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SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
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SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)

SABIC, a global diversified chemicals company, has been awarded five of the prestigious Edison Awards 2023 for its innovative solutions, designed to meet the needs of their customers and the broader value chain, and as well aligned with Saudi Vision 2030, reported the Saudi Press Agency on Friday.

SABIC won three gold and two bronze awards across three separate areas for its new products and solutions. These areas include “Food and Agriculture”, “Material Science” and “Sustainability.”

The awards reflect SABIC’s commitment to pushing the limits of science, technology, and innovation and defining the future of chemistry that allows SABIC and its customers to address some of the world’s biggest challenges.

This is the third consecutive year that SABIC’s solutions have been recognized by Edison Awards, which honor the world’s most innovative new products, services, and business leaders. This is also the second consecutive year that SABIC received at least five Edison awards.

“SABIC is proud to be recognized for the third consecutive year by Edison Awards, demonstrating our continued leadership in new technology and innovation advancements. These are key elements of our continued business growth on our journey to be the preferred world leader in chemicals and provide innovative solutions for the future that create a more sustainable world,” said Abdulrahman Al-Fageeh, CEO at SABIC.

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China’s First Four-Month Steel Exports at Record High Despite Tariff Turmoil 

Workers install steel rods at a construction site in Miami, Florida, US, March 11, 2025. (Reuters)
Workers install steel rods at a construction site in Miami, Florida, US, March 11, 2025. (Reuters)
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China’s First Four-Month Steel Exports at Record High Despite Tariff Turmoil 

Workers install steel rods at a construction site in Miami, Florida, US, March 11, 2025. (Reuters)
Workers install steel rods at a construction site in Miami, Florida, US, March 11, 2025. (Reuters)

China's steel exports in April topped 10 million metric tons for a second straight month bringing the total in the first four months to a record high, underpinned by front-loaded shipments ahead of US President Donald Trump's hefty tariffs.

The world's largest steel producer and exporter shipped 10.46 million tons of steel last month, customs data showed on Friday. While largely unchanged from March, exports were 13.5% higher than the same month in 2024.

Exports from January to April jumped by 8.2% from the year before to an all-time high for the period of 37.89 million tons.

"Steel exports in April are a bit higher than our expectation, albeit maintaining positive annual growth, supported by sustained front-loading orders observed," said Jiang Mengtian, a Shanghai-based analyst at consultancy Horizon Insights.

Jiang forecast May shipments to slow as tariff and widening trade protectionism started to bite.

Washington's tariffs threaten the transshipment trade, where third countries resell Chinese steel to the US, while China's top steel customers like South Korea and Vietnam have also imposed duties to avoid steel being rerouted and dumped in their markets.

Second-quarter exports are set to fall by as much as a fifth from the first quarter as a result, eight analysts and traders told Reuters earlier this week.

China's April iron ore imports climbed by 9.8% from March to the highest since December, as improved margins encouraged mills to book more seaborne cargoes.

The world's largest iron ore consumer brought in 103.14 million tons of the key steelmaking ingredient last month, up from a 20-month low of 93.97 million tons in March.

The volume last month, which was largely in line with analysts' expectations, was also 1.3% higher than 101.82 million tons in April 2024.

"Since March imports missed expectations, it's not surprising to see higher iron ore imports in April, which could also be reflected in higher hot metal output last month and a pile-up in inventory in the last two weeks of April," said Pei Hao, an analyst at international brokerage Freight Investor Services (FIS).

In the first four months of this year, China's iron ore imports slid 5.5% from the year earlier to 388.36 million tons, the data showed.