Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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China’s imports of iron ore climbed by 7.4pct in June from a year before, customs data showed, thanks to solid demand from domestic steelmakers. The world’s largest iron ore consumer brought in 95.52 mln tons of the…
Bangladesh's production of crude steel has experienced a significant decline, reaching a three-year low of 5.2 mln tons. This situation is indicative of reduced demand for primary construction materials due to decreased…
Egypt's exports of iron and steel increased by 46pct YoY to USD 943 mln in the first five months of 2023, compared to USD 647 mln during the same period the previous year. According to the Export Council for Building…
Steel mills in India are experiencing a slowdown in demand in domestic markets, leading to a decrease in prices. Several factors contribute to the declining demand, including the monsoon season and seasonal weakness…
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…
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…
The Ministry of Industry and Mineral Resources (MIM) issued 53 new industrial licenses in April 2023. The licenses were distributed over 7 industrial activities, topped by food processing with 9 licenses. It was…
Tata Steel witnessed a decline in consolidated production, reaching 7.08 mln tons in the first quarter of FY24, compared to 7.67 mln tons in the same period of the previous financial year, according to a statement by…
Vietnam’s steel producer, Hoa Phat Group experienced a decline in crude steel production in June 2023, producing 520,000 tons, which was 23pct lower than the same period in 2022. The company’s sales volumes of…
Japan’s crude steel output is forecast to rise 2.2pct in the July-September quarter from a year earlier, backed by a moderate recovery in automobile production and higher exports, the Ministry of Economy, Trade and…
According to provisional government data, India's import of finished steel reached its highest level since 2021, totaling 0.9 mln tons in April and May. This marked a significant increase of 27pct compared to the same…
India’s Steel Authority of India (SAIL), a state-owned company under the Ministry of Steel, has announced a notable 8 pct YoY growth in its crude steel production. During the first quarter of FY'24, SAIL produced 4.667…
According to data from the Turkish Statistical Institute (TUIK), Turkey witnessed a significant 72 pct increase in HRC imports in May, totaling 589,174 tons. The surge in imports was primarily driven by a sharp increase…
Turkey experienced a significant decline of 19.1 pct YoY in crude steel production in the first five months of 2023, amounting to 13 mln tons. In the month of May alone, there was a 10.3 pct YoY decrease, resulting in…
China is set to export the most steel this year since 2016, say analysts, as the weakening yuan and competitive prices help the world's biggest producer offload surplus metal due to weak demand at home. China's massive…
Preliminary data from the Census Bureau reveals that the United States imported a total of 2.31 mln tons of steel in May 2023. Among these imports, finished steel amounted to 1.86 mln tons, marking a decrease of 2.6pct…
Turkish steel exports to the GCC region experienced a mixed performance in May 2023. While Turkish steel exports to Saudi Arabia declined, there was a notable increase in exports to the UAE and Qatar. In May 2023, the…
Egypt's steel production has been adversely affected since the beginning of the year, as reported by two board members from the Chamber of Metallurgical Industries (CMI) at the Federation of Egyptian Industries. CMI…
The State Bank of Pakistan (SBP) has eased the import restrictions that were imposed in December last year in an attempt to appease the International Monetary Fund (IMF). However, both the business community and…
Weak demand from the construction industry has pushed zinc prices to levels which leave some miners with little or no profit and a prolonged period below USD 2,400 a ton is likely to trigger output cuts. Used for…
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