Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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EMSTEEL, the UAE's leading steel and building materials manufacturer, has announced that Saeed Al Ghafri, CEO of its steel division, Emirates Steel, will step down after 19 years with the company. He will continue in…
Austrian steelmaker Marienhutte will upgrade its bar production line in Graz using Danieli's newly patented Twin Drum technology. The revamp, covering the largest part of the finishing area, will replace the existing…
Turkey's scrap import prices remained stable this week, signaling that the market may have finally bottomed out, despite sluggish purchasing activity from local steel mills. Current scrap import prices are assessed at…
Turkish steel producer Kardemir has announced a new sales round for billet and wire rod, featuring reduced prices, according to its latest price list. Billet prices have been cut by USD 15 per ton compared to previous…
Izmir Demir Celik Sanayi A.S. (IDC), a leading Turkish producer of reinforcing steel and profiles, has significantly expanded its steel production capabilities with the installation of a Concast seven-strand continuous…
Amreli Steels, one of Pakistan's leading steel manufacturers, reported a significant increase in losses for the first nine months of fiscal year 2025, ending March 31. The company posted a net loss of PKR 2.85 bln (USD…
The Saudi Iron and Steel Company (Hadeed) has released its new long steel prices for May deliveries. The company reduced rebar prices by SAR 70 (USD 19) per ton, bringing the new price to SAR 2,280 (USD 607) per ton. In…
Pakistan's Mughal Iron and Steel Industries Limited (Mughal Steel) reported a consolidated profit of PKR 412.39 mln (USD 1.46 mln) for the nine-month period ending March 31, 2025, a sharp 70.3pct YoY decline, according…
Iron ore futures declined on Wednesday, pressured by mounting concerns over long-term demand. The market faces several headwinds, including the potential for steel production cuts, hinted at by Baosteel earlier this…
Iron ore futures edged higher on Tuesday, supported by near-term demand, though gains were capped by ongoing concerns over long-term consumption. Pre-holiday restocking ahead of the May holidays and increased steel…
Iron ore futures prices fell on Monday as concerns over potential steel production cuts weighed on market sentiment. The decline followed comments from major steel producer Baosteel, which suggested that a nationwide…
The downward trend in Turkish scrap import prices continued this week, driven by increased availability of scrap cargoes and a cautious buying approach from Turkish steel mills, amid sluggish demand for finished steel…
Turkish steelmaker Kardemir has reduced its rebar prices, according to the company's latest price list. The new price for 12-32 mm rebar is set at TRY 20,700 (USD 540) per ton ex-works, down from TRY 21,165 (USD 556)…
Iron ore futures declined on Friday, pressured by persistent concerns over long-term demand, even as near-term buying interest remained solid. The iron ore and steel markets faced headwinds throughout the week due to…
Iron ore futures declined on Thursday, as market sentiment remained cautious despite steady short-term demand ahead of the Labour Day holidays. A rebound in iron ore supplies from major miners added pressure to prices…
The Thai Industry Ministry has proposed scrapping the certification standard for steel produced using induction furnaces (IF), citing environmental and quality concerns. Industry Minister Akanat Promphan said IF…
Omani steel manufacturer Al Jazeera Steel Products Co. SAOG posted a 16pct YoY increase in net profit for the first quarter of 2025, according to its unaudited financial results. Net profit rose to OMR 2.1 mln (USD 5.44…
Iron ore futures jumped on Tuesday, driven by optimism around easing U.S.-China trade tensions and robust near-term demand, which boosted market sentiment. U.S. President Trump signaled a potential softening in the…
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for May production will remain unchanged for the fourth consecutive month. The company has set the rebar price at AED 2,660 (USD 724)…
Iron ore futures posted modest gains on Tuesday, supported by near-term demand, even as market sentiment remained cautious due to a rise in protectionist measures targeting Chinese steel exports. India recently imposed…
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