Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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China's iron ore futures recorded a decline on Thursday due to concerns over demand. This was primarily triggered by environmental output restrictions and reports indicating that major steel mills were instructed to…
According to the latest data from the World Steel Association, the Middle East witnessed a 3pct growth in crude steel production during the first half of 2023, reaching a total of 23 mln tons compared to the same period…
China's iron ore futures continued their upward trajectory on Wednesday, driven by expectations of economic stimulus measures from the Chinese government. In response to signs of a cyclical slowdown, the ruling…
Turkey's major steel producer, Kardemir has kept steel sections prices unchanged, according to the company's new price list. The price range for IPE-NPU (160-550 mm) remains at USD 700-820 per ton EXW, while the price…
Khalifa Economic Zones Abu Dhabi (KEZAD) Group and Al Jazeera Steel Products have begun the construction of a new rolling mill in Abu Dhabi, with an investment of AED 250 million (USD 68 mln). Spanning an expansive area…
China's iron ore and steel futures posted gains on Tuesday following a meeting led by President Xi Jinping, during which the country's leaders pledged to introduce new measures to bolster the faltering economy. The…
Turkish steel producer, Kardemir has reduced wire rod prices, according to its latest price list. The company has revised the price of its 5.5 mm SAE 1006 grade wire rod to USD 600 per ton EXW, indicating a decrease…
UAE’s Emirates Steel Arkan (ESA) has announced that it will keep rebar prices unchanged for August production. The company will continue offering rebar at AED 2,450 (USD 667) per ton CPT Abu Dhabi and AED 2,458 (USD…
Dalian iron ore futures faced downward pressure on Monday due to concerns over repayment issues at two major developers in China, which further deepened the crisis in the property sector. Country Garden and Dalian…
Turkey's scrap import prices witnessed a significant decline as buyers secured cargoes at lower prices. Scrap import offers for the Turkish market now stand at about USD 355 per ton CFR, marking a decrease of USD 10-15…
Iron ore futures posted gains on Thursday amid expectations of further stimulus measures by the Chinese government to bolster the struggling economy. Deputy head of the state economic planner, Li Chunlin, announced that…
Turkish steel producer, Kardemir has announced new rebar prices, according to its latest price list. The company has implemented a price reduction for rebar sizes ranging from 12-32 mm, setting the new rate at TRY…
Dalian coking coal futures increased sharply on Wednesday following the disclosure of fatal accidents at coal mines in Shanxi and Liaoning provinces. These incidents have sparked concerns over the potential impact on…
Iron ore futures experienced a recovery on Tuesday, buoyed by market optimism regarding potential stimulus measures from the Chinese government to revitalize the sluggish economy. China's economic recovery showed signs…
Turkish exports of HR steel (coils/sheets/plates) witnessed a significant growth of 56pct in May 2023 compared to April 2023, according to data released by the Turkish Statistical Institute (TUIK). During May, Turkish…
Iron ore futures experienced a decline on Monday due to disappointing Chinese economic data, which dampened market sentiments. According to the National Bureau of Statistics (NBS), China's gross domestic product (GDP)…
Turkey's scrap import prices continue to face downward pressure as the demand for finished steel remains lackluster. Scrap import offers for the Turkish market are in the range of USD 365-370 per ton CFR, representing a…
Iron ore futures continued their upward trajectory on Friday, supported by expectations of additional stimulus measures. China's post-pandemic recovery has significantly slowed after a strong start in the first quarter…
Turkey's major steel producer, Kardemir has decreased steel sections prices, according to the company's new price list. The company's latest price range for IPE-NPU (160-550 mm) now stands at USD 700-820 per ton EXW…
Iron ore prices continued to climb on Thursday, bolstered by expectations of additional stimulus measures and dwindling inventory levels at Chinese ports. However, concerns over weakening export data dampened demand…
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