Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures extended gains for a third consecutive session on Thursday, driven by China's pledge for additional stimulus, which restored confidence just as the effects of the latest monetary easing measures began…
Turkish steelmaker Kardemir has announced its sales allocation plan for October to December 2024. The company has reduced allocations for billets, wire rods, and profiles compared to the previous quarter, while keeping…
Iron ore futures extended gains on Wednesday as Beijing's recent stimulus measures fueled optimism for steel demand. Following Tuesday's broad policy easing, the Chinese central bank cut medium-term lending rates to…
Crude steel production in the Middle East rose by 3pct YoY to 35.5 mln tons during the first eight months of 2024, according to the World Steel Association. However, in August 2024, the region saw a 3.2pct YoY decline…
Iron ore futures surged on Tuesday following Beijing's announcement of monetary stimulus aimed at supporting the economy. China's central bank introduced several policy measures, including a cut to the reserve…
UAE's EMSTEEL, formerly known as Emirates Steel Arkan, has maintained its rebar prices for October production. The company's rebar prices remain unchanged at AED 2,447.25 (USD 666) per ton CPT Abu Dhabi and AED 2,456.25…
Iron ore futures tumbled on Monday as market sentiment weakened due to the absence of new stimulus measures from Beijing. Despite expectations of a rate cut to bolster the economy, the Chinese central bank kept the…
Turkey's scrap import prices declined this week as Turkish steel mills booked several European-origin scrap cargoes at lower prices. Scrap import prices were assessed at USD 360-365 per ton CFR, down from USD 370 per…
Iron ore futures edged higher on Friday but relinquished some gains by session's end after Beijing maintained its benchmark lending rates. The Chinese central bank maintained the one-year loan prime rate at 3.35pct and…
Turkish steel producer Kardemir has raised its rebar and wire rod prices in the latest sales round, according to the company's updated price list. Rebar in sizes ranging from 12 to 32 mm is now offered at TRY 20,460…
Iron ore futures gained on Thursday, driven by stimulus hopes despite ongoing demand concerns. The optimism was fueled by the US central bank's decision to cut interest rates for the first time in over four years…
Iron ore futures plunged on Wednesday following the post-holiday resumption of trading, driven by cautious market sentiment surrounding demand prospects. Chinese commodity markets were closed earlier in the week due to…
Turkey's scrap import prices remained stable this week as buyers evaluated the market in light of cheaper billet offers from China. Scrap prices were assessed at USD 370 per ton CFR, unchanged from the previous week…
Iron ore futures declined on Friday but recorded weekly gains as mills increased production to capitalize on improved steel demand. The reduction in steel inventories at major Chinese warehouses, signaling stronger…
Iron ore futures rose on Thursday, driven by pre-holiday restocking activity, which lifted market sentiment. Steel inventories at major Chinese warehouses continued to decline ahead of the Mid-Autumn Festival holidays…
Turkish steel producer Kardemir has lowered its billet prices, as per the latest price list. The company's S235JR grade billets are now offered at USD 530 per ton EXW, and B420 grade billets at USD 545 per ton EXW…
Iron ore futures rose on Wednesday, supported by improving steel demand, which boosted market sentiment. Major steel producers, Baosteel and Shagang, kept domestic prices for long and flat steel products unchanged, a…
Iron ore futures dipped slightly on Tuesday after giving up earlier gains, as the market remained cautious about steel demand recovery. Typically, the peak steel consumption months of September and October support…
Iron ore futures rose on Monday, driven by improved steel demand and renewed hopes for stimulus following China's tepid economic data, despite long-term concerns over demand for key steelmaking raw materials. Steel…
Turkey's scrap import prices rose this week as mills booked cargoes at higher rates, though a sharp decline in Chinese prices dampened market sentiment toward the end of the week, potentially limiting further price…
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