iron
Duties on iron billets, steel rebar would be reduced to 10%, 17%, respectively, starting from April
Egyptian government vows to protect rights of sacked Iron and Steel workers, cites massive losses at company
Rolling mills in Egypt are currently suffering from low availability of iron billets production locally. The hiccup in supply has forced factory closures due to their commitment to workers, as well as their bank obligations that require them to fulfil a guarantee of factory operations. Tarek El-Gioushy, member of the Chamber of Metallurgical Industries at …
The approval was given at the board’s meeting, on Sunday, with the new company set up for the purpose of extracting and trading iron ore and other minerals.
The decision was made during an extraordinary general assembly on Monday. In a statement, the company said the new joint stock company will be owned by the same current shareholders.
European Steel Union calls for anti-dumping duties to be imposed on Turkish steel from 30 March
The report said 67% of these exports went to Saudi Arabia, Libya, Spain, the US, the Netherlands, Kenya, Italy, and Uganda at value of $113.077m.
Rebuilding of Iraq, Lebanon, Syria, Yemen, and Libya represent a lifeline for industry
Since the beginning of this year, Egypt’s iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued a resolution in April, imposing a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days ending in October.
EGX expected to continue fluctuating in coming sessions
Production values for chemicals and its products reached EGP 28.8bn for Q3 of 2018, compared to EGP 14.8bn for Q3 of 2017, an increase of 94.4%, due to increases in detergent and fertiliser production as well as an increase in market demand.
Egypt’s exports of iron and steel rose by 13% in the period from January to the end of June 2018
Industry Ministry imposes anti-dumping duties on imports from 3 countries for 5 years
The Egyptian Iron and Steel Company, one of the public sector companies, managed to reduce its losses in the first quarter (Q1) of the current fiscal year compared to the same period last year. According to the company’s statement to Daily News Egypt, it had a loss of EGP 191m, compared to EGP 233.6m in …
14.2% growth in cargos traded in Damietta port during 2016
The plant’s output will reach 500,000 tonnes per year
The project will be established on Suez Canal territory, north-west Gulf of Suez with a production capacity of 1.2m tonnes
The production value in the public business sector as a whole in 2014/2015 reached EGP 95bn, compared to EGP 114.8bn in 2013/2014, with a decrease of 17.3%.
The company’s losses decline by 16% YoY
Egyptian imports from these countries amounted to approximately $810m during 2013, compared to $1bn during 2012. The most important receiving countries for Egyptian exports are Libya, Sudan, Kenya and South Africa, according to El-Leithi.
Salman, Araby discuss iron and steel development via imported raw materials and cooperation to increase production
Russia is preparing technology with the World Bank to implement the ‘one-stop shop’ investment window system
Consultations with GAFI Board on final draft of amendments to investment guarantees and incentives to take place within a week
Production process stopped, workers to continue striking until demands are met, says labour leader
Risen value of several commodities influenced production value, government statistics agency indicates
Abdel Nour met with the companies to discuss repercussions of increase in energy prices on iron
The government had recently increased natural gas prices by $3 for the iron and steel industry, bringing the total price to $7 per million BTUs.
Abdel Nour said that the investment climate has improved significantly over the past three months.
Demonstration expected Wednesday
The workers call on the government to resign after failing to resolve the crisis