Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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The UAE and Chile have signed a Comprehensive Economic Partnership Agreement (CEPA) to enhance non-oil bilateral trade by removing trade barriers and simplifying customs procedures. The CEPA aims to increase non-oil…
India's Jindal Saw reported strong net profit growth for the quarter ending June 30, 2024. Net profit surged 70.5pct YoY to INR 416.4 crore (USD 49.7 mln), while revenue grew 12.1pct YoY to INR 4,984.8 crore (USD 595…
German steel producer, Thyssenkrupp AG is revising its outlook for FY24, ending September 30, 2024, due to ongoing market challenges that are significantly impacting sales. The market is not expected to stabilize in the…
Iron ore futures remained nearly unchanged on Monday, rebounding from earlier losses thanks to strong industrial data. Weak steel demand fundamentals, however, limited gains. Profits at China's industrial companies grew…
Thailand's steel industry has faced sluggish sales in the first five months of this year, attributed to reduced construction spending and competition from low-cost Chinese imports, according to Tata Steel (Thailand) Plc…
India's steel industry is seeking government support for a level playing field amid challenges from cheap imports, according to Sajjan Jindal, chairman and managing director of JSW Steel. At the company's annual general…
Korean steel producer Posco Holdings reported a decline in net profit for Q2 2024, impacted by weak steel demand. The company's net profit for the quarter ending in June was KRW 546 bln (USD 394.5 mln), a 29.6pct…
Turkey's statistical authority, TUIK, reported a decrease in the construction sector confidence index for July 2024. The index fell by 0.9pct to 87.1 compared to the previous month. In addition, the retail trade sector…
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…
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…
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…
Indian steel manufacturer Jindal Steel & Power reported a 21pct decline in net profit for Q1 FY25, ending June 30, 2024, with a profit of INR 1,337.92 crore (USD 159.8 mln), down from INR 1,691.8 crore in the same…
Crude steel production in the Middle East increased by 5.8pct YoY to 28.5 mln tons in the first half of 2024, according to data from the World Steel Association. However, the region experienced a 2.7pct YoY decline in…
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…
Vietnam's Ministry of Industry and Trade has launched an anti-dumping investigation into HRC imports from China and India following complaints from the domestic industry, according to local media reports. In June 2024…
Pakistan's Large-Scale Manufacturing (LSM) sector witnessed a 7.33pct YoY growth in May, marking its sixth consecutive monthly increase, according to the Pakistan Bureau of Statistics. The LSM sector also grew by…
JSW Steel Limited, a major Indian steel producer, has reported its financial results for the first quarter of fiscal year 2025, which ended on June 30, 2024. In Q1 FY25, the company's consolidated profit fell by nearly…
Hi-Tech Pipes Ltd., a leading steel tubes and pipes manufacturer in India, has achieved its highest-ever sales volume in Q1FY25. The company reported a significant 45pct increase, reaching a total sales volume of…
India was a net importer of steel in Q1 FY25 (April to June), with imports exceeding exports by 0.6 mln tons. Finished steel exports declined consistently due to poor global demand and competition from China, while…
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