Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Turkish steel producer Kardemir has announced new prices for rebar, according to its latest price list. The company is now offering rebar in sizes ranging from 12 to 32 mm at TRY 19,455 (USD 590) per ton, up from the…
Iron ore futures extended gains on Wednesday, buoyed by hopes of stimulus measures for the troubled property sector. However, demand concerns persist due to high portside inventory and a seasonal slowdown in steel…
Pakistan's scrap imports surged by 50pct YoY in June 2024, according to the Pakistan Bureau of Statistics. The country imported a total of 250,734 tons of scrap during the month, compared to 167,075 tons in the same…
Iron ore futures plunged on Monday as the traditional slowdown in steel demand, weighing on market sentiments. Despite a recent weekly drop, mounting iron ore inventory at Chinese ports continues to pressure iron ore…
Turkey's scrap import prices remained stable as Turkish steel mills paused buying activity due to the Eid holidays. Scrap import prices in Turkey are assessed at USD 379-382 per ton CFR. Demand for Turkish finished…
Iron ore futures fell on Friday as market sentiments remained negative due to potential steel output curbs and a slowdown in steel demand, which continued to pressure the futures market. Other raw material and steel…
Turkish steel manufacturer Kardemir has announced its sales allocation plan for the period from July to September 2024. The company has increased allocations for billet, rebar, and profiles compared to the previous…
Iron ore futures remained under pressure on Thursday as market sentiments stayed pessimistic. The increasing inventory at Chinese ports and potential output curbs continue to cast a bearish outlook on iron ore demand…
Iron ore futures fell on Wednesday due to weak fundamentals impacting market sentiment. The decline is attributed to several factors: low steel mill margins, increasing portside inventory, a slowdown in steel demand…
Turkey's scrap import prices remained stable ahead of the upcoming Eid holidays, despite sluggish demand for finished steel. Currently, scrap import prices in Turkey are assessed at USD 379-382 per ton CFR. The rise in…
Iron ore futures extended their gains on Friday, buoyed by increased steel output, though the demand outlook remained bleak due to weak fundamentals. According to the China Iron and Steel Association (CISA), member…
Oman's Vulcan Steel and Volkswagen AG have signed a Memorandum of Understanding (MoU) to partner on producing low-carbon steel, a key element of Volkswagen’s green steel strategy. This partnership will see up to 300,000…
Iron ore futures prices posted gains on Thursday, supported by a pledge from China's central bank to support the country’s struggling property sector. However, the demand outlook remained bearish due to weak…
The Canada Border Services Agency (CBSA) has announced the preliminary determination of its antidumping duty investigation against wire rod imports from Egypt, China, and Vietnam. Focusing on Egypt, the Canadian…
Iron ore futures extended losses on Wednesday, as market sentiments remained negative despite improved economic data. China's factory price deflation eased slightly, and the consumer price index increased marginally…
Turkish steel exports to the Gulf Cooperation Council (GCC) countries showed varying trends in H1 2023. The total Turkish steel exports to the region amounted to 73,859 tons during this period. in June, there was a…
Iron ore futures grew slightly on Monday, as market participants held onto hopes that stimulus measures would be implemented to revive faltering economic growth. However, the government's emphasis on restricting steel…
Turkey's scrap import prices experience further decline as steel demand remains subdued. Scrap import offers for the Turkish market are in the range of USD 345-350 per ton CFR, reflecting a decrease of USD 5-10 per ton…
Iron ore futures continue to slide as the government's move to limit steel output raises demand concerns. According to reports, major steel mills have been directed to restrict their output, curbing any potential…
In May 2023, Turkey's wire rod exports faced a significant decline of over 62pct YoY, with the total volume amounted to 39,533 tons, as reported by the Turkish Statistical Institute (TUIK). Despite this overall…
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