Latest news and articles about steel industry from NEX English
Krakatau Steel, an Indonesian steel manufacturing company, announced a net profit of <strong>339.64 million USD</strong>, equivalent to <strong>5.68 trillion Rupiah</strong>, for the year 2025. This marks a significant turnaround from the losses incurred in the previous year, attributed to a successful debt restructuring program.
Brazilian mining giant Vale is increasing its iron ore shipments to India, capitalizing on the reduced demand in the Chinese market. This strategic move aims to expand its global trade footprint in one of the world's fastest-growing steel markets.
Israeli Prime Minister Benjamin Netanyahu announced that Israeli forces have bombed Iranian petrochemical plants and steel facilities, aiming to undermine Tehran's military capabilities amid rising tensions between Israel and Iran.
Tokyo Steel Manufacturing's shares rose significantly by 21% after Oasis Management announced its acquisition of a stake in the company. This development has sparked investor hopes for potential restructuring.
Mobarakeh Steel Company, Iran's largest steel manufacturer, announced a halt in production following attacks on its facility, causing significant damage to production units. This raises concerns about the impact on the local industry and the Iranian economy.
A violent attack targeted the Mobarakeh Steel Complex in Isfahan, the largest steel manufacturing facility in central Iran, resulting in significant losses. The company's public relations confirmed that the attack impacted several vital points within the complex.
Aditya Birla Group has announced the expansion of its iron ore trading team in Singapore by adding two new employees. This move reflects the company's commitment to strengthening its presence in the growing Asian market amid rising demand for raw materials.
An expert in the steel industry has asserted that the tariffs imposed on billet lack any legal basis, noting that the complaining companies do not sell raw billet at all. These statements raise questions about market policies and their impact on the industry.
The Russian steel industry is facing a new crisis as major producers begin to shut down production units due to declining domestic demand and difficulties in exporting products. This development adds more pressure on the Russian government amid increasing economic challenges.