Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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ArcelorMittal South Africa has decided not to shut down its long steel operations in the KwaZulu-Natal province and is working on a plan to make the operations viable. In January, ArcelorMittal South Africa postponed…
Finland’s Outokumpu has agreed to sell its distribution business in Mexico City, Guadalajara, and Monterrey, formerly known as Outokumpu Mexinox Distribution (OMD). The agreement was made with Prominox, the largest…
Pakistani rebar manufacturers have raised prices by PKR 5,000 (USD 18) per ton, effective July 1, 2024, in response to rising production costs. The current price range is now between PKR 266,500-268,500 (USD 955-962)…
Iron ore futures prices rose on Monday, buoyed by positive manufacturing data and hopes for additional stimulus measures. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) increased to 51.8 in June…
Tega McNally Minerals (TMML), a subsidiary of Tega Industries and formerly known as McNally Sayaji Engineering, has entered a consortium agreement with NMDC for the design, manufacturing, supply, erection, testing, and…
Siam Yamato Steel Company Limited (SYS), based in Bangkok, Thailand, specializing in hot-rolled structural steel production, has partnered with SMS group's Brazilian subsidiary, Vetta, to implement the Viridis…
Turkish steel producer Kardemir has announced new prices for rebar, according to its latest price list. The company is now offering rebar in sizes ranging from 12 to 32 mm at TRY 19,455 (USD 590) per ton, up from the…
Essar Group is awaiting final approvals to invest about USD 4.5 bln in building a low-carbon steel plant in Saudi Arabia, according to top official Prashant Ruia. Once approvals are received, the conglomerate will begin…
Iron ore futures extended gains on Wednesday, buoyed by hopes of stimulus measures for the troubled property sector. However, demand concerns persist due to high portside inventory and a seasonal slowdown in steel…
India’s steel imports reached 1.3 mln tons in the first two months (April and May) of FY25, up 37pct YoY, surpassing exports, which stood at 0.94 mln tons, down 40pct YoY. This shift underscores India’s position as a…
Pakistan's scrap imports surged by 50pct YoY in June 2024, according to the Pakistan Bureau of Statistics. The country imported a total of 250,734 tons of scrap during the month, compared to 167,075 tons in the same…
In June 2024, Pakistan saw a significant surge in finished steel imports, with a 67.6pct YoY increase, according to data from the Pakistan Bureau of Statistics. The country imported 302,412 tons of finished steel during…
Iron ore futures plunged on Monday as the traditional slowdown in steel demand, weighing on market sentiments. Despite a recent weekly drop, mounting iron ore inventory at Chinese ports continues to pressure iron ore…
The Indian commerce ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has recommended continuing countervailing or anti-subsidy duties on welded stainless steel pipes and tubes from China…
DanSteel has commissioned a new walking beam reheating furnace at its rolling complex 4200 in Frederiksvaerk, Denmark, marking a significant step towards increased efficiency and environmental responsibility. Designed…
Turkey's scrap import prices remained stable as Turkish steel mills paused buying activity due to the Eid holidays. Scrap import prices in Turkey are assessed at USD 379-382 per ton CFR. Demand for Turkish finished…
Iron ore futures fell on Friday as market sentiments remained negative due to potential steel output curbs and a slowdown in steel demand, which continued to pressure the futures market. Other raw material and steel…
Indian scrap recycler MTC Business Private Ltd receives investment from Japan’s Mitsui & Co., Ltd., solidifying a strategic partnership for the expansion of metal recycling operations in India. MTC is set to become an…
Algoma Steel Group, a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced its results for the fiscal year ended March 31, 2024. The company reported revenue of CAD 2.795 bln (USD 2…
LKAB, an international mining group, is deepening its strategic partnerships with leading Swedish construction companies as it prepares for a significant expansion and transformation of its business operations. The…
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