Steel plate market in Saudi Arabia

Aramco and POSCO explores steel plate mill JV in Saudi Arabia

Saudi Aramco and South Korea’s POSCO signed a deal to evaluate the potential for an integrated steel plate mill. The cooperation between the two companies implies that the steel plate mill will target the oil and gas industry. POSCO will conduct the feasibility study to determine commercial viability for the plant. Saudi Arabia has been
Hydrogen in steel

Hydrogen is making inroads in the steel industry

Under the Biden presidency, the US is expected to play a critical role in revolutionising the global climate agenda. President-elect Joe Biden has appointed a former senator and secretary of state John Kerry as the first-ever US climate envoy. This shows that the new administration is highly committed to tackling climate issues. Mr Biden pledged
Global building and construction and belt and road initiative

The global construction market to recover in 2021 but BRI under the spotlight

The global building and construction spending slumped in 2020, expected to reach $4.7 trillion in real terms. COVID-19 remained the main culprit for dragging the market downward. The global building and construction market is expected to recover in 2021.  China is the largest construction market in the world, followed by the US. China started Belt
Halal food market in Europe is expanding unevenly

Halal food market in Europe is expanding unevenly

The halal food industry in Europe has been expanding, partly owing to the growing Muslim population. The high Muslim migration to Europe from war-torn Middle Eastern countries has also fuelled demand for halal food in some key European markets such as Germany. In some EU countries, the market is still suppressed despite high Mulsim population
Carbon emission goals by country

Net Zero Carbon Goals Tracker

Carbon Neutrality or Net Zero Emission Targets Carbon neutrality or net-zero means to have a balance between carbon emission and carbon absorption from the atmosphere in carbon sinks. In simple words, carbon sink is any system that absorbs more carbon than it emits. Currently, there are no artificial carbon sinks which can remove carbon from the atmosphere on a large
Afghanistan Cement Market

Afghanistan Cement Market

Afghanistan is a landlocked country, and almost all of its domestic cement demand is imported from its neighbouring countries. Most of the cement imports come from Pakistan followed by Iran, and together they both account for 99% of the total Afghanistan cement imports. Afghanistan is dependent on imported cement Based on the trade statistics, Commodity
China Five Year Plan and the steel industry

China Five Year Plan will support steel scrap consumption

The fifth plenum session of the 19th Communist Party of China (CPC) central committee discusses the 14th five-year plan 2021-2025. During the meeting, the long term goals going up to 2035, were also discussed. The plan is centred on technological development and environmental goals and will be passed by the National People’s Congress in early
US Brazil steel quota

US slashes Q4 quota for semi-finished steel (slab and billets)

When Mr Trump imposed 25% duties on steel products in 2018, Brazil swiftly secured a deal, better than any other country. Since then, Brazilian slab producers commanded better margins by piggybacking on Section 232 quota; whereas others, chiefly the CIS producers, suffered. The Trump administration tinkered with the market in a way to allow Brazilian
Korean shipbuilding

The shipbuilding industry in China falters

The new vessel orders in China sank in the first seven months of this year, highlighting the underlying weak demand chiefly caused by the epidemic. The national shipbuilders secured new vessel orders proportionate to around 14 million deadweight tonnes (dwt) during January-July this year, fell by 4.8% year-year basis, according to China Association of the
Steel slab prices are on the rise

Steel slab prices are on the rise

The impact of the coronavirus outbreak is still high in various parts of the world. In Europe, the steel market is slowly returning to normal in key countries, such as Germany, France and Italy, but it is still far from pre-pandemic levels. Moreover, Eurofer has requested a 75% cut to the import quotas to help
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