Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures declined on Friday as a weak demand outlook weighed on market sentiment. Maintenance shutdowns at several blast-furnace-based steel mills are expected to further reduce steel production, dampening iron…
Iron ore futures were almost steady on Thursday, as weak steel demand balanced restocking activity by Chinese steel mills. Seasonal slowing in steel demand during winter dampened market sentiment. High port inventories…
Iron ore futures closed unchanged on Wednesday as the market remained cautious about demand prospects during a subdued trading session affected by the Christmas holiday. Earlier this week, iron ore prices found support…
Emirates Steel, part of the EMSTEEL group, has increased rebar prices for January production by AED 50 (USD 13) per ton. The revised prices are set at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi and AED…
Iron ore futures rose on Tuesday, supported by pre-holiday restocking by Chinese steel mills ahead of the Chinese New Year holiday, which begins on January 28. Further support came from a decline in weekly iron ore…
Crude steel production in the Middle East rose by 1.4pct YoY to 49.2 mln tons during the first eleven months of 2024, according to the World Steel Association. In November alone, the region recorded a 2.7pct YoY…
Iron ore futures climbed on Monday, driven by expectations of firm near-term demand. Market insiders report that Chinese steel mills have begun pre-holiday restocking ahead of the Chinese New Year holiday starting…
Scrap import prices remained stable this week, assessed at USD 345-350 per ton CFR. Sellers maintained firm pricing, citing reduced scrap collection during the winter season, while Turkish steel mills exercised caution…
Iron ore futures declined on Friday, weighed down by ongoing concerns about demand and market sentiment High port inventories, reduced steel production, and environmental-related curbs on steel production in some…
Turkish steel producer Kardemir has significantly lowered wire rod prices by USD 35 per ton compared to its November 13, 2024, price list. The updated price for 5.5 mm SAE 1006 grade wire rod is now USD 600 per ton EXW…
Iron ore futures extended their losses on Thursday, weighed down by a bearish demand outlook and declining steel production figures that dampened market sentiment. Crude steel production in China's top ten steelmaking…
Iron ore futures fell on Wednesday, pressured by a bearish outlook for the key steelmaking input. Market sentiment was further dampened by concerns over rising port-side iron ore inventories and weakening steel demand…
Iron ore futures edged up on Tuesday as cautious market sentiment persisted, with weak fundamentals outweighing stimulus hopes. Concerns over higher port-side iron ore inventories and slowing steel demand continued to…
Iron ore futures rose on Monday, buoyed by expectations of policy support from Beijing, even as fundamentals in the steel sector continued to weaken. A senior official from China's central bank announced plans to boost…
Turkey's scrap import prices surged this week, driven by firm domestic rebar demand and limited scrap supply. Prices were assessed at USD 345-350 per ton CFR, up from USD 335-340 per ton CFR last week. A recent accident…
Iron ore futures fell on Friday due to demand uncertainties and the lack of detailed Chinese stimulus measures, which weighed heavily on market sentiment. Adding to the bearish outlook, port-side iron ore inventories…
Iron ore futures recovered on Thursday, as improved steel demand and stimulus hopes supported the key steelmaking raw material. Steel demand in China remained firm, specially from the manufacturing sector, reflected by…
Turkish steelmaker Kardemir has reduced its rebar prices in its latest update. The company is now offering 12-32 mm rebar at TRY 19,850 (USD 570) per ton EXW, down from the previous price of TRY 20,415 (USD 591) per ton…
Iron ore futures fell on Wednesday as a clouded demand outlook dampened market sentiment. Earlier this week, the Politburo signaled a shift in policy, pledging a moderately loose monetary stance and more proactive…
Iron ore futures surged on Tuesday, buoyed by expectations of stronger economic stimulus from Beijing. The Chinese Politburo announced plans for looser monetary policies and proactive fiscal measures to spur economic…
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