Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures fell on Monday as steel production curbs and rising trade frictions dampened market sentiment. According to market sources, Chinese authorities have ordered steel producers in Tangshan, a major steel…
ArcelorMittal South Africa (ArcelorMittal SA) will halt long steel production by the end of the second quarter of 2025 after failing to reach an agreement with the government to prevent the plant's closure. The company…
Turkey's scrap import prices increased this week as local steel mills booked new shipments at higher rates. Prices are now assessed at USD 360-365 per ton CFR, up from USD 350-360 per ton CFR, last week. The upward…
Turkish steelmaker Kardemir has released its latest price list for billet and wire rod. The price of S235JR grade billets has been set at USD 485 per ton EXW, marking a USD 5 per ton decrease from the previous…
Iron ore futures fell on Friday, weighed down by concerns over U.S. tariffs and escalating trade frictions affecting Chinese steel exports. U.S. President Donald Trump announced plans to impose a new 10pct tariff on all…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) reported a substantial increase in net profit for 2024, reaching SAR 9.86 mln (USD 2.62 mln), more than doubling from SAR 4.24 mln in the previous year. Revenue also…
Iron ore futures fell on Thursday as a deteriorating outlook for Chinese steel exports fueled demand concerns. Key markets for Chinese steel, including Vietnam and South Korea, recently announced anti-dumping measures…
Vinton Steel LLC, the U.S. subsidiary of Kyoei Steel, has awarded Tenova a contract to supply a new melt shop at its El Paso, Texas, facility. Tenova, a leader in sustainable solutions for the metals industry, will…
Saudi Iron and Steel Company (Hadeed) has lowered its long steel prices by SAR 50 (USD 13) per ton for March deliveries. The new pricing sets rebar (12-32 mm) at SAR 2,350 (USD 626) per ton, while wire rod (6.5-16 mm)…
EMSTEEL, one of the region's largest publicly traded steel and building materials manufacturers, has launched its Asset Enhancement Programme, a strategic initiative with a capital expenditure of approximately USD 170…
Iron ore futures continued to decline on Wednesday as market sentiment was weighed down by speculation about potential steel production cuts in China. According to several Chinese steel traders, the government is…
Al Jazeera Steel Products Co. reported a 93pct surge in net profit for 2024, reaching OMR 7 mln (USD 18.3 mln), up from OMR 4 mln in 2023, according to its latest financial statement. Revenue rose 3pct YoY to OMR 146.68…
Iron ore futures extended losses on Tuesday as market sentiment remained weak due to anti-dumping duties on Chinese steel imposed by key buyers and a recovery in iron ore supply. Concerns over steel demand resurfaced…
Canada Metal Processing Group (MPG Canada) and its subsidiaries, Ivaco Rolling Mills, Sivaco, and Infasco, have announced cost-cutting measures to address market challenges and potential U.S. tariffs on steel. Amid…
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for March production will remain unchanged. The company's price for rebar deliveries to Abu Dhabi is set at AED 2,660 (USD 724) per ton…
Dalian iron ore futures fell on Monday as growing protectionist measures against Chinese steel dampened market sentiment. Vietnam, the largest market for Chinese HRC, has announced temporary anti-dumping duties on HRC…
Turkey's scrap import prices remained stable this week at USD 350-360 per ton CFR, despite weak steel demand, as restocking by Turkish steel producers provided support. Limited scrap collection during the winter also…
Iron ore futures rose on Friday, driven by recovering steel demand and expectations of further stimulus, boosting market sentiment. Steel demand in China rebounded sharply this week, particularly for rebar, which…
El Marakby Steel, a leading Egyptian manufacturer of deformed bars and wire rod, is enhancing its production capacity and competitiveness by upgrading its SMS minimill at the 6th of October site. In early 2023, SMS…
Iron ore futures surged on Thursday, driven by strong steel demand and improved market sentiment. According to market insiders, domestic steel demand remains robust, particularly in the rebar segment, where trades have…
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