Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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South Korea's Dongkuk Steel Mill has announced a temporary suspension of operations at its Incheon plant, citing ongoing weak demand and efforts to stabilize rebar supply. Production at both the rolling mill and…
Turkey's scrap import market increased this week, as suppliers pushed for increased prices despite resistance from Turkish mills. Current scrap import offers are assessed at USD 340-350 per ton CFR, compared with USD…
Micropolis, a UAE-based robotics manufacturer, has signed a Memorandum of Understanding with Emirates Steel, part of the EMSTEEL Group, a leading local producer of steel and construction materials. The agreement marks…
Iron ore futures declined on Friday, weighed down by softening steel demand and cautious market sentiment. The seasonal slowdown in steel consumption, typical during the summer months, has led to a slower pace of…
Al Masaood Energy is producing third-generation solar systems in the UAE, with a strong focus on reducing carbon emissions in the oil and gas sector. The system is 80pct locally sourced, with key steel components…
Dalian iron ore futures rose slightly on Thursday, supported by firm near-term demand. However, gains were limited due to ongoing uncertainty surrounding long-term demand prospects. Steel production remained elevated…
Iron ore futures inched higher on Wednesday, though market sentiment remained subdued due to a cautious demand outlook. Near-term demand provided some support, as stable profitability encouraged steel mills to maintain…
EMSTEEL, one of the region's largest publicly traded steel and building materials manufacturers, has signed a memorandum of understanding with Aldar to supply hydrogen-based steel rebar, marking a regional first in…
Pakistani rebar producer Dost Steels Limited has finalized a loan restructuring agreement with a consortium of banks to reschedule outstanding debt of PKR 2.08 bln (USD 7.35 mln), including future markup, according to a…
Iron ore futures saw a modest uptick on Tuesday, supported by firm near-term demand, though broader market gains were limited by long-term economic concerns. Despite a month-on-month dip in steel production for April…
Fives has completed its first PREMIX oxygen enrichment project on a billet reheating furnace at SN Maia Siderurgia Nacional in Maia, Portugal, the Megasa Group's largest rebar production facility. SN Maia sought to cut…
Iron ore futures declined on Monday, pressured by weak economic indicators from China that raised concerns over demand. China's economy showed signs of losing momentum in April amid ongoing trade tensions with the U.S…
Tokyo Steel, Japan's leading electric arc furnace (EAF) steelmaker, has announced it will keep its product prices unchanged for June, reflecting ongoing global and domestic market challenges. The company's HRC prices…
Malaysia Steel Works (KL) Bhd (Masteel) has signed a Memorandum of Understanding (MoU) with Ace Gases Marketing Sdn. Bhd., a subsidiary of Kelington Group Berhad, and Universiti Tunku Abdul Rahman (UTAR) to advance…
Turkey's scrap import market extended its upward trend this week, supported by a series of new bookings at higher price levels. Current import prices are assessed at USD 340-345 per ton CFR, up from USD 335-340 per ton…
Watani Iron Steel Co. (Watani Steel) reported a net profit of SAR 2.9 mln (USD 0.77 mln) for the first quarter of 2025, down 42pct from SAR 4.9 mln in the same period last year. Sales revenue declined 17.8pct YoY to SAR…
Iron ore futures slipped on Friday as cautious demand outlook weighed on market sentiment. Earlier in the week, commodity markets had rallied, supported by easing tensions between Beijing and Washington. A decline in…
UAE-based EMSTEEL, one of the region's leading publicly traded steel and building materials manufacturers, has announced its financial results for Q1 2025. The group reported revenue of AED 2.155 bln, up slightly from…
Iron ore futures posted gains on Thursday, supported by a positive near-term demand outlook following a major easing in trade tensions between the United States and China. However, lingering concerns over long-term…
Turkish steelmaker Kardemir has increased prices for its long steel products, according to the company's latest price list. The new price for 12-32 mm rebar is set at TRY 21,550 per ton EXW (USD 555), up from TRY 21,000…
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