Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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SMS group and Steel Dynamics (SDI) have celebrated the successful start-up of four new production lines at two locations. The new Continuous Galvanizing Lines (CGLs) and Color Coating Lines (CCLs) in Sinton, Texas, and…
Iron ore and steel futures slumped on Wednesday as weak demand fundamentals continued to weigh on market sentiment. Weak steel mill margins, driven by sluggish steel demand and mounting iron ore port-side inventory…
Iron ore futures declined on Tuesday as demand concerns overshadowed persistent hopes for stimulus measures. According to recent data from the China Iron and Steel Association (CISA), major member steel producers…
SSAB and Danieli have signed an Early Service Agreement (ESA) for the pre-engineering phase of the Lulea mini-mill project in Sweden. Danieli will provide a highly automated mini-mill solution featuring two electric arc…
Iron ore futures rose on Monday as disappointing economic data fueled hopes for additional stimulus measures from a key meeting this week. China's economy grew 4.7pct YoY in the second quarter, according to official…
Cleveland-Cliffs Inc. has announced a definitive agreement to acquire Stelco Holdings Inc. The transaction values Stelco at approximately USD 2.5 bln. Upon completion, Cliffs shareholders will own about 95pct of the…
Hyundai Steel is expanding its international sales in Europe and America for carbon-reduced steel to align with the global push for carbon neutrality and the EU's Carbon Border Adjustment Mechanism. Recently, Hyundai…
Turkey's HRC imports declined by nearly 52pct YoY in May 2024 and by 24pct month-on-month to approximately 283,000 tons, according to data from the Turkish Statistical Institute (TUIK). In the first five months of 2024…
Iron ore futures inched up on Friday, driven by expectations of stimulus despite weak fundamentals. Commodity markets are anticipating the announcement of stimulus measures at a key government meeting next week…
Egypt's steel producer, Ezz Steel, reported a profit in the first quarter of 2024, according to the company's financial statement. The company recorded a profit of EGP 1.26 bln (USD 26.2 mln), compared to a loss of EGP…
Iron ore futures recovered on Thursday as the market anticipates Beijing to unveil stimulus measures in a key meeting scheduled from July 15 to July 18. The expectation of stimulus measures is further fueled by…
Iron ore and steel futures markets remained subdued on Wednesday due to persistent weak fundamentals. Major steel producer Baosteel decreased HRC prices by 100 yuan per ton for August sales in the domestic market…
Dalian iron ore futures continued to decline on Tuesday, weighed down by demand concerns. The increase in iron ore imports and the already high inventory levels at Chinese ports have further worsened the outlook for…
Blastr Green Steel has selected Primetals Technologies as its technological partner for a new 2.5 mln tons-per-year steel production complex near Helsinki, Finland. The plant, powered entirely by green hydrogen…
Iron ore futures dropped on Monday as weak fundamentals, driven by sluggish steel demand, weighed on market sentiments. Concerns over long-term demand outlook were exacerbated by mounting port-side iron ore inventory…
The Pakistani government has increased duties on a range of imported products, including several steel items, to reduce financial losses as the country seeks to secure a loan agreement of over USD 6 bln with the…
Iron ore futures dropped on Friday due to weak steel output figures and slow steel demand, negatively impacting market sentiment. Based on recent figures released by the China Iron and Steel Association (CISA), major…
Iron ore futures saw their fifth consecutive session of gains on Thursday, buoyed by robust short-term demand and ongoing expectations of further stimulus measures. Chinese steel producers are maintaining production…
Baosteel, the world's largest steel producer and part of the Baowu Group, has signed a contract with Primetals Technologies for a new continuous casting project in Shanghai. This marks the third caster order from Baowu…
Iron ore futures continued to post gains on Wednesday, driven by near-term demand and expectations of additional stimulus from a key government meeting scheduled for mid-July. Improved data from the real estate sector…
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