Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Turkey's leading steel producer, Erdemir Group, reported a net profit of TRY 11.28 bln (USD 329 mln) for the first nine months of 2024, a turnaround from a TRY 3.83 bln loss in the same period last year. Sales revenue…
Iron ore futures posted slight gains on Wednesday, as optimism over potential stimulus from Beijing helped offset steel demand concerns. Confidence in additional fiscal stimulus grew after a Reuters report spurred price…
Nucor Steel Kingman has signed a 10-year services contract with Harsco Environmental, a leading global provider of steel mill services and a division of Enviri Corporation. Beginning in 2025, Harsco Environmental will…
Turkish steel producer Kardemir has announced an investment to expand its production capacity for value-added steel products and boost competitiveness, according to a stock exchange filing. The company plans to install…
Pakistan's Agha Steel Industries Limited reported a loss of PKR 1.81 bln (USD 10.2 mln) for the quarter ending September 30, 2024, compared to a profit of PKR 125.2 mln in the same period last year, according to a stock…
Iron ore futures fell on Tuesday, as rising inventory levels and weak steel demand weighed on market sentiment. Increasing iron ore supplies from major miners, combined with already elevated port inventories, have put…
Saudi Iron and Steel Company (Hadeed) is raising its long steel prices for November deliveries. The company's rebar (12-32 mm) price will increase by SAR 50 (USD 13) per ton, bringing it to SAR 2,350 (USD 625) per ton…
Iron ore futures rose on Monday as renewed expectations of further stimulus from Beijing helped offset concerns about steel demand. According to the National Bureau of Statistics, China's industrial profits fell sharply…
Lloyds Metals & Energy Ltd. has selected Sarralle to build a new greenfield meltshop in Ghugus, Maharashtra, India. The facility, slated to produce 1.2 mln tons of long steel products annually, will be designed…
Iron ore futures recovered on Friday, supported by improved production figures, though concerns over steel demand persist. Daily crude steel output among China Iron & Steel Association (CISA) member mills for…
Greensteel Australia has partnered with Danieli to establish a 600,000-ton-per-year rolling mill powered entirely by green hydrogen in New South Wales. This groundbreaking facility aims to set a global benchmark for…
UAE's EMSTEEL, formerly Emirates Steel Arkan, has raised its rebar prices for November production. The company is now offering rebar at AED 2,560 (USD 697) per ton, CPT Abu Dhabi, and AED 2,568 (USD 699) per ton, CPT…
Turkish steel producer Kardemir has reduced its billet prices by USD 15 per ton, according to the latest price list. The updated price for S235JR grade billets is USD 535 per ton EXW, while B420 grade billets are set at…
Iron ore futures edged lower on Thursday as concerns over weakening steel demand weighed on the outlook for iron ore. Domestic steel demand is softening, and the upcoming winter season, which typically slows…
Turkish steel producer Kardemir has lowered prices for rebar and wire rod in its latest price list. The company is now offering rebar (12-32 mm) at TRY 21,455 (USD 626) per ton EXW, down from TRY 22,000 (USD 642) per…
Iron ore futures extended losses on Wednesday as weakening fundamentals and lower forecasts for China's economic recovery weighed on market sentiment. Shrinking margins for steel mills may lead to reduced output, with…
Primetals Technologies has completed the installation of a new combination mill at Baoshan Iron and Steel in Shanghai, China, featuring both a wire rod mill outlet and a bar-in-coil line capable of producing 600,000…
Iron ore futures declined on Tuesday as lower steel production and weakening demand dampened market sentiment. In September 2024, China's crude steel output in key steelmaking regions dropped nearly 7pct YoY to 54 mln…
Lower electricity supplies to Iranian steel producers caused a significant drop in output during the first half of the calendar year, which began in late March, according to the Iranian Steel Producers Association…
Iron ore futures rose on Monday, supported by Beijing's latest interest rate cut despite ongoing concerns about softening steel demand. China reduced its benchmark lending rates after the central bank lowered interest…
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