Agha Steel narrows loss in FY2026
Pakistan’s Agha Steel Industries reported a loss after taxation of PKR 4.74 bln (USD 17.1 mln) for the financial year ended June 30, 2026, compared with a loss of PKR 7.21 bln (USD 25.9 mln) a year…
Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
Showing Pakistan — 210 articles. Show all
Pakistan’s Agha Steel Industries reported a loss after taxation of PKR 4.74 bln (USD 17.1 mln) for the financial year ended June 30, 2026, compared with a loss of PKR 7.21 bln (USD 25.9 mln) a year…
Mughal Iron & Steel Industries Limited (Mughal Steel) reported a net profit of PKR 2.49 bln (USD 9 mln) for the financial year ended June 30, 2026, up 158 pct from PKR 965.5 mln a year earlier. Net…
Govt has started work on a PKR 12 bln (USD 43.3 mln) project to modernize the Gadani shipbreaking yard, with infrastructure upgrades aimed at bringing the facility in line with international safety…
Mughal Energy Limited, a wholly owned subsidiary of Mughal Iron & Steel Industries Limited, has successfully commissioned the main 31.5 MW turbine of its captive hybrid power plant and achieved the…
Pakistan’s National Tariff Commission (NTC) has initiated a sunset review of existing anti-dumping duties on cold-rolled (CR) steel imports from the European Union, Vietnam, Taiwan and South Korea…
Pakistan’s International Steels Limited (ISL) reported a sharp improvement in profitability in the nine months ended March 2026, supported by higher steel sales, improved capacity utilization and…
Pakistan’s Aisha Steel Mills returned to profitability in FY26, reporting a net profit of PKR 981.1 mln (USD 3.6 mln), compared with a net loss of PKR 1.35 bln a year earlier, supported by higher…
Pakistan’s Frontier Foundry Steel Limited (FF Steel) has formally launched its Initial Public Offering (IPO) process, marking the company’s planned debut on the Pakistan Stock Exchange (PSX). The…
The Pakistani government has introduced a new mechanism for collecting sales tax from electricity-based steel melters, re-rollers and composite units, linking tax payments directly to electricity…
Pakistan’s Pakistan Association of Large Steel Producers (PALSP) has urged the Federal Board of Revenue (FBR) to introduce a lower sales tax rate for digitally compliant steel mills while clearing…
Ship recycling operations have resumed at Pakistan’s Gadani Ship Breaking Yard after an eight-year suspension, with seven vessels arriving for dismantling, according to local media reports. The…
Pakistan imported 323,896 tons of steel scrap in June 2026, up nearly 65pct from 196,424 tons in the corresponding month last year, according to data from the Pakistan Bureau of Statistics (PBS)…
Pakistan imported 389,370 tons of finished steel products in June 2026, more than doubling from 187,456 tons in the corresponding month last year, according to data from the Pakistan Bureau of…
Pakistan’s Agha Steel Industries Ltd has signed a bilateral restructuring agreement with Bank Al Habib Ltd (BAHL), marking a key milestone in the company’s ongoing financial restructuring program…
Pakistan’s Securities and Exchange Commission (SECP) has introduced special facilitation measures to accelerate the conversion of steel sector Associations of Persons (AOPs) into registered companies…
Amreli Steels Limited has extended the suspension of operations at its S.I.T.E. rolling mill in Karachi for a further one year, citing continued weak market conditions and unfavorable economic…
Pakistan imported 239,758 tons of steel scrap in May 2026, down by more than 25pct compared with 320,937 tons imported in the same month last year, according to data from the Pakistan Bureau of…
Pakistan imported 233,954 tons of finished steel products in May 2026, down 33.3pct compared with the same month last year, according to data from the Pakistan Bureau of Statistics (PBS). Imports…
Pakistan’s Steel Melters Association (PSMA) has called on the government to abolish withholding tax on local scrap purchases and rationalize electricity tariffs in the federal budget for FY2026/27 to…
Pakistani flat steel producers International Steels Limited (ISL) and Aisha Steel have increased domestic prices for cold rolled and galvanized steel products by PKR 3,000 (USD 11) per ton, marking…
China’s iron ore futures were largely unchanged on Thursday as expectations of tighter Brazilian supply and high freight rates were offset by weakening steel demand and high iron ore inventories at…
Hoa Phat Group has completed nearly 70pct of construction of its Dung Quat rail and special steel production plant in Vietnam, with work now focused on completing the factory structure and installing…
Vale has agreed to acquire a 30pct minority stake in Ligga S.A., which operates the Ferro Sul iron ore mine in northern Brazil, for around USD 190 mln. The transaction also includes an exclusive…
Mesabi Metallics has started up its new iron ore mine and pellet plant in Nashwauk, Minnesota, marking the first new iron ore mine and pellet plant to start up in the US in 50 years. The company…
Italian special steelmaker ABS Acciaierie Bertoli Safau, part of the Danieli Group, has opened a new service center in Varnamo, Sweden, strengthening its presence in the Nordic market. The facility…
China’s iron ore futures edged higher on Wednesday as concerns over Brazilian supply provided support, although weakening steel mill profitability and expectations of lower steel output limited the…
Tata Steel has issued the Final Acceptance Certificate for a coke-oven gas purification and hydrogen production system supplied by Canada’s PyroGenesis through its subsidiary Pyro Green-Gas at the…
Vow ASA’s wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement with Danieli Corus B.V. to develop and market solutions for using biocarbon in integrated steel…
Italian industrial technology company Polytec has acquired a 51pct stake in Green Project Marking & Reading Systems, strengthening its offering of automation, identification and traceability…
China’s iron ore futures declined on Tuesday as ample supply and rising port inventories weighed on sentiment, although pre-holiday restocking by steel mills and high freight costs continued to…
India’s largest iron ore producer NMDC is targeting production of 60 mln tons this fiscal year to meet growing demand from domestic steelmakers, Chairman Amitava Mukherjee said. NMDC produced 53.15…
Voestalpine has received the core equipment for a new electric arc furnace (EAF) at its Linz steelworks, with the facility scheduled to start operation in the first half of 2027. The equipment…
Huttenwerke Krupp Mannesmann (HKM) has permanently decommissioned Blast Furnace A at its Duisburg site after more than 53 years of operation, as part of Salzgitter AG’s transition toward lower-carbon…
B5Plus Group has selected Danieli to supply equipment for a new rebar and wire rod mill in Abidjan, Cote d’Ivoire (Ivory Coast), with production capacity of 50 tons per hour, or around 300,000 tons…
Severstal has completed development and started production of Forcera weather-resistant steel in thin-sheet form, targeting long-life protective structures for road and civil infrastructure. The…
China’s iron ore futures traded rangebound on Monday as pre-holiday restocking by steel mills provided support, while high inventories and weak mill profitability limited upward momentum. Analysts…
China Baowu and BHP have renewed their steel decarbonization partnership through a new five-year Memorandum of Understanding (MoU), extending collaboration that began in 2020. The partners will…
Indonesia’s Anti-Dumping Committee (KADI) has initiated an anti-dumping investigation into imports of galvanized steel (BJLS) from China, following an application submitted by PT Tata Metal Lestari…
Vallourec has been selected by EnEarth, a subsidiary of Energean, to supply approximately 3,000 tons of casing pipes and accessories for the first phase of the Prinos CO2 carbon storage project in…
The European Commission has imposed a provisional safeguard measure on imports of certain grain-oriented electrical steel (GOES), citing a sharp increase in imports and serious injury to EU…
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