Middle East steel industry news.

Fortescue Metals Group's (ASX:FMG) Dividend Is Being Reduced ...
Wed, 30 Aug 2023 20:06:59 GMT
Fortescue Metals Group Limited ( ASX:FMG ) is reducing its dividend from last year's comparable payment to $1.00 on


Major steel, mining projects worth $2 billion underway
Thu, 24 Aug 2023 00:00:00 GMT
A total of 22 steel and mining projects with a total investment of two billion dollars are currently being implemented across the country, Mohammadali Aziz-Mohammadi, the head of Iran International Engineering Company (IRITEC) has said. The projects have started over the last few years, he said, adding that a part of the necessary funding has been allocated. Some 700 million euros and 100 trillion rials (about $204.5 million) of the funding is yet to be provided, he added. The projects


Bahrain Steel to supply iron ore pellets for giant Saudi project
Tue, 22 Aug 2023 00:00:00 GMT
Foulath subsidiary, Bahrain Steel, a leading producer and global supplier of high-grade iron-ore pellets, has partnered with multinational conglomerate Essar Group to supply iron ore pellets to the Green Steel Arabia (GSA) project. The Letter of Intent (LoI) signing ceremony was held in Jubail, KSA. As per the LoI, Bahrain Steel will deliver 4 million tonnes of DR-grade pellets per annum to Essar Group. Essar is looking at investing about $4.5 billion to set up an integrated steel plant in


Japan, UAE to build low-carbon iron supply chain
Wed, 19 Jul 2023 00:00:00 GMT
Japans Itochu 8001.T said on Tuesday it has teamed up with JFE Steel Corp, Emirates Steel Arkan EMSTEEL.AD and Abu Dhabi Ports Group ADPORTS.AD for a low-carbon iron supply chain, as Japan and the United Arab Emirates are pursuing green goals. The memorandum of understanding to build the supply chain was signed during Japan Prime Minister Fumio Kishidas visit to the UAE where the project area will be located, Itochu said. The countries have agreed to cooperate on technology and climate


EU sets China/Turkey bulb flats provisional duties
Fri, 14 Jul 2023 00:00:00 GMT
The European Commission has announced the imposition of provisional anti-dumping duties on the import of steel bulb flat bars from China and Turkey. This follows an investigation that was opened at the end of last year, following a complaint lodged by Spains Laminados Losal. Chinese-origin imports will be subject to an anti-dumping duty of


Firm Turkish rebar exporters face resistance to their offers ...
Fri, 09 Jun 2023 00:00:00 GMT
Turkish rebar exporters faced resistance from buyers to their offers and no new bookings were reported on the day June 8. As lira-denominated rebar offers paced upwards in response to fast Turkish lira depreciation, the export offers in US dollars remained stable. The Turkish currency neared 23.4/$1 on June 8, which was another daily


Turkish Kocaer invests in geothermal power for green steel production
Wed, 17 May 2023 00:00:00 GMT
Turkish merchant bar and steel sections producer Kocaer Steel has invested in a geothermal power plant in Horsunlu, Aydin, in accordance with its sustainable growth strategy, the company said May 16. To strengthen our position as a leading green steel production company in our industry, we aim to diversify our clean energy production resources


Beltrame advances steel production restart in Romania
Fri, 12 May 2023 00:00:00 GMT
Italys Beltrame Group is re-launching crude steelmaking at its Donalam plant in Romania, formerly COS Targoviste, the groups chief commercial officer, Enrico Fornelli, confirmed toKallanishon the sidelines of this weeks Made in Steel tradeshow in Milan. Beltrame acquired the mill last year and relaunched rebar production in June, using feedstock sourced from other parts


Turkish mills prepare China HRC anti-dumping petition
Fri, 28 Apr 2023 00:00:00 GMT
Istanbul, 27 April (Argus) Turkish hot-rolled coil (HRC) producers are preparing to submit a petition for an anti-dumping investigation on Chinese HRC, Colakoglu chief executive Ugur Dalbeler told Argus on the sidelines of a EUROMETAL and YISAD steel conference in Istanbul today. Turkeys HRC imports from China have surged since the start of


Turkey's 1Q steel capacity utilisation plummets
Fri, 28 Apr 2023 00:00:00 GMT
Istanbul, 28 April (Argus) Turkish steelmaking capacity utilisation dropped dramatically to 54pc in the first quarter, compared to 70pc in the same period of 2022, according to Turkish steel producers association TCUD. The decrease was mainly as a result of the earthquakes that hit southern Turkey in early February, which saw producer Isdemir,


Emirates Steel negotiates thyssenkrupp stake acquisition: reports
Fri, 28 Apr 2023 00:00:00 GMT
Abu Dhabi-based steelmaker Emirates Steel Arkan (ESA) is in talks to acquire a stake in German conglomerate thyssenkrupp AGs steel unit, with a formal bid expected in months, Bloomberg reports. No concrete developments are expected until after Miguel ngel Lpez Borrego takes over from the outgoing Martina Merz as thyssenkrupp chief executive on 1 June. ESA


Trinecke Zelezarny appoints new chief executive
Wed, 12 Apr 2023 00:00:00 GMT
Roman Heide has become chief executive and chairman of Trinecke Zelezarny (TZ), replacing Jan Czudek who headed the company for 11 years, Kallanish learns from the Czech steelmaker. Czudek, who also served on the management board for 23 years, will continue to serve on the supervisory board for some of the firms subsidiaries. We



Number of Middle East industry news reports: 12
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