Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Hungary's Economic Development Ministry announced that Liberty Steel has emerged as the successful bidder to acquire the assets of Dunaferr, a Hungarian steelmaker currently undergoing liquidation. Liberty Steel offered…
In May, Turkish wire rod exports showed a notable rebound, increasing by 47pct compared to the previous month. However, the YoY figures remained bleak, with exports plummeting by 63pct. The total exports for May…
The Egyptian Ministry of Trade and Industry has announced that it will maintain tariffs on steel rebar imports from China, Turkey, and Ukraine for a period of five years. The antidumping duties on rebar imports from…
East Pipes Integrated Company for Industry signed a Shariah-compliant credit facility agreement worth SAR 1.1 bln (USD 293 mln) with Banque Saudi Fransi, according to a statement to Tadawul. The agreement is valid for…
Despite the Chinese government's recent stimulus measures aimed at addressing the challenges faced by the troubled property sector, iron ore futures remained rangebound on Tuesday. The central bank's announcement of an…
Japanese metals giant Nippon Steel has developed a new type of stainless steel designed to better withstand contact with liquefied hydrogen, with an eye on the growing market for hydrogen refueling stations in Japan…
Cenergy Holdings, a Belgian holding company focused on the growing global demand of energy transfer, renewables, and data transmission, has announced that its steel pipes segment, Corinth Pipeworks, has been awarded a…
According to the latest statistics released by World Stainless Association (Worldstainless), stainless steel melt shop production decreased by 5 pct YoY to 13.66 mln tons in the first quarter of 2023. The stainless…
Pakistan's flat steel manufacturers, International Steels Limited (ISL) and Aisha Steel, have announced a price reduction for CRC and galvanized coil for the domestic market. This marks the first adjustment in prices…
Pakistan’s rebar producer, Dost Steels Limited (DCL) faces continued closure of operations amid pending litigation, according to the company's progress report. Despite management's efforts to find a resolution and…
Iron ore futures tumbled on Monday as sentiments were dampened by unfavorable economic data. The National Bureau of Statistics (NBS) reported that the producer price index (PPI) fell for the ninth consecutive month in…
SteelAsia Manufacturing Corp., the largest steel manufacturer in the Philippines, announced that it has successfully exported more than 36,000 tons of rebars to Canada. The Chairman and CEO of SteelAsia, Benjamin Yao…
Blastr Green Steel has signed a Letter of Intent (LOI) with Redcar Bulk Terminal (RBT) at Teesside, United Kingdom, to explore the opportunity for RBT becoming the location for Blastr´s pellet plant for supplying…
Global Steel Wire, a part of Celsa Group, and Michelin, a leader in sustainable mobility, have entered into a collaboration agreement to enhance the circularity and sustainability of steel products supplied by Global…
Tenaris, a leading global manufacturer and supplier of steel pipes for the energy industry, has made a strategic investment of USD 10 mln to acquire the oil and gas division of Isoplus. Isoplus is a renowned producer of…
Ferrexpo Plc, an iron ore pellet producer, announced an 18pct QoQ increase in production during Q2, despite the ongoing conflict in Ukraine and related energy and logistics challenges. The company successfully operated…
Turkey has witnessed a decrease in scrap import prices over the past two weeks as buying activity remains minimal due to weak finished steel. Scrap import offers for the Turkish market hover around USD 375 per ton CFR…
Turkey's major steel producer, Kardemir has lowered steel sections prices, according to the company's new price list. The company's new price range for IPE-NPU (160-550 mm) is USD 750-900 per ton EXW, which is lower…
Egyptian steel producer, Ezz Steel, faced a net loss in Q1 2023 as profitability was impacted by sharp currency depreciation. According to the company's financial statement, they posted a net loss of EGP 2.489 bln in Q1…
Iron ore futures dropped on Friday due to diminishing expectations of broader stimulus measures. Despite the recent slowdown in economic recovery, analysts believe the likelihood of significant stimulus is unlikely, as…
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