Europe

Turkey's scrap import prices remained stable this week as buyers evaluated the market in light of cheaper billet offers from China. Scrap prices were assessed at USD 370 per ton CFR, unchanged from the previous week. Last week, Turkish steel mills increased their scrap purchases to replenish stocks, but this...

Turkey's HRC exports reached 1.4 mln tons in the first seven months of this year, marking a significant 145pct increase compared to the same period last year, according to data from the Turkish Statistical Institute (TUIK). Italy was the largest importer, receiving 433,000 tons of Turkish HRC, followed by Spain...

Turkish steel producer Kardemir has secured a new rail export order, according to a stock exchange filing. The company signed a contract worth USD 17.64 mln to supply rails to Azerbaijan, with delivery scheduled in three shipments by the end of 2024. Founded in 1937, Kardemir is a major steel player...

Innovo has been awarded the contract for Emaar Misr for Development's project "The Peak" in Uptown Cairo, Egypt. The project, valued at over USD 51 mln, includes the construction of 139 villas over 170,000 sqm, along with infrastructure development and landscaping. Innovo, headquartered in London, UK, has additional offices in Dubai,...

Iron ore futures declined on Friday but recorded weekly gains as mills increased production to capitalize on improved steel demand. The reduction in steel inventories at major Chinese warehouses, signaling stronger demand during the traditional peak consumption season in September and October, bolstered positive market sentiment. The weekly rise in iron...

JSW Steel reported a 1pct YoY increase in consolidated crude steel production for August 2024, reaching 2.31 mln tons, according to a stock exchange filing. In India, production rose by 2pct to 2.24 mln tons, up from 2.215 mln tons in August 2023, with a capacity utilization rate of 91pct...

NMDC, India's leading iron ore producer, has allocated INR 2,200 crore (USD 262 mln) for FY 2025 to establish a slurry pipeline and new processing plants, targeting a production increase to 100 mln tons by 2030. Amitava Mukherjee, CMD (Additional Charge), stated that the ambitious goal integrates sustainability, aiming...

Gerdau Whitby recently placed orders with AIC to manage the intermediate drives, finishing drives, and the complete control system for their rolling mill. This project, commissioned in the summer of 2024, achieved a successful startup after a brief 10-day outage, with the plant returning to full production on the...

Turkey's semi-finished steel imports (billet and bloom) reached approximately 261,250 tons in July, reflecting a 7.8pct YoY decline. However, imports surged by 59pct compared to the previous month. In the first seven months of the year, Turkey's total semi-finished steel imports amounted to 1.58 mln tons, marking a 29.5pct decrease...

Turkish steel manufacturer Cemtas Celik reported a net profit of TRY 26 mln (USD 764,456) in H1 2024, a significant drop from TRY 95.4 mln in the same period last year, according to its financial statement. During this period, Cemtas saw an 8.7pct YoY decline in revenue, reaching TRY 2.841...