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 Friday due to demand uncertainties and the lack of detailed Chinese stimulus measures, which weighed heavily on market sentiment. Adding to the bearish outlook, port-side iron ore inventories…
ICRA projects that domestic steel industry capacity utilization will dip below 80pct in FY2025 for the first time in four years, as cheap imports continue to take market share. The credit rating agency warned that the…
SSAB and Stena Metall have signed a strategic cooperation agreement to ensure the delivery of recycled scrap metal from Stena Nordic Recycling Center in Halmstad, Sweden, to SSAB's new electric arc furnace in Oxelosund…
Corinth Pipeworks, a global leader in steel pipe solutions for energy and construction, has won two major offshore contracts from Subsea7 in the North Sea, reinforcing its strong regional presence and long-term…
Turkey's imports of billets and blooms increased by over 5pct YoY in the first ten months of 2024, according to data from the Turkish Statistical Institute (TUIK). During the January-October period, Turkey imported 2.8…
Emirates Steel, part of EMSTEEL Group, and Modon have signed an MoU establishing Modon as the first developer in the UAE to use low-carbon steel. This collaboration aligns with the UAE's Net-Zero 2050 Strategy, aiming…
Iron ore futures recovered on Thursday, as improved steel demand and stimulus hopes supported the key steelmaking raw material. Steel demand in China remained firm, specially from the manufacturing sector, reflected by…
The Indian government is considering imposing a 25pct safeguard duty on flat steel imports, Union Steel Minister H.D. Kumaraswamy announced. According to reports, the proposal is under review, with a final decision to…
India's Competition Commission (CCI) has approved the acquisition of Thyssenkrupp Electrical Steel India Pvt Ltd by JSquare Electrical Steel Nashik Pvt Ltd, a subsidiary of JSW JFE Electrical Steel Pvt Ltd (J2ES). J2ES…
Vale has finalized negotiations with the US Department of Energy (DOE) to begin Phase 1 of its project to develop an industrial-scale briquette plant in Louisiana. Over USD 3.8 mln in awarded funds will be used for…
Turkish steelmaker Kardemir has reduced its rebar prices in its latest update. The company is now offering 12-32 mm rebar at TRY 19,850 (USD 570) per ton EXW, down from the previous price of TRY 20,415 (USD 591) per ton…
UAE-based steel producer Al Ghurair Iron & Steel (AGIS) has successfully launched the SAP S/4HANA Cloud ERP system, streamlining all critical business processes, the company announced via social media. AGIS is the first…
Iron ore futures fell on Wednesday as a clouded demand outlook dampened market sentiment. Earlier this week, the Politburo signaled a shift in policy, pledging a moderately loose monetary stance and more proactive…
Xinyu Iron & Steel Co. Ltd. (XISCO), a leading Chinese special steel producer and subsidiary of China Baowu Group, has successfully rolled the first bar using its newly installed KOCKS RSB 370++/4. This advanced…
A cargo ship carrying 1,500 tons of scrap metal severely damaged the Muden lock near Cochem on the Moselle River, halting shipping traffic until at least March 2025, according to the German Mosel-Saar-Lahn Navigation…
Turkey's rebar exports fell by 1.6pct YoY to 2.76 mln tons in the first ten months of 2024, according to data from the Turkish Statistical Institute (TUIK). During the January-October period, Yemen was the largest…
Watani Iron Steel Co. (Watani Steel) has renewed a Shariah-compliant bank facility agreement worth SAR 70.5 mln (USD 18.7 mln) with Bank Albilad, according to a stock exchange filing. The financing, backed by a…
Nigeria and Saudi Arabia have initiated discussions to develop Nigeria's iron ore and steel industry, according to Nigerian media reports. During the Resourcing Tomorrow event at the Mines and Money expo in London…
Iron ore futures surged on Tuesday, buoyed by expectations of stronger economic stimulus from Beijing. The Chinese Politburo announced plans for looser monetary policies and proactive fiscal measures to spur economic…
China's steel exports exceeded 100 mln tons in the first 11 months of 2024, marking the first time since 2016, according to data from the General Administration of Customs. The last time China's annual steel exports…
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