Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Romania's ArcelorMittal Hunedoara has announced a temporary suspension of operations until March 31, 2025, citing rising energy prices and economic difficulties, according to local media reports. In response to these…
MMK Trading House has begun a major upgrade of its warehouse site in Magnitogorsk to enhance efficiency and improve customer service. The facility supports prompt deliveries from an inventory of over 10,000 steel…
Turkish steelmaker Kardemir has lowered its rebar and wire rod prices in response to weak domestic steel demand. The company now offers 12-32 mm rebar at TRY 19,875 (USD 548) per ton EXW, down from TRY 20,415 (USD 567)…
Turkey's wire rod exports reached 919,900 tons in 2024, up 27pct YoY, according to the Turkish Statistical Institute (TUIK). Romania was the largest buyer, importing around 310,500 tons, followed by Bulgaria with 81,650…
Iron ore futures extended gains on Wednesday, driven by cautious optimism over improving steel demand and expectations of stimulus measures. China's iron ore imports are expected to be impacted by recent supply…
Turkey's Kardemir has ordered a five-strand combi-continuous caster from SMS Concast, a subsidiary of SMS group, to upgrade production at its Karabuk steel plant. The new facility is set to begin operations by late…
Iron ore futures rebounded on Tuesday as improving steel demand lifted market sentiment. Industry insiders noted a pickup in downstream steel consumption this week, providing further support to iron ore prices. Adding…
South Korean special steel producer Seah Besteel is intensifying its global market expansion by developing specialized steel wire rod materials for the energy sector. The company recently announced the successful…
Turkey's leading steel producer, Erdemir Group, reported a net profit of TRY 14.19 bln (USD 391.6 mln) in 2024, more than tripling from TRY 4.32 bln in 2023. Sales revenue also saw strong growth, rising to TRY 204 bln…
EMSTEEL, one of the GCC's largest publicly traded steel and building materials manufacturers, has announced a decarbonization strategy targeting a 40 pct reduction in greenhouse gas emissions in its Steel Business Unit…
Iron ore futures fell on Monday as supply concerns eased following the reopening of Western Australia's Port Hedland, the world's largest iron ore hub. The port resumed operations after Tropical Cyclone Zelia passed…
Turkey's scrap import prices rose further this week, but the increase dampened buying interest from local steel mills due to weak demand for finished steel. Scrap prices were assessed at USD 350-360 per ton CFR, up from…
Dalian iron ore futures continued to decline on Friday as weak steel demand and escalating trade tensions weighed on market sentiment. Steel consumption in China remained sluggish after the Lunar New Year holidays…
Iron ore futures fell on Wednesday as escalating trade tensions and concerns over excess steel supply weighed on market sentiment, despite supply disruptions in Australia. The White House announced that President Donald…
UAE-based EMSTEEL, one of the region's largest publicly traded steel and building materials manufacturers, has announced its preliminary (unaudited) financial results for 2024. The company reported revenues of AED 8.3…
Turkey's rebar exports reached 3.43 mln tons in 2024, remaining largely stable compared to 3.39 mln tons in 2023, according to data from the Turkish Statistical Institute (TUIK). Yemen was the top importer of Turkish…
Iron ore futures recovered on Wednesday as supply concerns resurfaced, lifting commodity markets after a sharp decline triggered by former U.S. President Donald Trump's announcement of tariffs on steel and aluminum…
Qatar Steel and Bahrain Steel have signed a USD 1.266 bln agreement to supply five mln tons of steelmaking raw materials over five years, Qatar's Ministry of Commerce and Industry announced. The partnership ensures a…
Iron ore futures reversed earlier gains and declined on Tuesday as demand concerns grew following new steel tariffs announced by U.S. President Trump. Futures had risen in the morning session due to supply disruptions…
The global long steel products market faces significant pressure due to rising Chinese exports, which show no signs of slowing. The latest outlook from the International Rebar Producers and Exporters Association…
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