Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Dalian iron ore futures extended their gains on Tuesday, driven by expectations of additional stimulus measures. Despite the traditional summer slowdown in construction activity leading to weaker steel demand and…
ArcelorMittal South Africa has decided not to shut down its long steel operations in the KwaZulu-Natal province and is working on a plan to make the operations viable. In January, ArcelorMittal South Africa postponed…
Iron ore futures prices rose on Monday, buoyed by positive manufacturing data and hopes for additional stimulus measures. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) increased to 51.8 in June…
Essar Group is awaiting final approvals to invest about USD 4.5 bln in building a low-carbon steel plant in Saudi Arabia, according to top official Prashant Ruia. Once approvals are received, the conglomerate will begin…
Iron ore futures extended gains on Wednesday, buoyed by hopes of stimulus measures for the troubled property sector. However, demand concerns persist due to high portside inventory and a seasonal slowdown in steel…
India’s steel imports reached 1.3 mln tons in the first two months (April and May) of FY25, up 37pct YoY, surpassing exports, which stood at 0.94 mln tons, down 40pct YoY. This shift underscores India’s position as a…
Iron ore futures plunged on Monday as the traditional slowdown in steel demand, weighing on market sentiments. Despite a recent weekly drop, mounting iron ore inventory at Chinese ports continues to pressure iron ore…
DanSteel has commissioned a new walking beam reheating furnace at its rolling complex 4200 in Frederiksvaerk, Denmark, marking a significant step towards increased efficiency and environmental responsibility. Designed…
Iron ore futures fell on Friday as market sentiments remained negative due to potential steel output curbs and a slowdown in steel demand, which continued to pressure the futures market. Other raw material and steel…
Algoma Steel Group, a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced its results for the fiscal year ended March 31, 2024. The company reported revenue of CAD 2.795 bln (USD 2…
Iron ore futures remained under pressure on Thursday as market sentiments stayed pessimistic. The increasing inventory at Chinese ports and potential output curbs continue to cast a bearish outlook on iron ore demand…
Primetals Technologies has successfully obtained the final acceptance certificate (FAC) for a plate finishing mill installed at Kobe Steel's Kakogawa plant in Japan. This investment, initiated in 2021, aimed to…
Iron ore futures fell on Wednesday due to weak fundamentals impacting market sentiment. The decline is attributed to several factors: low steel mill margins, increasing portside inventory, a slowdown in steel demand…
Tokyo Steel, a major EAF-based steel producer in Japan, has decided to maintain stable steel prices for July, marking the fifth consecutive month of price stability. The company will hold prices steady, with HRC at JPY…
JFE Steel Corporation announced the successful demonstration of its innovative radiant tube burner, developed quickly using digital twin technology. Implemented at a cold rolling plant in the Chiba District of the…
Turkey witnessed a significant increase in HRC exports in April, according to data from the Turkish Statistical Institute (TUIK). In April 2024, Turkey's HRC exports totaled 175,000 tons, marking a nearly 165pct YoY…
Iron ore futures extended their gains on Friday, buoyed by increased steel output, though the demand outlook remained bleak due to weak fundamentals. According to the China Iron and Steel Association (CISA), member…
Oman's Vulcan Steel and Volkswagen AG have signed a Memorandum of Understanding (MoU) to partner on producing low-carbon steel, a key element of Volkswagen’s green steel strategy. This partnership will see up to 300,000…
Iron ore futures prices posted gains on Thursday, supported by a pledge from China's central bank to support the country’s struggling property sector. However, the demand outlook remained bearish due to weak…
Steel Authority of India (SAIL) plans to establish a modern steel plant in Burnpur, West Bengal. The plant, near the existing IISCO Steel Plant, will have a capacity of 4.08 mln tons and is awaiting final vendor…
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