Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Dalian iron ore futures recovered on Friday, buoyed by Beijing's latest stimulus measure, although demand fundamentals remain weak. Chinese authorities announced the allocation of 300 bln yuan (USD 41.4 bln) in…
Caleotto SPA, a Feralpi Group company specializing in wire rod production for value-added special steel, has selected AIC to upgrade its rolling mill. AIC will supply power control and automation cabinets for the new…
Turkish steel manufacturer Kardemir has opened a new round of billet sales, as indicated in its latest price list. The company is offering S235JR grade billets at USD 540 per ton EXW and B420 grade billets at USD 555…
Tosyali Algerie has signed a memorandum of understanding with Algeria's state-owned oil company, Sonatrach, to jointly conduct a feasibility study for producing green hydrogen from renewable energies in Algeria. The…
Steelmaking raw materials and steel futures slumped on Thursday as weak steel demand continued to weigh on market sentiment. According to the China Iron and Steel Association (CISA), daily crude steel output among…
Jiangsu Yonggang Iron and Steel Group has fully commissioned its new Danieli eight-strand billet and bloom casters in Zhangjiagang, Jiangsu province, China. These casters produce high-quality steels, including…
Korea's Hyundai Steel has filed an anti-dumping petition against Chinese thick steel plate manufacturers, alleging damage from lower-priced Chinese exports, industry sources said. The company recently submitted a…
Swedish steelmaker SSAB reported a 40pct YoY decline in operating profit to SEK 2.96 bln (USD 275 mln) for Q2 2024, according to a press release. The company attributed this drop primarily to lower US heavy plate…
Turkish steel producer Kardemir has launched a new round of rebar sales while keeping prices stable, according to its latest price list. The company is offering rebar in sizes ranging from 12 to 32 mm at TRY 19,550 (USD…
Turkey's imports of stainless steel flat products increased slightly by 1pct YoY in the first five months of 2024, according to data from the Turkish Statistical Institute (TUIK). In Jan-May 2024, Turkey imported…
Iron ore and most steel futures extended their losses on Wednesday, pressured by a weakening steel market and ongoing concerns about demand. Higher port-side inventory, despite a slight recent weekly decline, and weak…
Regional steel trading associations in China are seeking a delay in implementing new quality standards for steel rebar, used in construction, following news of the rules' planned September 25 implementation, according…
Japan's Marubeni-Itochu Steel Inc. has agreed to acquire shares in Network Steel Resources, S.A. (NSR), Spain's largest independent steel group, making it an equity-method affiliate. Founded in 2002, NSR specializes in…
UAE's Emirates Steel Arkan has maintained rebar prices for its August production. The company will continue offering rebar (10-40 mm) at AED 2,369 (USD 645) per ton EXW, AED 2,377 (USD 647) per ton CPT Abu Dhabi, and…
Iron ore futures extended losses on Tuesday, with weak demand fundamentals and a lack of stimulus from a key government meeting last week darkening the outlook. China's shaky economic recovery is hampered by weak…
Nippon Steel has agreed to transfer its entire stake in the joint venture Baosteel-Nippon Steel Automotive Steel Sheets Co., Ltd. (BNA) to Baosteel at the end of the current management period, pending regulatory…
Indian Finance Minister Nirmala Sitharaman has proposed eliminating the import duty on ferro-nickel, a key raw material for stainless steel production, and extending the duty exemption on ferrous scrap imports. "To…
Fives and Poland's Cognor have commissioned a new reheating furnace at the Cognor Ferrostal Labedy plant in Krakow to boost production capacity. The first hot billet was successfully discharged on the first attempt…
MMK Metalurji, a Turkish steel producer, reported substantial growth in steel output in the first half of 2024, according to its operational results. The company's crude steel production surged to 274,000 tons, compared…
Turkey's iron ore imports reached approximately 879,000 tons in May 2024, marking a 42.6pct YoY increase but a 17.7pct decrease compared to the previous month, according to the Turkish Statistical Institute (TUIK). From…
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