Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Zimbabwe's Dinson Iron and Steel Company, a subsidiary of China's Tsingshan Holding Group, has commenced production at its USD 1 bln steel plant in in Manhize near Mvuma. Wilfred Motsi, the project director of…
Turkish steel manufacturer Kardemir has announced its sales allocation plan for the period from July to September 2024. The company has increased allocations for billet, rebar, and profiles compared to the previous…
Vallourec has signed a two-year extension to its 2019 contract with the Abu Dhabi National Oil Company (Adnoc), originally valued at USD 900 mln. This extension will take effect in January 2025 and will last until…
Iron ore futures remained under pressure on Thursday as market sentiments stayed pessimistic. The increasing inventory at Chinese ports and potential output curbs continue to cast a bearish outlook on iron ore demand…
Jindal Stainless supplied stainless steel to manufacture 100 freight wagons, being exported to Mozambique, the company announced in a press release. These wagons, made up of grade IRSM 44 stainless steel specially…
Primetals Technologies has successfully obtained the final acceptance certificate (FAC) for a plate finishing mill installed at Kobe Steel's Kakogawa plant in Japan. This investment, initiated in 2021, aimed to…
JFE Steel's JGreeX green steel, known for its reduced environmental impact, has been chosen by a leading U.S. manufacturer of IT data center transformers, marking its debut in the United States. The order will be…
Turkish steel manufacturer Kocaer Celik reported a 7.36pct YoY drop in net profit for the first quarter of 2024. According to the company's stock exchange filing, Kocaer Celik recorded a net profit of TRY 95.847 mln…
In April 2024, Turkey saw a sharp 70.1pct YoY decline in wire rod exports, as reported by the Turkish Statistical Institute (TUIK). Despite this, April's exports totaled 41,000 tons, marking an increase of over 52pct…
Iron ore futures fell on Wednesday due to weak fundamentals impacting market sentiment. The decline is attributed to several factors: low steel mill margins, increasing portside inventory, a slowdown in steel demand…
Tokyo Steel, a major EAF-based steel producer in Japan, has decided to maintain stable steel prices for July, marking the fifth consecutive month of price stability. The company will hold prices steady, with HRC at JPY…
JFE Steel Corporation announced the successful demonstration of its innovative radiant tube burner, developed quickly using digital twin technology. Implemented at a cold rolling plant in the Chiba District of the…
Turkey's scrap import prices remained stable ahead of the upcoming Eid holidays, despite sluggish demand for finished steel. Currently, scrap import prices in Turkey are assessed at USD 379-382 per ton CFR. The rise in…
Turkey witnessed a significant increase in HRC exports in April, according to data from the Turkish Statistical Institute (TUIK). In April 2024, Turkey's HRC exports totaled 175,000 tons, marking a nearly 165pct YoY…
Japan's Nippon Steel and Sumitomo Corp have secured orders from QatarEnergy for high-alloy seamless pipes to be used in a carbon capture storage (CCS) project. This project, led by QatarEnergy in Qatar’s Mesaieed…
Iron ore futures extended their gains on Friday, buoyed by increased steel output, though the demand outlook remained bleak due to weak fundamentals. According to the China Iron and Steel Association (CISA), member…
Jindal Stainless has completed the acquisition of the remaining 46pct stake in Chromeni Steels (CSPL) for a total consideration of INR 277.90 crore (USD 33.2 mln). CSPL operates a cold rolling mill in Mundra, Gujarat…
The Indian Government has announced a USD 54.4 mln auction to promote hydrogen use in the steel and iron sector. MECON, the Scheme Implementing Agency (SIA), has issued a Request for Proposal (RFP) for hydrogen…
Oman's Vulcan Steel and Volkswagen AG have signed a Memorandum of Understanding (MoU) to partner on producing low-carbon steel, a key element of Volkswagen’s green steel strategy. This partnership will see up to 300,000…
Iron ore futures prices posted gains on Thursday, supported by a pledge from China's central bank to support the country’s struggling property sector. However, the demand outlook remained bearish due to weak…
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