Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Whitehaven Coal has announced separate binding agreements to sell a 20pct stake in the Blackwater coal mine to Nippon Steel Corporation and a 10pct stake to JFE Steel Corporation for a total of USD 1.08 bln. The deals…
Saudi Arabian long steel producer Riyadh Steel reported a slight increase in net profit for the first half of 2024. The company's net profit rose by 0.5pct YoY to SAR 2.53 mln (USD 0.67 mln), according to a recent stock…
Turkey's HRC exports reached approximately 1.1 mln tons in the first half of this year, marking a 120pct increase YoY, according to the Turkish Statistical Institute (TUIK). Italy was the largest destination for Turkish…
Crescent Steel and Allied Products Limited has secured an agreement with the joint venture of China Harbour Engineering Company Limited (CHEC) and Al-Fajr International (AFI) to supply an additional quantity of coated…
Iron ore futures surged on Wednesday, driven by positive market sentiment following several supportive property-related measures. According to the National Financial Regulatory Administration (NFRA), China's commercial…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) reported a significant rise in net profit for H1 2024, reaching SAR 3.4 mln (USD 0.9 mln), up from SAR 1.2 mln in the same period last year. The growth in profit was…
Turkey imported nearly 10 mln tons of scrap in the first half of 2024, marking a 3.6pct increase compared to the same period last year, according to the Turkish Statistical Institute (TUIK). Turkey's scrap imports from…
Dalian iron ore futures extended gains on Tuesday, driven by hopes for improving steel demand, though concerns about long-term demand remain. Analysts noted a decline in steel inventories at major Chinese warehouses…
Thyssenkrupp is expanding its low-carbon steel production research through a collaboration with BlueScope Steel, focusing on smelting units crucial for transitioning to carbon-neutral steel. The partnership aims to…
Fortescue has commenced work on its Green Metal Project in the Pilbara region of Western Australia, advancing its goal to create a green metal supply chain, the iron ore miner said in a press release. Located at the…
Turkey's leading steel producer, Erdemir Group reported a net profit of TRY 10.389 bln (USD 308 mln) for H1 2024, reversing a loss of TRY 3.99 bln in the same period last year. The company's sales revenue surged by…
Misr National Steel (Ataqa) reported net profits of EGP 535.45 mln (USD 10.9 mln) for the first half of 2024, up from EGP 410.74 mln in H1 2023. Net sales reached EGP 2.77 bln (USD 56.6 mln) as of June 30, 2024…
Dalian iron ore futures posted gains on Monday, recovering from earlier losses as expectations of improved steel demand supported the market, although long-term demand concerns persist. Analysts noted that better…
The demand for colour-coated steel products is set to grow by 8-10pct each year on an average driven by demand from the construction segment and manufacturers of appliances and white goods, Ranjan Dhar, the director for…
Australian iron ore miner Rio Tinto and Chinese mining equipment giant XCMG have signed a global cooperation framework agreement in Conakry, Guinea's capital. Simultaneously, XCMG and SimFer Company, a joint venture…
Turkey's scrap import prices fell this week to USD 365-370 per ton CFR, down from USD 380 per ton CFR last week, partly due to the availability of cheaper billet import offers. Billet offers from China are now in the…
The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed a contract with Welspun Middle East Pipes to allocate 493,000 square meters of industrial land in Dammam's Third Industrial City for the…
Iron ore futures fell for a fifth consecutive session on Friday as a bearish demand outlook continued to weigh on market sentiment. Iron ore futures also dropped 6pct compared to the previous Friday's morning session…
The Indian Ministry of Commerce and Industry has initiated an anti-dumping investigation into HR flat steel imports from Vietnam, according to a gazette notification. The investigation follows an application by the…
Jindal Stainless, India's largest stainless steel manufacturer, has commissioned its nickel pig iron smelter facility in Halmahera Islands, Indonesia, eight months ahead of schedule, according to a stock exchange…
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