Tuesday, May 12, 2026
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Jindal Steel acquires Sohar-based MISCO – sources
Jindal Steel Oman acquired Moon Iron & Steel Company (MISCO) in Sohar, according to sources familiar with the matter. MISCO suspended steel production activities in...Metal Care Center commissions rebar mill in Umm Al Quwain
Metal Care Center Factory LLC commissioned a new scrap-based induction furnace rebar mill with annual production capacity of 300,000 tons at the UAQ Industrial...Watani Steel reports lower profit in Q1 on weaker steel prices
Saudi Arabia-based Watani Iron Steel Co. (Watani Steel) reported lower net profit for the first quarter of 2026, as lower steel selling prices continued...Assent Steel to expand fabrication capacity in Dubai Industrial City
Assent Steel Industries, a UAE-based structural steel fabricator and supplier, signed a musataha agreement with Dubai Industrial City to expand its operations and increase...
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Iron ore futures decline on demand worries
Iron ore futures declined on Tuesday amid concerns that growth in Chinese steel production may be peaking, while high port-side inventories and rising global...Garuda Yamato Steel selects Danieli to modernize water-treatment plant
PT Garuda Yamato Steel (GYS) awarded Danieli a contract to modernize the water-treatment plant serving its steel production facilities in Indonesia. According to Danieli, the...Hyundai-POSCO Louisiana Steel orders rolling mills for greenfield project
HYUNDAI-POSCO Louisiana Steel LLC (HPLS) awarded SMS group a contract to supply rolling mills and related equipment for its new greenfield steel plant in...SSAB delays Oxelosund fossil-free steel conversion project
SSAB announced that the conversion of its Oxelosund steel mill in Sweden to fossil-free production will be delayed due to appeals related to species...
- Prices
Iron ore futures decline on demand worries
Iron ore futures declined on Tuesday amid concerns that growth in Chinese steel production may be peaking, while high port-side inventories and rising global...Iron ore rises on firm steel demand, positive economic data
Iron ore futures increased on Monday, supported by firm steel demand in China and positive economic data. Chinese steel production remained stable, while mill margins...Scrap import prices stable as cautious buying sentiment prevails
Turkey's import scrap prices remained stable this week, as firm supplier sentiment was offset by resistance from Turkish steel mills amid weak finished steel...Iron ore slips on demand concerns
Iron ore futures edged lower on Friday as rising global supply and a slowing pace of restocking weighed on market sentiment. Higher iron ore shipments...
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