Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures extended losses on Wednesday, as the lack of additional stimulus measures dampened market sentiment. The sharp rally seen before the holidays cooled off after a press briefing by the National…
Cleveland-Cliffs Inc. has announced that it received a "no-action letter" from the Canadian Competition Bureau, indicating that the Commissioner of Competition does not plan to challenge its pending acquisition of…
Iron ore futures reversed earlier gains and posted a loss in post-holiday trading on Tuesday, as markets were disappointed by a recent statement from the National Development and Reform Commission (NDRC), which dampened…
Sweden's SSAB has appointed AFRY as the main engineering partner for its fossil-free steel mini-mill project in Lulea. AFRY will provide basic and detailed engineering services from 2024 to 2026 as part of SSAB's…
The Ministry of Trade, Industry, and Energy has launched an anti-dumping investigation into Chinese-origin HRC plates following a complaint from Hyundai Steel on July 31. Hyundai Steel, a leading South Korean steel…
Indonesian steelmaker PT Krakatau Steel's efforts to restructure USD 1.5 bln in loans are highlighting the industry's challenges, according to Bloomberg. The state-owned company is grappling with intense competition…
Vietnam's leading steel producer, Hoa Phat, has raised domestic prices for HRC scheduled for December delivery. The company is now offering HRC in SAE 1006 and SS400 grades to domestic buyers at around USD 548-550 per…
India's Directorate General of Trade Remedies (DGTR) has launched an anti-dumping investigation into imports of cold-rolled non-oriented electrical steel (CRNGO) from China, according to an official notification. The…
The UK Government has accepted the Trade Remedies Authority's (TRA) recommendation to modify the tariff rate quota (TRQ) on imports of category 1 (HRC). These changes will take effect from October 1, 2024, according to…
Spain's Hydnum Steel, the first green steel plant on the Iberian Peninsula, has signed a Memorandum of Understanding with Knauf Interfer, a leading European steel processing and distribution company. This partnership…
Iron ore and other raw materials, along with steel futures, posted sharp gains during pre-holiday trading on Monday, driven by Beijing's latest stimulus measures that have improved market sentiment and the outlook for…
Turkey-based Ussuri Capital Partners (UPC), led by Ukrainian CEO and co-founder Roman Kurashev, has announced the launch of its first financing round, aiming to raise EUR 60 mln (USD 67 mln) for the initial phase of a…
Iron ore futures extended their rally for a fourth consecutive session on Friday, driven by Beijing's recent stimulus measures. This week, China's central bank announced a reduction in the reserve requirement ratio…
Wabash, North America's largest producer of semi-trailers and liquid transportation systems, has announced a 10-year strategic agreement with Steel Dynamics, Inc., a leading steel producer and metal recycler. This…
Iron ore futures extended gains for a third consecutive session on Thursday, driven by China's pledge for additional stimulus, which restored confidence just as the effects of the latest monetary easing measures began…
Iron ore futures extended gains on Wednesday as Beijing's recent stimulus measures fueled optimism for steel demand. Following Tuesday's broad policy easing, the Chinese central bank cut medium-term lending rates to…
Iron ore futures surged on Tuesday following Beijing's announcement of monetary stimulus aimed at supporting the economy. China's central bank introduced several policy measures, including a cut to the reserve…
Iron ore futures tumbled on Monday as market sentiment weakened due to the absence of new stimulus measures from Beijing. Despite expectations of a rate cut to bolster the economy, the Chinese central bank kept the…
India's finished steel imports from China reached a seven-year high in the first five months of the 2024/25 fiscal year, according to provisional government data reported by Reuters. Overall, India's finished steel…
Iron ore futures edged higher on Friday but relinquished some gains by session's end after Beijing maintained its benchmark lending rates. The Chinese central bank maintained the one-year loan prime rate at 3.35pct and…
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