Latest news and articles about steel industry from NEX English
Azz Steel has been ranked as the largest steel producer in the Arab world for 2025, achieving a significant milestone that strengthens its position in the global industry. The company produced <strong>6.4 million tons</strong>, confirming its superiority over regional competitors.
China faces a new crisis following a coal mining disaster in Shanxi, which could negatively impact the country's production in the short term. The potential increase in costs will affect steel companies, power plants, and chemical manufacturers.
In a decisive speech, British Prime Minister Keir Starmer unveiled plans for the full nationalization of the British steel industry, aiming to rescue the government and bolster local industry amid rising pressure from opposition and citizens.
UK Prime Minister Sir Keir Starmer announced plans to nationalize the British steel company, with legislation to be introduced this week following failed negotiations with Chinese owners. This step aims to protect the local industry and ensure production continuity.
Thailand's steel industry faces increasing pressure due to rising oil prices, leading to higher production costs. The Vice President of the Thai Industries Federation warns that these conditions may result in increased steel product prices and reduced production capacity.
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.