Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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India's Rama Steel Tubes has announced a strategic collaboration with Onix Renewable to supply steel structures for Onix's solar projects. The partnership aims to leverage Rama Steel Tubes' expertise to provide steel…
Hydnum Steel, Spain's first green steel plant, has signed a Memorandum of Understanding (MoU) with Euroports, a leading European port and logistics operator, to develop integrated logistics solutions for optimizing the…
Turkish pipe producer Borusan Boru announced that its US subsidiary, Borusan Berg Pipe, has signed a pipe supply agreement with Blackcomb Supply Co, LLC, a WhiteWater affiliate, for the Blackcomb Mainline natural gas…
The Saudi Exchange (Tadawul) announced its rejection of Watani Iron Steel's (Watani Steel) request to transfer from the Nomu-parallel market to the main market. According to Tadawul, the decision was made because the…
Iron ore futures tumbled on Tuesday, pressured by a bearish demand outlook driven by a contraction in manufacturing. The official manufacturing PMI fell to a six-month low of 49.1, according to the National Bureau of…
Indian state-owned iron ore miner NMDC reported a nearly 10pct YoY decline in production, reaching 3.07 mln tons in August compared to 3.41 mln tons in August of the previous year, according to a BSE filing. Sales also…
Russian steel producer Severstal has completed the construction of a roll forming unit for cold-formed sheet piles at its Cherepovets Metallurgical Plant. The new unit, with an annual capacity of 60,000 tons, makes…
Morocco's leading flat steel producer, Maghreb Steel, reported a 5pct YoY revenue growth in H1 2024, driven by increased domestic and export sales. The company's sales revenue reached MHD 2.55 bln (USD 260 mln) in the…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) announced in a stock exchange filing the renewal of a Shariah-compliant bank facility agreement worth SAR 25 mln (USD 6.65 mln) with Alinma Bank. The funding, secured…
Iron ore futures plunged on Monday, weighed down by weak official PMI data. The manufacturing PMI dropped to a six-month low of 49.1, according to the National Bureau of Statistics, intensifying pressure on Beijing to…
Sandur Manganese & Iron Ores has received Environmental Clearance (EC) from the Ministry of Environment, Forest, and Climate Change (MoEFCC) for its Ramghad Manganese & Iron Ore Mines. The clearance permits iron ore…
Turkey's scrap import prices strengthened this week, driven by improved market sentiment in the finished steel sector. Scrap import prices were assessed at USD 360-365 per ton CFR, up from USD 355-360 per ton CFR last…
In July 2024, Pakistan's scrap imports rose by 15.6pct YoY, as reported by the Pakistan Bureau of Statistics. The country imported 210,786 tons of scrap that month, compared to 182,340 tons in July 2023. For the first…
Iron ore futures declined on Friday as market remained cautious due to ongoing demand concerns. Iron ore inventories at major Chinese ports rose on a weekly basis, while weak profitability at steel mills kept the…
Mexican steel producer Talleres y Aceros S.A. de C.V. (TYASA) plans to expand into automotive-grade steel to meet rising demand from the growing automotive industry in Mexico. To support this, TYASA has enlisted…
Tata Steel UK's Llanwern steelworks has set a new weekly output record of 14,077 tons, surpassing the previous record by 242 tons, following the introduction of a new technology system on its Zodiac galvanizing line…
Turkish steel manufacturer Karabuk Demir Celik (Kardemir) reported an increase in losses for the first half of 2024, according to the company's financial statement. Kardemir's net loss reached TRY 1.829 bln (USD 53.6…
Pakistan's Agha Steel Industries Limited has announced that it has received a notice of Public Announcement of Intention from Fauji Foundation, which has expressed its interest in acquiring shares and control of the…
Iron ore futures rose on Thursday, driven by expectations of improving demand in the near future, though concerns about long-term demand persist. The reduction in finished steel inventory at major Chinese warehouses…
Nippon Steel Corporation announced additional investments in Mon Valley Works and Gary Works as part of its pending acquisition of United States Steel Corporation (U.S. Steel). These investments are in addition to the…
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