Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Turkish steel producer Kardemir has significantly lowered wire rod prices by USD 10 per ton compared to its price list on December 19, 2024. The updated price for 5.5 mm SAE 1006 grade wire rod is now USD 590 per ton…
Iron ore futures edged higher on Friday as the market remained cautious amid slowing demand, despite the recent stimulus measures announced by Beijing. The iron ore market continues to face challenges due to high port…
Italian steelmaker Acciaierie Venete has once again partnered with Danieli Centro Maskin, ordering a second straightening line for its Padova Works. This new, fully automated line is designed for high productivity…
Turkey's wire rod exports reached 792,635 tons in Jan-Nov 2024, marking a 29.5pct increase YoY, according to data from the Turkish Statistical Institute (TUIK). During this period, Romania was the top destination for…
Iron ore futures rebounded on Thursday as the market weighed recent stimulus measures from Beijing, despite ongoing concerns about steel demand. According to an official policy document, China has broadened the scope of…
Nippon Steel has launched operations at a new high-speed roughing mill with shiftable roughing stands at its Kamaishi special steel plant, producing high-quality wire rod. The tailor-made roughing mill, now operational…
Turkey exported around 3.1 mln tons of rebar in the first eleven months of 2024, a slight decrease of 0.5pct compared to the same period last year, according to the Turkish Statistical Institute (TUIK). During…
Dalian iron ore futures fell for the fourth consecutive session on Wednesday, as the latest stimulus measures from Beijing failed to boost market sentiment. According to a Reuters report, an official policy document…
Pakistan's rebar producer, Dost Steels Limited (DSL), has been unable to resume commercial operations this year due to insufficient working capital, according to a stock exchange filing. Despite ongoing efforts…
Iron ore futures continued their downward trend on Tuesday, weighed down by persistent concerns over demand. The market faced headwinds from higher port-side inventories and weak steel demand. Additionally, the absence…
Iron ore futures fell on Monday, weighed down by weak fundamentals that continued to dampen market sentiment. The declining steel output due to weak demand and higher port-side iron ore inventories have kept the demand…
ArcelorMittal South Africa Ltd. (ArcelorMittal SA) will shut down its long-steel products business after months of consultations with the government failed to prevent job losses. In October 2024, the company warned…
Turkey's scrap import prices held steady this week at USD 345-350 per ton CFR, reflecting muted buying activity due to sluggish steel demand. Turkish steel mills maintained a cautious stance, refraining from making…
Iron ore futures fell on Friday as reduced steel production and sluggish steel demand dampened market sentiment. Higher port-side iron ore inventories and persistent challenges in the property sector, a key steel…
Iron ore futures gained ground on Thursday in post-New Year holiday trading, buoyed by expectations of steady near-term demand. Chinese steel mills are likely to accelerate restocking their iron ore inventories ahead of…
Saudi Iron and Steel Company (Hadeed) has kept its long steel prices unchanged for January deliveries. The price of rebar (12-32 mm) remains at SAR 2,400 (USD 639) per ton, while wire rod (6.5-16 mm) holds steady at SAR…
Iron ore futures surged on Tuesday, buoyed by improved market sentiment, yet they recorded a significant yearly decline attributed to ongoing economic challenges and weak market fundamentals. Optimism followed Chinese…
Turkish steelmaker Kardemir Celik (Kar-Demir) has reduced energy consumption in billet production by 15-30pct using the Furnace Energy Saving System & Continuous Charging (FESCON) technology at its Aliaga meltshop…
Iron ore futures recorded gains on Monday, but the demand outlook remains uncertain due to weakening steel demand. Steel consumption typically slows during the winter months as downstream activities, particularly…
Metinvest Group's steelmaking facilities in Ukraine introduced 20 new products in 2024, including six developed in collaboration with the Zaporizhstal joint venture. The majority of these products were in the long…
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