Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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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…
VIS Credit Rating Company Limited has reaffirmed the entity ratings of Aisha Steel Mills Limited (ASML) at 'BBB+/A2' (Triple B Plus/A Two). The long-term rating of 'BBB+' reflects adequate credit quality with reasonable…
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…
Crescent Steel and Allied Products Limited has been awarded a PKR 1.5 bln (USD 5.38 mln) contract, excluding sales tax, for the supply of 40-inch diameter coated steel line pipes. The company disclosed the development…
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…
South Korea's steel industry will increase prices for general steel products starting January, driven by a sharp rise in the KRW-USD exchange rate and soaring import raw material costs. This marks a shift from earlier…
Outokumpu, a leading stainless steel producer, has issued its fourth-quarter guidance, anticipating a decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) compared to the previous quarter…
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…
Turkey exported nearly 1.7 mln tons of welded steel pipes in the first ten months of 2024, marking an 8pct increase compared to the same period last year, according to the Turkish Statistical Institute (TUIK). In…
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…
The Directorate General of Trade Remedies (DGTR), under the Commerce Ministry, has launched a safeguard investigation into the imports of non-alloy and alloy flat steel products, according to an official notification…
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…
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