Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore and steel futures slumped on Wednesday as weak demand fundamentals continued to weigh on market sentiment. Weak steel mill margins, driven by sluggish steel demand and mounting iron ore port-side inventory…
ArcelorMittal Poland placed an order in 2021 with Primetals Technologies for a gas cleaning plant for its blast furnace No. 2 in Dabrowa Gornicza, Poland. Recently, ArcelorMittal granted the final acceptance certificate…
Australian miner Rio Tinto reported a 2pct YoY decrease in iron ore output for Q2 2024, producing 79.5 mln tons. The company also saw a 2pct decline in iron ore production for the first half of 2024. Despite…
Turkey's semi-finished steel imports dropped by 43.7pct month-on-month and plunged by 50pct YoY to approximately 155,000 tons in May 2024, according to data from the Turkish Statistical Institute (TUIK). In the first…
Iron ore futures declined on Tuesday as demand concerns overshadowed persistent hopes for stimulus measures. According to recent data from the China Iron and Steel Association (CISA), major member steel producers…
JFE Steel Corporation announced that its JGreeX green-steel wire rod will be used for the wire handles of "LOOPOX" containers, designed for storing and transporting recycled resources. This marks the first use of JGreeX…
SSAB and Danieli have signed an Early Service Agreement (ESA) for the pre-engineering phase of the Lulea mini-mill project in Sweden. Danieli will provide a highly automated mini-mill solution featuring two electric arc…
Cobra IS, a subsidiary of Vinci, has been awarded a contract by SMS Group GmbH to perform piping and mechanical works at Thyssenkrupp Steel Europe's production plant in Duisburg, Germany. The contract is valued at EUR…
Oman's Al Jazeera Steel Products Co. has ordered two tying machines from ATS Mechatronics, a division of the AIC Group. The TMB400 tying machine boasts the fastest tying cycle on the market at 6.8 seconds. While the…
Iron ore futures rose on Monday as disappointing economic data fueled hopes for additional stimulus measures from a key meeting this week. China's economy grew 4.7pct YoY in the second quarter, according to official…
Cleveland-Cliffs Inc. has announced a definitive agreement to acquire Stelco Holdings Inc. The transaction values Stelco at approximately USD 2.5 bln. Upon completion, Cliffs shareholders will own about 95pct of the…
Hyundai Steel is expanding its international sales in Europe and America for carbon-reduced steel to align with the global push for carbon neutrality and the EU's Carbon Border Adjustment Mechanism. Recently, Hyundai…
The latest data from the World Stainless Association (Worldstainless) showed that global stainless steel melt shop production increased by 5.5pct YoY in Q1 2024, reaching 14.585 mln tons. However, the output declined by…
Turkey's scrap import prices remained stable as buying activity slowed significantly. This slowdown was driven by weak demand in the finished steel segment and suppliers' resistance to lowering prices. Turkish finished…
Turkey's HRC imports declined by nearly 52pct YoY in May 2024 and by 24pct month-on-month to approximately 283,000 tons, according to data from the Turkish Statistical Institute (TUIK). In the first five months of 2024…
Iron ore futures inched up on Friday, driven by expectations of stimulus despite weak fundamentals. Commodity markets are anticipating the announcement of stimulus measures at a key government meeting next week…
China's steel exports surged by 16.5pct in June YoY, reaching 8.75 mln tons, although this was a decrease from May's 9.63 mln tons. Data from the General Administration of Customs showed that in H1 2024, steel exports…
The supply of Cold Rolled Grain Oriented (CRGO) steel, essential for transformer manufacturing, has been severely disrupted, impacting India's power sector expansion plans, according to a report by local media platform…
British Steel's Teesside Beam Mill has successfully completed its GBP 1.4 mln (USD 1.8 mln) summer maintenance and improvement program. David Hogg, Plant Manager for Northern Mills, announced that rolling has resumed…
Egypt's steel producer, Ezz Steel, reported a profit in the first quarter of 2024, according to the company's financial statement. The company recorded a profit of EGP 1.26 bln (USD 26.2 mln), compared to a loss of EGP…
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