Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Celsa has agreed to sell 100pct of its subsidiaries in the UK and Nordics to Sev.en Global Investments, a Czech investment group focused on power generation and mining, the company announced in a press release. The sale…
Turkish steel producer Kardemir has decreased its rebar prices in the latest pricing update. The company is now offering 12-32 mm rebar at TRY 20,415 (USD 591) per ton EXW, down from TRY 20,920 (USD 609) per ton EXW set…
Iron ore futures extended gains for the third consecutive session on Wednesday, driven by expectations of economic stimulus. However, gains were capped by concerns over demand. Following Shanghai's recent relaxation of…
Iron ore futures climbed on Tuesday, buoyed by market optimism over potential additional stimulus measures. Positive sentiment was sparked by a press briefing from China's top economic planner, which raised expectations…
South Korean steelmaker Posco has announced the closure of its Wire Rod Plant 1 at the Pohang steelworks in North Gyeongsang Province. The decision was attributed to a persistent global oversupply of steel, an influx of…
Iron ore futures rose on Monday, driven by new support measures for China's struggling property sector. Shanghai announced a relaxation of real estate policies, removing the distinction between ordinary and non-ordinary…
Tokyo Steel, Japan's leading EAF-based steel producer, has decided to maintain its steel prices for December. Key prices include HRC at JPY 92,000 (USD 596) per ton, pickled and oiled coils at JPY 100,000 (USD 648) per…
Scrap import prices in Turkey fell this week influenced by weak demand for finished steel. Current prices are assessed at USD 350-360 per ton CFR, down from USD 360-365 per ton CFR last week. The ongoing decline in…
China's Century Steel Mill has threatened to withdraw from its steel project in the Rashakai Special Economic Zone (SEZ), citing significant challenges, according to local media reports. The Rashakai SEZ, a flagship…
Iron ore futures declined further on Friday, pressured by a weak steel demand outlook. Seasonal slowdowns in steel demand during winter added to concerns, while high port-side inventories and rising imports created…
Iron ore futures declined on Thursday as weak demand fundamentals outweighed Beijing's new tax cuts for the property sector. Rising iron ore shipments to China are increasing port inventories, while steel mills face…
Turkish steel producer Kardemir has reduced wire rod prices by USD 10 per ton as compared to the prices announced on October 23, 2024, according to its latest price list. The company's new price for 5.5 mm SAE 1006…
Fauji Foundation has officially withdrawn its Public Announcement of Intention (PAI) to acquire a controlling stake in Agha Steel Industries Limited, as confirmed by Integrated Equities Limited, the offer manager, in a…
Iron ore futures traded within a narrow range on Wednesday as the market struggled for direction amid weak demand and hopes for supportive measures for the property sector. Investors remain optimistic that Beijing will…
Local and regional steel producers, including Emirates Steel, Union Iron & Steel, Qatar Steel FZE, and Oman's Jindal Shadeed, have recently obtained Emirates Conformity Assessment Scheme (ECAS) certification in line…
Iron ore futures edged up on Tuesday amid reports of new housing incentives, despite weakening steel demand. Beijing is considering reducing taxes on home purchases, with Bloomberg reporting that the deed tax in major…
Iron ore futures fell on Monday, weighed down by weak demand fundamentals and a lackluster stimulus package, which dampened market sentiment. Demand for iron ore remains soft, driven by high port inventories and…
Turkey's scrap import prices edged up slightly, fluctuating within a narrow range as suppliers held firm on prices despite a decline in Turkish steel prices. Current prices are assessed at USD 360-365 per ton CFR, up…
Turkish steel producer Kardemir has decreased its billet prices by USD 15 per ton, according to the latest price list. The new price for S235JR grade billets is USD 520 per ton EXW, while B420 grade billets are offered…
Turkey's wire rod exports reached approximately 736,300 tons in the first nine months of 2024, a sharp increase of 76pct compared to the same period last year, according to the Turkish Statistical Institute (TUIK)…
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