Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Bengang Steel Plates Co., Ltd. (Benxi), a leading Chinese steel producer, has successfully rolled its first bar using the new Kocks RSB (Reducing & Sizing Block) 370++/4. The state-of-the-art RSB is now fully…
SAIL has awarded Danieli a contract for the design and construction of a state-of-the-art bar mill and a new reheating furnace on a turnkey basis. Located in Durgapur, India, the new bar mill will incorporate advanced…
Peabody has agreed to acquire steelmaking coal assets from Anglo American plc, accelerating its strategy to shift its global coal portfolio toward seaborne metallurgical coal. The transaction, valued at USD 2.32 bln in…
Turkey's scrap import prices fell this week as mills secured cargoes at lower rates. Prices are now assessed at USD 340-345 per ton CFR, down from USD 350-360 per ton CFR last week. The decline is largely driven by weak…
Iron ore futures fell on Friday, reflecting cautious sentiment about the long-term demand outlook despite steady near-term demand. The decline comes after iron ore prices had risen in the previous four sessions…
Acerinox, a multi-national high-performance alloy and stainless steel manufacturing group based in Madrid, Spain, has finalized the acquisition of Haynes International through its U.S. subsidiary, North American…
Pakistan's scrap imports declined by 4.83pct YoY in October 2024, according to data from the Pakistan Bureau of Statistics. The country imported 228,217 tons of scrap during the month, down from 197,421 tons in October…
Iron ore futures edged higher on Thursday, supported by restocking demand despite lingering uncertainty about demand. Steel mills have started replenishing inventories ahead of potential winter disruptions and the…
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…
JSW Steel Italy S.r.l., a subsidiary of JSW Steel Ltd., has signed a commercial agreement with Metinvest Adria S.p.A., as announced in a press release. This agreement follows the Memorandum of Understanding (MoU) signed…
British Steel, the UK's sole rail manufacturer, has opened a GBP 10-mln (USD 12.6 mln) rail stocking facility, the largest of its kind in the country. Located at its headquarters in Scunthorpe, where most UK rail is…
Ovako has reached a key milestone in its sustainable steel-making journey. In the summer of 2024, the furnace at its Boxholm facility in Sweden was rebuilt to switch from oil to a more environmentally friendly oxyfuel…
Turkish pipe producer Borusan Pipe recorded a significant drop in net profits for the first nine months of 2024, citing difficult market conditions. Net profit fell to USD 11 mln, a steep decline from USD 149 mln in the…
Turkey imported approximately 8.14 mln tons of iron ore during the first nine months of 2024, marking a 26pct increase compared to the same period last year, according to data from the Turkish Statistical Institute…
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…
Corinth Pipeworks, the steel pipes division of Cenergy Holdings, is enhancing its competitive edge through strategic investments aimed at increasing production capacity and efficiency. To support its growing customer…
SSAB, a global leader in high-strength steel, has expanded its Strenx Certified Fabricator program to the United Kingdom by appointing MTL Advanced Ltd. in Rotherham as its newest member. This exclusive initiative…
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