Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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UAE steel manufacturers have filed complaints with Indian customs regarding alleged illegal steel scrap imports from the UAE, citing falsified documentation and export fee evasion, as reported by Zee News. The companies…
Iraq is planning to build a sponge iron plant to support its steel industry after it plummeted below its half output capacity, the industry minister has said. The plant in the Southern Basra city will produce nearly one…
Iron ore futures gained on Monday, reversing earlier losses as renewed hopes for economic stimulus offset concerns about weak demand. The Standing Committee of China's National People's Congress (NPC) is meeting from…
Italian steel producer Acciaierie d'Italia (ADI) has signed a Memorandum of Understanding (MoU) with DRI d'Italia SpA, marking a formal agreement to collaborate on the construction of a 2.5 mln ton per year direct…
Turkey's scrap import prices have fluctuated within a limited range this week, reflecting a slight decline. Current prices are assessed at USD 355-365 per ton CFR, down from USD 360-365 per ton CFR last week. The…
UAE's EMSTEEL, one of the region's largest publicly traded steel and building materials manufacturers, announced its financial results for the first nine months of 2024. The group reported revenues of AED 5.87 bln (USD…
Iron ore futures declined on Friday amid a clouded demand outlook, despite encouraging private PMI data and expectations for further economic stimulus. Rising port-side iron ore inventories and seasonal slowdown in…
United States Steel Corporation reported net earnings of USD 119 mln for Q3 2024, a decrease from USD 299 mln in the same quarter last year. U.S. Steel President and CEO David B. Burritt highlighted that the adjusted…
Oman's Al Jazeera Steel Products Co. reported significant profit growth for the first nine months of 2024, with profit reaching OMR 3.9 mln (USD 10.1 mln), a 62pct increase YoY, driven by strong construction demand in…
Iron ore futures fell on Thursday as the market remained cautious amid a mixed demand outlook. However, hopes for further stimulus and strong manufacturing data helped limit losses. High iron ore port inventories and…
Nippon Steel Corporation (NSC) has launched an overseas version of its ProStruct brand, providing advanced construction solutions for buildings and infrastructure since October. Originally introduced in Japan in 2022…
Nucor Tubular Products Marseilles has awarded Danieli Centro Tube a contract for a new orbital cut-off saw for its 5K-ERW mill in Marseilles, Illinois, USA. This saw will cut welded tubes up to 6 5/8 inches (168 mm) in…
Thyssenkrupp Aerospace and SKF have signed a two-year contract extension for the supply of steel, stainless steel, titanium, aluminum, and copper to SKF's facility in Lons le Saunier, France. As part of this agreement…
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…
China's leading steel producer, Baoshan Iron & Steel (Baosteel), reported a nearly 65pct drop in net profit for the third quarter, primarily due to declining steel prices. In a filing to the Shanghai Stock Exchange, the…
India's JTL Industries Limited has successfully expanded its Raipur facility's capacity from 100,000 to 200,000 tons per annum, according to a recent stock exchange filing. This expansion brings JTL's total pipe…
Cleveland-Cliffs Inc. has announced that it has obtained the necessary regulatory and program approvals under the Investment Canada Act and the Strategic Innovation Fund, completing the final steps needed for its…
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…
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