Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures gained on Thursday, driven by a more optimistic short-term demand outlook. The National Development and Reform Commission (NDRC) of China released a survey indicating a cautious optimism for the Chinese…
Baoshan Iron & Steel Co. Ltd., a leading Chinese steel producer, has successfully completed the initial rolling of bars using the Kocks Reducing & Sizing Block (RSB) in its new SBQ rolling mill. This investment enhances…
Korean steel producers Posco and Dongkuk Steel have been cautious about joining Hyundai Steel's anti-dumping complaint against low-priced thick steel plates from China, according to industry sources, reported by the…
Turkish steel manufacturer Kardemir has lowered its wire rod prices in the latest sales update. The company is now offering 5.5 mm SAE 1006 grade wire rod at USD 615 per ton EXW, a decrease of USD 10 per ton from the…
In June 2024, Pakistan's scrap imports fell by 6.65pct YoY, according to the Pakistan Bureau of Statistics. The country imported 216,809 tons of scrap that month, down from 232,245 tons in June 2023. This marks the…
Dalian iron ore futures fell slightly on Wednesday as weak demand fundamentals overshadowed stimulus hopes prompted by recent manufacturing data. China's manufacturing activity continued its decline for the third…
Shagang Group has commissioned new Castrip lines at its Zhangjiagang plant in Jiangsu Province, China, according to equipment supplier, Primetals. Since introducing Castrip technology in 2018, Shagang has invested in…
Thyssenkrupp Rasselstein has awarded SMS group a contract to supply switch-mode power modules for its electrolytic tinning line in Andernach, Germany. The line, originally supplied by SMS group in 2005, will receive 44…
Saudi Iron and Steel Company (Hadeed) has set its prices for rebar and wire rod for August production. The company is offering rebar (12-32 mm) at SAR 2,410 (USD 642) per ton, unchanged from the previous month. In…
Egypt's steel rebar production surged 37pct YoY to 4.15 mln tons in the first half of 2024. This growth was supported by the availability of USD and increased exports, according to official data. Rebar consumption in…
Iron ore futures fell on Tuesday due to ongoing concerns about weak demand. Weak steel mills' margins and mounting port-side inventories, compounded by increased imports from major miners, dampened market sentiment. The…
India's Jindal Saw reported strong net profit growth for the quarter ending June 30, 2024. Net profit surged 70.5pct YoY to INR 416.4 crore (USD 49.7 mln), while revenue grew 12.1pct YoY to INR 4,984.8 crore (USD 595…
Turkish steel producer Borcelik, a joint venture between ArcelorMittal and Borusan Holding, has chosen Danieli technology for its new cold-mill complex in Gemlik, Bursa, Turkey. The new pickling line coupled with a cold…
Canada has extended the preliminary phase of its antidumping duty investigation into rebar imports from the United Arab Emirates, Bulgaria, and Thailand. Originally expected to conclude by May 3, the investigation now…
Iron ore futures remained nearly unchanged on Monday, rebounding from earlier losses thanks to strong industrial data. Weak steel demand fundamentals, however, limited gains. Profits at China's industrial companies grew…
SMS group has installed a new twin-stand Steckel mill at Shandong Tisco Xinhai Stainless Co. Ltd. in China. On June 21, the mill successfully rolled five coils in continuous operation, achieving dimensions of 1500 mm…
Thailand's steel industry has faced sluggish sales in the first five months of this year, attributed to reduced construction spending and competition from low-cost Chinese imports, according to Tata Steel (Thailand) Plc…
Steel Dynamics Heartland Division (SDI Heartland) has partnered with ABB Electrification Service to upgrade its aging substation equipment. ABB will design, build, and install new switchgear doors, controls, and…
Turkey's scrap import prices held steady this week at USD 390 per ton CFR, as Turkish mills shifted their attention on finished steel sales. Scrap buying activity was sluggish due to weak demand for finished steel and…
Chinese steelmaker Baoshan Iron and Steel Company (Baosteel) will more than double its investment in a steel plate joint venture with Saudi partners Aramco and the Public Investment Fund (PIF). Baosteel will invest USD…
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