Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Scrap import prices remained steady this week, assessed at USD 345-350 per ton CFR, as holiday-related slowdowns dampened buying activity. The Christmas and New Year holidays kept scrap trading quiet, with limited…
Turkish steelmaker Kardemir has announced its sales allocation plan for the first quarter of 2025. The company plans to reduce allocations for billets and rebar compared to the previous quarter, while increasing…
Iron ore futures declined on Friday as a weak demand outlook weighed on market sentiment. Maintenance shutdowns at several blast-furnace-based steel mills are expected to further reduce steel production, dampening iron…
Iron ore futures were almost steady on Thursday, as weak steel demand balanced restocking activity by Chinese steel mills. Seasonal slowing in steel demand during winter dampened market sentiment. High port inventories…
Iron ore futures closed unchanged on Wednesday as the market remained cautious about demand prospects during a subdued trading session affected by the Christmas holiday. Earlier this week, iron ore prices found support…
Trafilix, part of the Lucefin Group, is investing in its Brescia facility in Italy with the installation of a new high-speed chain-track drawing machine from local equipment maker Danieli Centro Maskin. The machine…
Emirates Steel, part of the EMSTEEL group, has increased rebar prices for January production by AED 50 (USD 13) per ton. The revised prices are set at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi and AED…
UAE-based downstream steel processing firm Al Gurg Building Services has become the first in the country to receive formal approval under the Emirates Conformity Assessment Scheme (ECAS) and the Emirates Quality Mark…
Iron ore futures rose on Tuesday, supported by pre-holiday restocking by Chinese steel mills ahead of the Chinese New Year holiday, which begins on January 28. Further support came from a decline in weekly iron ore…
India's Vraj Iron and Steel has successfully begun commercial operations of its sponge iron plant on December 23, 2024. The plant is part of an expansion project located in Dighoia, Bilaspur, Chhattisgarh. The company…
The Canada Border Services Agency (CBSA) has announced the final determination in its anti-dumping (AD) investigation concerning rebar imports from the UAE, Bulgaria, and Thailand. In its findings, the CBSA assigned…
Iron ore futures climbed on Monday, driven by expectations of firm near-term demand. Market insiders report that Chinese steel mills have begun pre-holiday restocking ahead of the Chinese New Year holiday starting…
Greek steelmaker Sovel has awarded Danieli Automation a contract to modernize the electrical and automation systems of its bar mill in Almyros, Magnesia. The project aims to enhance production safety, stability, and…
Scrap import prices remained stable this week, assessed at USD 345-350 per ton CFR. Sellers maintained firm pricing, citing reduced scrap collection during the winter season, while Turkish steel mills exercised caution…
Iron ore futures declined on Friday, weighed down by ongoing concerns about demand and market sentiment High port inventories, reduced steel production, and environmental-related curbs on steel production in some…
SKF is accelerating its journey to meet its 2030 decarbonization targets and achieve net-zero emissions across its supply chain by 2050. In a new collaboration, SKF is sourcing "GreenSteel Climate+" from Swiss Steel…
Turkish steel producer Kardemir has significantly lowered wire rod prices by USD 35 per ton compared to its November 13, 2024, price list. The updated price for 5.5 mm SAE 1006 grade wire rod is now USD 600 per ton EXW…
Saudi Arabia's Neom has entered a joint venture with Samsung C&T Corporation, supported by the Neom Investment Fund (NIF), to invest over SAR 1.3 bln (USD 345.7 mln) in construction robotics. The partnership focuses on…
Iron ore futures extended their losses on Thursday, weighed down by a bearish demand outlook and declining steel production figures that dampened market sentiment. Crude steel production in China's top ten steelmaking…
Iron ore futures fell on Wednesday, pressured by a bearish outlook for the key steelmaking input. Market sentiment was further dampened by concerns over rising port-side iron ore inventories and weakening steel demand…
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