Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Pakistan's Agha Steel Industries Limited reported a loss of PKR 1.81 bln (USD 10.2 mln) for the quarter ending September 30, 2024, compared to a profit of PKR 125.2 mln in the same period last year, according to a stock…
Iron ore futures fell on Tuesday, as rising inventory levels and weak steel demand weighed on market sentiment. Increasing iron ore supplies from major miners, combined with already elevated port inventories, have put…
Metso has opened a cutting-edge direct reduced iron (DRI) smelting furnace pilot facility in Pori, Finland. This facility will enable customer-specific pilot-scale testing to showcase the effectiveness of Metso's…
Saudi Iron and Steel Company (Hadeed) is raising its long steel prices for November deliveries. The company's rebar (12-32 mm) price will increase by SAR 50 (USD 13) per ton, bringing it to SAR 2,350 (USD 625) per ton…
Vale, a leading iron ore miner, and China's Jinnan Iron & Steel Group have announced a partnership to establish Oman's first iron ore concentration plant at Sohar Port and Freezone. With an initial investment of over…
Iron ore futures rose on Monday as renewed expectations of further stimulus from Beijing helped offset concerns about steel demand. According to the National Bureau of Statistics, China's industrial profits fell sharply…
Lloyds Metals & Energy Ltd. has selected Sarralle to build a new greenfield meltshop in Ghugus, Maharashtra, India. The facility, slated to produce 1.2 mln tons of long steel products annually, will be designed…
Axpo Italia, a leader in renewable energy, has signed a Power Purchase Agreement (PPA) with Tenaris to supply Dalmine, Tenaris' seamless steel tube factory in Italy, with 15 GWh of certified green energy annually. This…
NLMK Clabecq has launched "InThinity", an advanced process technology for producing quarto heavy plates with high precision, standardly achieving thicknesses of up to 15 mm. According to NLMK Clabecq, InThinity marks a…
Turkey's scrap import prices declined this week amid a cautious market mood, with scrap buying activity limited by weak demand for finished steel. Scrap import prices are now assessed at USD 360-365 per ton CFR, down…
Pakistan's scrap imports rose by 4.68pct YoY in September 2024, as reported by the Pakistan Bureau of Statistics. The country imported 211,539 tons of scrap that month, compared to 202,078 tons in September 2023. In the…
Iron ore futures recovered on Friday, supported by improved production figures, though concerns over steel demand persist. Daily crude steel output among China Iron & Steel Association (CISA) member mills for…
Jindal (India) Limited, part of the B.C. Jindal Group and a leading manufacturer of downstream steel products in India, has signed a supply agreement with John Cockerill India Limited for a state-of-the-art colour…
Greensteel Australia has partnered with Danieli to establish a 600,000-ton-per-year rolling mill powered entirely by green hydrogen in New South Wales. This groundbreaking facility aims to set a global benchmark for…
UAE's EMSTEEL, formerly Emirates Steel Arkan, has raised its rebar prices for November production. The company is now offering rebar at AED 2,560 (USD 697) per ton, CPT Abu Dhabi, and AED 2,568 (USD 699) per ton, CPT…
Turkish steel producer Kardemir has reduced its billet prices by USD 15 per ton, according to the latest price list. The updated price for S235JR grade billets is USD 535 per ton EXW, while B420 grade billets are set at…
Omani steel producer Al Jazeera Steel Products Co. SAOG reported a substantial 62pct YoY increase in net profit for the first nine months of 2024, according to its unaudited financial statement. The company's net profit…
Iron ore futures edged lower on Thursday as concerns over weakening steel demand weighed on the outlook for iron ore. Domestic steel demand is softening, and the upcoming winter season, which typically slows…
India's leading iron ore producer and exporter, the National Mineral Development Corporation (NMDC), has increased prices by INR 600 (USD 7.13) per ton for iron ore lump and INR 400 (USD 4.75) per ton for iron ore…
Turkish steel producer Kardemir has lowered prices for rebar and wire rod in its latest price list. The company is now offering rebar (12-32 mm) at TRY 21,455 (USD 626) per ton EXW, down from TRY 22,000 (USD 642) per…
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