Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures fell on Wednesday as demand outlook remained uncertain, despite hopes for additional stimulus measures. Rising iron ore inventories, increased imports from major miners, weak margins at steel mills, and…
Iron ore futures rose on Tuesday, supported by optimism for additional stimulus measures from Beijing, though demand concerns continued to weigh on the market. Chinese Premier Li Qiang expressed confidence in meeting…
Nithia Capital and Evonith Steel have announced the successful recommissioning of Blast Furnace 1 (BF1) at Evonith Steel City in Wardha, near Nagpur, Maharashtra, according to a company press release. BF1 is a 450 m3…
Mill Steel Co., one of the largest distributors of flat-rolled carbon steel, stainless steel, and aluminum in the U.S., has acquired Maryland Metals Processing (MMP), a major stainless and aluminum toll processor based…
Turkey's crude steel production rose by 14pct YoY to 27.9 mln tons in the first nine months of 2024, according to the Turkish Steel Producers' Association (TCUD). In September alone, production grew 6.5pct YoY to 3.1…
Iron ore futures gained on Monday, reversing earlier losses as renewed hopes for economic stimulus offset concerns about weak demand. The Standing Committee of China's National People's Congress (NPC) is meeting from…
Iron ore futures declined on Friday amid a clouded demand outlook, despite encouraging private PMI data and expectations for further economic stimulus. Rising port-side iron ore inventories and seasonal slowdown in…
United States Steel Corporation reported net earnings of USD 119 mln for Q3 2024, a decrease from USD 299 mln in the same quarter last year. U.S. Steel President and CEO David B. Burritt highlighted that the adjusted…
Iron ore futures fell on Thursday as the market remained cautious amid a mixed demand outlook. However, hopes for further stimulus and strong manufacturing data helped limit losses. High iron ore port inventories and…
Turkey's leading steel producer, Erdemir Group, reported a net profit of TRY 11.28 bln (USD 329 mln) for the first nine months of 2024, a turnaround from a TRY 3.83 bln loss in the same period last year. Sales revenue…
Iron ore futures posted slight gains on Wednesday, as optimism over potential stimulus from Beijing helped offset steel demand concerns. Confidence in additional fiscal stimulus grew after a Reuters report spurred price…
Cleveland-Cliffs Inc. has announced that it has obtained the necessary regulatory and program approvals under the Investment Canada Act and the Strategic Innovation Fund, completing the final steps needed for its…
Iron ore futures fell on Tuesday, as rising inventory levels and weak steel demand weighed on market sentiment. Increasing iron ore supplies from major miners, combined with already elevated port inventories, have put…
Iron ore futures rose on Monday as renewed expectations of further stimulus from Beijing helped offset concerns about steel demand. According to the National Bureau of Statistics, China's industrial profits fell sharply…
NLMK Clabecq has launched "InThinity", an advanced process technology for producing quarto heavy plates with high precision, standardly achieving thicknesses of up to 15 mm. According to NLMK Clabecq, InThinity marks a…
Iron ore futures recovered on Friday, supported by improved production figures, though concerns over steel demand persist. Daily crude steel output among China Iron & Steel Association (CISA) member mills for…
Jindal (India) Limited, part of the B.C. Jindal Group and a leading manufacturer of downstream steel products in India, has signed a supply agreement with John Cockerill India Limited for a state-of-the-art colour…
Iron ore futures edged lower on Thursday as concerns over weakening steel demand weighed on the outlook for iron ore. Domestic steel demand is softening, and the upcoming winter season, which typically slows…
Iron ore futures extended losses on Wednesday as weakening fundamentals and lower forecasts for China's economic recovery weighed on market sentiment. Shrinking margins for steel mills may lead to reduced output, with…
Iron ore futures declined on Tuesday as lower steel production and weakening demand dampened market sentiment. In September 2024, China's crude steel output in key steelmaking regions dropped nearly 7pct YoY to 54 mln…
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