Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures fell on Thursday as market attention shifted to demand fundamentals and growing concerns that Beijing might not deliver stronger stimulus measures. Investor sentiment turned cautious following Chinese…
Liberty Steel is temporarily shutting down its wire rod plant in Peoria, Illinois, and has furloughed over 500 employees, according to local media reports. A company spokesperson told the Peoria Journal-Star that the…
Riyadh Steel, Saudi Arabia's steel producer, announced in a stock exchange filing that its board of directors has accepted the resignation of CEO Ahmed bin Abdulkarim Al-Nafea. The filing also confirmed that Al-Nafea's…
Iron ore futures rose on Wednesday as markets anticipated additional stimulus measures from Beijing, despite lingering demand concerns. Market expectations are high for additional stimulus measures ahead of the annual…
Turkey's scrap import prices continued to decline this week, reflecting ongoing challenges in the steel market. Prices are now assessed at USD 335-340 per ton CFR, down from USD 340-345 per ton CFR recorded last week…
Iron ore futures climbed on Friday, supported by restocking activity and anticipation of further economic stimulus. Chinese steel mills increased their iron ore inventories to prepare for potential disruptions during…
Tata Steel has partnered with Danieli to modernize the wire rod line at its Jamshedpur plant. The project included the installation of two advanced shearing units, a crank shear and a rotary shear, along with an…
Turkish steel producer Kardemir has reduced its billet prices by USD 25 per ton, according to its latest price list. The updated price for S235JR grade billets is now USD 495 per ton EXW, while B420 grade billets are…
Iron ore futures remained unchanged on Thursday, reflecting cautious sentiment in the market despite firm near-term demand. Restocking by Chinese steel mills ahead of winter continues to provide support for prices…
Egypt's Ezz Steel announced that a transformer at Meltshop No. 2 of its subsidiary, Ezz Flat Steel Company in Suez, has suffered a significant malfunction, according to the company's stock exchange filing. The…
Iron ore futures rose on Wednesday as Chinese steel mills increased restocking efforts ahead of the winter season, partially offsetting the weak steel demand outlook. The market also anticipates potential policy…
Saudi Iron and Steel Company (Hadeed) has revealed its updated long steel prices for December deliveries. The price of rebar (12-32 mm) will rise by SAR 50 (USD 13) per ton, bringing it to SAR 2,400 (USD 639) per ton…
Iron ore futures rose slightly on Tuesday, supported by restocking activities from Chinese steel mills ahead of potential winter logistics disruptions. However, gains were limited by a weak outlook for steel demand and…
Emirates Steel, part of the EMSTEEL group, has raised rebar prices for December production by AED 50 (USD 14) per ton. The updated prices are AED 2,610 (USD 711) per ton delivered to Abu Dhabi and AED 2,618 (USD 713)…
Iron ore futures rose on Monday, buoyed by restocking activities as steel mills prepared for potential winter disruptions and the upcoming February holiday. This proactive inventory replenishment provided some support…
Bengang Steel Plates Co., Ltd. (Benxi), a leading Chinese steel producer, has successfully rolled its first bar using the new Kocks RSB (Reducing & Sizing Block) 370++/4. The state-of-the-art RSB is now fully…
SAIL has awarded Danieli a contract for the design and construction of a state-of-the-art bar mill and a new reheating furnace on a turnkey basis. Located in Durgapur, India, the new bar mill will incorporate advanced…
Turkey's scrap import prices fell this week as mills secured cargoes at lower rates. Prices are now assessed at USD 340-345 per ton CFR, down from USD 350-360 per ton CFR last week. The decline is largely driven by weak…
Iron ore futures fell on Friday, reflecting cautious sentiment about the long-term demand outlook despite steady near-term demand. The decline comes after iron ore prices had risen in the previous four sessions…
Iron ore futures edged higher on Thursday, supported by restocking demand despite lingering uncertainty about demand. Steel mills have started replenishing inventories ahead of potential winter disruptions and the…
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