Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures climbed on Monday, driven by expectations of firm near-term demand. Market insiders report that Chinese steel mills have begun pre-holiday restocking ahead of the Chinese New Year holiday starting…
South Korea's steel industry will increase prices for general steel products starting January, driven by a sharp rise in the KRW-USD exchange rate and soaring import raw material costs. This marks a shift from earlier…
Iron ore futures declined on Friday, weighed down by ongoing concerns about demand and market sentiment High port inventories, reduced steel production, and environmental-related curbs on steel production in some…
The Directorate General of Trade Remedies (DGTR), under the Commerce Ministry, has launched a safeguard investigation into the imports of non-alloy and alloy flat steel products, according to an official notification…
Iron ore futures extended their losses on Thursday, weighed down by a bearish demand outlook and declining steel production figures that dampened market sentiment. Crude steel production in China's top ten steelmaking…
ArcelorMittal has increased its HRC prices in Europe, with new offers reported at EUR 630 (USD 659) per ton EXW for February rolling, up from EUR 600 per ton EXW previously. The price hike follows the European…
Iron ore futures fell on Wednesday, pressured by a bearish outlook for the key steelmaking input. Market sentiment was further dampened by concerns over rising port-side iron ore inventories and weakening steel demand…
Chinese steelmaker XinFeng plans to invest USD 1.65 bln in an integrated industrial complex within the Sokhna Industrial Zone under the Suez Canal Economic Zone (SCZONE), according to the Ministry of Trade and…
Iran produced 20.4 mln tons of semi-finished steel from March 20 to November 21, 2024, according to the Iranian Steel Producers Association. This included 13.28 mln tons of billet and bloom and 8.058 mln tons of slab…
Iron ore futures edged up on Tuesday as cautious market sentiment persisted, with weak fundamentals outweighing stimulus hopes. Concerns over higher port-side iron ore inventories and slowing steel demand continued to…
Turkey's CRC imports totaled approximately 630,000 tons in the first ten months of 2024, marking a 19pct decline compared to the same period in 2023, according to data from the Turkish Statistical Institute (TUIK)…
Iron ore futures rose on Monday, buoyed by expectations of policy support from Beijing, even as fundamentals in the steel sector continued to weaken. A senior official from China's central bank announced plans to boost…
Colakoglu Metalurji A.S. has placed an order with ABB for an ArcSave electromagnetic stirrer (EMS) to be installed on one of the world's largest electric arc furnaces (EAF). This project marks a significant step forward…
Iron ore futures fell on Friday due to demand uncertainties and the lack of detailed Chinese stimulus measures, which weighed heavily on market sentiment. Adding to the bearish outlook, port-side iron ore inventories…
ICRA projects that domestic steel industry capacity utilization will dip below 80pct in FY2025 for the first time in four years, as cheap imports continue to take market share. The credit rating agency warned that the…
Iron ore futures recovered on Thursday, as improved steel demand and stimulus hopes supported the key steelmaking raw material. Steel demand in China remained firm, specially from the manufacturing sector, reflected by…
The Indian government is considering imposing a 25pct safeguard duty on flat steel imports, Union Steel Minister H.D. Kumaraswamy announced. According to reports, the proposal is under review, with a final decision to…
India's Competition Commission (CCI) has approved the acquisition of Thyssenkrupp Electrical Steel India Pvt Ltd by JSquare Electrical Steel Nashik Pvt Ltd, a subsidiary of JSW JFE Electrical Steel Pvt Ltd (J2ES). J2ES…
UAE-based steel producer Al Ghurair Iron & Steel (AGIS) has successfully launched the SAP S/4HANA Cloud ERP system, streamlining all critical business processes, the company announced via social media. AGIS is the first…
Iron ore futures fell on Wednesday as a clouded demand outlook dampened market sentiment. Earlier this week, the Politburo signaled a shift in policy, pledging a moderately loose monetary stance and more proactive…
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