Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures extended losses on Wednesday, as market sentiments remained negative despite improved economic data. China's factory price deflation eased slightly, and the consumer price index increased marginally…
Iron ore futures grew slightly on Monday, as market participants held onto hopes that stimulus measures would be implemented to revive faltering economic growth. However, the government's emphasis on restricting steel…
Vietnam’s major steel producer, Hoa Phat Group posted a revenue of VND 29,800 bln (USD 1.25 bln) in Q2 2023, showing a decline of 21pct compared to the same period in the previous year. The company’s profit after tax…
The steel producer Nucor Steel Nebraska in the U.S. has successfully rolled the first bar on its new Kocks intermediate Reducing & Sizing Block (RSB). The so-called iRSB represents one of the latest advancements in…
Turkey's scrap import prices experience further decline as steel demand remains subdued. Scrap import offers for the Turkish market are in the range of USD 345-350 per ton CFR, reflecting a decrease of USD 5-10 per ton…
Saudi Iron and Steel Company (Hadeed) has made the decision to keep the prices of rebar and wire rod unchanged for the production in August. The pricing of rebar, available in sizes ranging from 12-32 mm, and wire rod…
Iron ore futures continue to slide as the government's move to limit steel output raises demand concerns. According to reports, major steel mills have been directed to restrict their output, curbing any potential…
In May 2023, Turkey's wire rod exports faced a significant decline of over 62pct YoY, with the total volume amounted to 39,533 tons, as reported by the Turkish Statistical Institute (TUIK). Despite this overall…
Turkish steel producer, Kocaer Celik has successfully secured steel profile orders amounting to USD 14.7 mln from the American continent, the company said in a stock exchange filing. The newly received orders…
China's iron ore futures recorded a decline on Thursday due to concerns over demand. This was primarily triggered by environmental output restrictions and reports indicating that major steel mills were instructed to…
China's iron ore futures continued their upward trajectory on Wednesday, driven by expectations of economic stimulus measures from the Chinese government. In response to signs of a cyclical slowdown, the ruling…
Nucor-Yamato Steel, based in Blytheville, Arkansas, has selected Danieli Centro Combustion to provide an advanced walking-beam furnace for its beam mill. This cutting-edge solution includes automation and material…
Turkey's major steel producer, Kardemir has kept steel sections prices unchanged, according to the company's new price list. The price range for IPE-NPU (160-550 mm) remains at USD 700-820 per ton EXW, while the price…
Khalifa Economic Zones Abu Dhabi (KEZAD) Group and Al Jazeera Steel Products have begun the construction of a new rolling mill in Abu Dhabi, with an investment of AED 250 million (USD 68 mln). Spanning an expansive area…
China's iron ore and steel futures posted gains on Tuesday following a meeting led by President Xi Jinping, during which the country's leaders pledged to introduce new measures to bolster the faltering economy. The…
Chinese steel producer Xingtai Iron & Steel Co. Ltd. has signed a significant contract with Friedrich Kocks GmbH & Co. KG for the installation of an advanced RSB 370++/4 Reducing & Sizing Block in 5.0 design. This…
Turkish steel producer, Kardemir has reduced wire rod prices, according to its latest price list. The company has revised the price of its 5.5 mm SAE 1006 grade wire rod to USD 600 per ton EXW, indicating a decrease…
UAE’s Emirates Steel Arkan (ESA) has announced that it will keep rebar prices unchanged for August production. The company will continue offering rebar at AED 2,450 (USD 667) per ton CPT Abu Dhabi and AED 2,458 (USD…
Iranian steelmakers experienced substantial growth in exports during the first quarter of the current fiscal year 2024 (March 21 - June 21). According to the latest data released by the Iranian Steel Producers…
Dalian iron ore futures faced downward pressure on Monday due to concerns over repayment issues at two major developers in China, which further deepened the crisis in the property sector. Country Garden and Dalian…
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