Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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According to data from the Steel Ministry, several key export markets for India's steel, including Vietnam, Italy, Spain, Belgium, UAE, and others, either reduced their orders or maintained them at the same level in May…
Iranian finished steel consumption witnessed a 0.5pct YoY increase during the first two months of the current Iranian year (March 21-May 21), reaching 3.59 mln tons for finished products, according to the Iranian Steel…
Algoma Steel Group Inc., a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced results for its fiscal fourth quarter and full year ended March 31, 2023. During the fourth quarter…
Dalian iron ore futures continued their downward trajectory on Wednesday, as a bleak demand outlook weighed on market sentiment. Hopes for substantial stimulus measures ahead of the Chinese national holidays fizzled…
Ternium, a leading steel manufacturer, has announced a significant investment of USD 3.2 billion to construct a state-of-the-art steel plant and cold rolling facility in Nuevo Leon. This new venture will be established…
According to a recent report by the Iranian Steel Producers Association, Iranian steelmakers recorded a production of 6.31 mln tons of semi-finished products during the first two months of the current fiscal year (March…
Dalian iron ore futures continued their downward trend on Tuesday despite the Chinese central bank's reduction in a key lending benchmark rates, failing to provide a boost to the futures market. The People's Bank of…
Taiwan’s China Steel Corp (CSC) has announced a reduction in domestic steel prices for deliveries in July, citing sluggish demand. However, the company remains optimistic about a recovery in demand during the second…
The Pakistan Bureau of Statistics (PBS) released a report stating that the country's Large Scale Manufacturing Industries (LSMI) production witnessed a significant decline of 21.07pct YoY in April 2023. The production…
Dalian iron ore futures extended gains as the Chinese central bank reduced the borrowing cost of its medium-term policy loans for the first time in 10 months. China's medium-term lending facility serves as a funding…
In June 2023, Hydnum Steel and Primetals Technologies signed a Memorandum of Understanding (MoU) with the intention to implement a greenfield plant for green steel production in Puertollano, Spain. The comprehensive…
On Wednesday, Dalian iron ore futures continued their upward trajectory, driven by market optimism surrounding potential stimulus measures following the recent interest rate cut by the People's Bank of China (PBOC). The…
Thyssenkrupp Steel and Mercedes-Benz have agreed to expand their existing cooperation to include CO2-reduced steel, and signed a memorandum of understanding to this effect in April. It is intended for Mercedes-Benz to…
Maire S.p.A. announces that its subsidiary NextChem and Marcegaglia Group have signed a contract for a feasibility study to accelerate the decarbonization of Marcegaglia's steel plant in Ravenna (Emilia Romagna region…
UAE's steel exports to the United States declined by nearly 35 pct YoY to 77,236 tons in the first four months of 2023. In Jan-Apr 2023, UAE's pipe was the major product exported in the given period to the United…
Dalian iron ore futures rebound on Tuesday following the Chinese central bank's decision to reduce a key short-term policy rate aimed at supporting the country's sluggish post-pandemic recovery. The People's Bank of…
Vietnamese steel producer, Hoa Phat Group witnessed a decline in production and sales figures in May 2023 compared to the same period last year. However, there were signs of recovery compared to the previous month…
Dalian iron ore futures declined on Monday due to uncertainties surrounding the steel demand outlook caused by challenges in the property sector. The property sector is expected to face long-lasting weaknesses…
Dalian iron ore futures extended their gains as concerns regarding a tepid economic recovery and disappointing economic data heightened expectations of stimulus to propel the economy. The fragile state of China's…
Voestalpine Group, based in Austria, reported a 22.1pct YoY increase in revenue, reaching EUR 18.2 bln (USD 19.5 bln) for the business year 2022/23, ended on March 31, 2023. The company stated that this revenue figure…
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