Indonesia

Turkish steel manufacturer Kocaer Celik reported a significant 77pct YoY drop in net profit for the first half of 2024. In a stock exchange filing, the company disclosed a net profit of TRY 145.23 mln (USD 4.26 mln), down from TRY 634.11 mln in H1 2023. Sales revenues declined by...

Turkey imported approximately 118,100 tons of pig iron in July 2024, a 16pct YoY decrease but a 37pct increase compared to the previous month, according to data from the Turkish Statistical Institute (TUIK). In the first seven months of 2024, Turkey's pig iron imports totaled 846,000 tons, reflecting a slight...

Nine Yards Real Estate Development, a subsidiary of EIH Ethmar International Holding, has selected Zublin Construction as the main contractor for the Sea La Vie project on Yas Island, Abu Dhabi. Located in Yas Bay on Yas Island, Abu Dhabi, the Sea La Vie project consists of a four-tower residential...

Iron ore futures plunged on Wednesday following the post-holiday resumption of trading, driven by cautious market sentiment surrounding demand prospects. Chinese commodity markets were closed earlier in the week due to the Mid-Autumn Festival holiday. Higher port-side iron ore inventories, combined with increased supply from major miners and weak margins...

Sinosteel Engineering & Technology Co., Ltd. (Sinosteel E&T) and Tenova have announced the successful performance test of Baosteel Zhanjiang Iron & Steel Co., Ltd.'s new hydrogen-based 1 mln tons per year ENERGIRON Direct Reduction (DR) plant. Located in the Zhanjiang Economic and Technological Zone in Guangdong Province, the plant...

ArcelorMittal Nippon Steel India (AM/NS India) has invested nearly INR 1,000 crore (USD 119 mln) in its Gujarat plant to establish a production line for Magnelis, a patented flat carbon steel with a zinc-aluminium-magnesium alloy coating. This move aims to capture over 50pct of the domestic market share for...

Vallourec, a global leader in premium seamless tubular solutions, has signed a definitive agreement to acquire 100pct of the shares of Thermotite do Brasil Ltda., a subsidiary of Mattr specializing in thermal insulation pipe coating services for the offshore oil and gas sector. The acquisition, valued at USD 17.5...

Australian steel producer BlueScope Steel, through its subsidiary BlueScopeX Pty Ltd, has signed a memorandum of understanding (MoU) with Helios Project Ltd., the developer of the Helios Cycle, a novel process that uses sodium as a reducing agent to produce iron and other metals with lower energy consumption and...

Ezz Steel, Egypt's leading steel producer, reported a profit in the first half of 2024, according to its financial statement. The company achieved a profit of EGP 2.27 bln (USD 46.9 mln), reversing a loss of EGP 810 mln in the same period last year. Net sales in H1 2024...

Borusan Pipe, a Turkish manufacturer, has inaugurated a EUR 15 mln (USD 16.6 mln) service center near Ploiesti, southern Romania. The facility, which received a state grant of EUR 5.83 mln (USD 6.48 mln), is expected to reach a production capacity of 10,000 tons of pipes annually within two years. The...