Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Oman's Al Jazeera Steel Products Co. reported significant profit growth for the first nine months of 2024, with profit reaching OMR 3.9 mln (USD 10.1 mln), a 62pct increase YoY, driven by strong construction demand in…
Iron ore futures fell on Thursday as the market remained cautious amid a mixed demand outlook. However, hopes for further stimulus and strong manufacturing data helped limit losses. High iron ore port inventories and…
Iron ore futures posted slight gains on Wednesday, as optimism over potential stimulus from Beijing helped offset steel demand concerns. Confidence in additional fiscal stimulus grew after a Reuters report spurred price…
Iron ore futures fell on Tuesday, as rising inventory levels and weak steel demand weighed on market sentiment. Increasing iron ore supplies from major miners, combined with already elevated port inventories, have put…
Saudi Iron and Steel Company (Hadeed) is raising its long steel prices for November deliveries. The company's rebar (12-32 mm) price will increase by SAR 50 (USD 13) per ton, bringing it to SAR 2,350 (USD 625) per ton…
Iron ore futures rose on Monday as renewed expectations of further stimulus from Beijing helped offset concerns about steel demand. According to the National Bureau of Statistics, China's industrial profits fell sharply…
Turkey's scrap import prices declined this week amid a cautious market mood, with scrap buying activity limited by weak demand for finished steel. Scrap import prices are now assessed at USD 360-365 per ton CFR, down…
Iron ore futures recovered on Friday, supported by improved production figures, though concerns over steel demand persist. Daily crude steel output among China Iron & Steel Association (CISA) member mills for…
UAE's EMSTEEL, formerly Emirates Steel Arkan, has raised its rebar prices for November production. The company is now offering rebar at AED 2,560 (USD 697) per ton, CPT Abu Dhabi, and AED 2,568 (USD 699) per ton, CPT…
Turkish steel producer Kardemir has reduced its billet prices by USD 15 per ton, according to the latest price list. The updated price for S235JR grade billets is USD 535 per ton EXW, while B420 grade billets are set at…
Omani steel producer Al Jazeera Steel Products Co. SAOG reported a substantial 62pct YoY increase in net profit for the first nine months of 2024, according to its unaudited financial statement. The company's net profit…
Iron ore futures edged lower on Thursday as concerns over weakening steel demand weighed on the outlook for iron ore. Domestic steel demand is softening, and the upcoming winter season, which typically slows…
Turkish steel producer Kardemir has lowered prices for rebar and wire rod in its latest price list. The company is now offering rebar (12-32 mm) at TRY 21,455 (USD 626) per ton EXW, down from TRY 22,000 (USD 642) per…
Iron ore futures extended losses on Wednesday as weakening fundamentals and lower forecasts for China's economic recovery weighed on market sentiment. Shrinking margins for steel mills may lead to reduced output, with…
Iron ore futures declined on Tuesday as lower steel production and weakening demand dampened market sentiment. In September 2024, China's crude steel output in key steelmaking regions dropped nearly 7pct YoY to 54 mln…
Iron ore futures rose on Monday, supported by Beijing's latest interest rate cut despite ongoing concerns about softening steel demand. China reduced its benchmark lending rates after the central bank lowered interest…
Turkey's scrap import prices fell this week due to weakening demand for Turkish finished steel. Scrap import prices are now assessed at USD 365-370 per ton CFR, down from USD 385-390 per ton CFR last week. Last week's…
Dalian iron ore futures fell on Friday, as weaker-than-expected economic data and reduced steel production dampened market sentiment. China's economy grew by 4.6pct YoY in Q3, according to official data, but this was…
Steelmaking raw materials and steel futures tumbled on Thursday after the latest stimulus measures targeting China's struggling property sector failed to meet market expectations. Beijing announced plans to nearly…
Iron ore futures declined on Wednesday as the market grew cautious due to rising iron ore supplies from major miners and uncertainty in demand. Both Rio Tinto and Vale reported higher production and shipments in Q3, and…
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