Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Taiwan's China Steel Corp (CSC) will reduce domestic steel prices in September, marking its first across-the-board cut since August last year. The reduction follows a surge in low-priced Chinese steel exports, which has…
Saudi Iron and Steel Company (Hadeed) will lower its wire rod prices by SAR 100 (USD 27) per ton for September deliveries. The new price for wire rod (6.5-16 mm) will be SAR 2,435 (USD 648) per ton. Hadeed recently…
Turkish steel producer Kardemir has reduced its rebar prices in the latest sales round, according to the company's updated price list. The company is now offering rebar in sizes from 12 to 32 mm at TRY 19,450 (USD 579)…
Tosyali's subsidiary in Angola, Tosyali Iron & Steel Angola SA (TISA), is set to establish a new integrated steel facility in collaboration with Angola's state oil company, Sonangol. The facility will be located at the…
Iron ore futures extended their losses on Thursday, driven by weak steel production data and concerns about demand. China's crude steel output fell by 9pct YoY to 82.9 mln tons in July and dropped 9.5pct compared to the…
Primetals Technologies has received the final acceptance certificate (FAC) from Yantai Walsin Stainless Steel for a new stainless steel combination mill in Yantai, Shandong Province, China. This mill, which can produce…
Malaysia's Ministry of Investment, Trade & Industry has initiated an antidumping investigation into tinplate imports from China, India, Japan, and South Korea. The investigation follows a complaint from Perusahaan Sadur…
Japan's Mitsui & Co., Ltd. will establish a new electrical steel sheet processing facility in Skarbimierz, Poland, the company announced. The new entity, named Polska-Mit Steel sp. z o.o., will begin operations in April…
Man Industries (India) has announced plans to establish a new plant in Dammam, Saudi Arabia, with an estimated project cost of over USD 71 mln, according to a stock exchange filing. The new facility will feature line…
Iron ore and steel futures fell sharply on Wednesday, driven by disappointing credit data that heightened concerns about demand. China's bank lending dropped to its lowest level in nearly 15 years, affected by weak…
China's steel industry is facing a crisis more severe than the downturns of 2008 and 2015, according to Hu Wangming, Chairman of China Baowu Steel Group, as reported by Bloomberg. Hu characterized the current conditions…
Achv Aceros has awarded Danieli Centro Tubes a contract to supply two advanced ERW tube mills for its new facility in Monterrey, Mexico. These mills will manufacture welded structural tubes with yield strengths up to…
Saudi Iron and Steel Company (Hadeed) has reduced its rebar prices, citing weak sales as the reason. The price for rebar (12-32 mm) has been cut by SAR 40 (USD 11) per ton to SAR 2,370 (USD 631) per ton. However, wire…
In June, Turkey imported approximately 97,000 tons of pig iron, marking a sharp 66pct increase YoY but a 27pct decrease from the previous month, according to the Turkish Statistical Institute (TUIK). Russia remained the…
Iron ore futures remained steady on Tuesday, with the key steelmaking material continuing to face pressure due to weak demand. Many Chinese steel mills are experiencing losses and reducing output through maintenance as…
Sims Limited has announced a binding agreement to sell its UK metal business to Unimetals Group Limited for approximately USD 249 mln in after-tax cash proceeds, including retained working capital. The final amount will…
Outokumpu, a global leader in sustainable stainless steel, began its foray into the metal powder market for additive manufacturing nearly a year ago. In April 2023, the company launched a pilot project to produce metal…
Makstil AD has selected Danieli technologies to overhaul the reheating furnace at its plate mill in Skopje, North Macedonia. This upgrade will involve a complete redesign of the reheating process, utilizing Danieli's…
The US Department of Commerce has preliminarily determined that Al Jazeera Steel Products sold circular welded carbon-quality steel pipe from Oman below market value in the US. This finding pertains to sales made during…
Saudi Arabia's Group Five Pipe reported a 5pct drop in net profit to SAR 9.2 mln (USD 2.44 mln) for H1 2024, according to a stock exchange filing. The decline was attributed to increased financing costs. The company's…
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