Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Turkey's Kardemir Celik Sanayi reported a 26.3pct YoY increase in sales revenue to TRY 13.92 bln (USD 290 mln) in the first half of 2026, while net profit fell 52pct to TRY 410.4 mln (USD 8.6 mln). The company's cost of…
China's iron ore futures edged lower on Tuesday as firm cost support failed to offset weaker iron ore fundamentals and cautious buying from steel mills. On the raw material side, coking coal remains firm, with tight…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) has renewed a Sharia-compliant SAR 25 mln (USD 6.7 mln) banking facility with Alinma Bank to finance working capital. The short-term facility runs from August 23…
Iron ore futures strengthened on Monday as firmer steel and raw material prices improved market sentiment, although rising iron ore supply and weak underlying steel demand remained concerns. The market has shifted…
Turkey's imported scrap prices remained range-bound this week, with Turkish steel mills showing limited buying interest amid weak finished steel demand and cautious purchasing. MESTEEL assessed HMS 1&2 (80:20) at USD…
Iron ore futures were broadly stable on Friday as near-term supply concerns provided some support, while weak steel demand and squeezed mill margins continued to limit the upside. Iron ore inventories fell recently on…
Turkish steel producer Kardemir has raised its domestic wire rod prices, according to the company's latest price list. The company is offering 5.5 mm SAE 1006 grade wire rod at USD 620 per ton EXW, while SAE 1008-1010…
Iron ore futures fell on Thursday as weak steel demand outweighed support from firmer coke and coking coal prices. Crude steel production among China Iron and Steel Association (CISA) member mills fell 3.4pct YoY to 473…
South Korea's Hyundai Steel has signed an MoU with construction project management company HanmiGlobal to expand the use of steel structures in advanced industrial facilities, including data centres and semiconductor…
Chinese steel exports to GCC countries declined by 18pct YoY to 4.54 mln tons during the first half of 2026 from 5.54 mln tons a year earlier, according to MEsteel analysis of Chinese customs data covering steel…
Turkey's Izmir Demir Celik reported a consolidated net loss of TRY 529.4 mln (USD 11.1 mln) in January-June 2026, narrowing from TRY 949.3 mln a year earlier, despite weaker revenue and a sharp deterioration in…
Iron ore futures edged higher on Wednesday, supported by firmer coking coal and coke prices, although tight steel mill margins and weak underlying demand continued to limit the upside. Coking coal and coke markets…
Qatar Steel, the steel subsidiary of Industries Qatar, reported a 39pct YoY increase in net profit to QAR 367 mln (USD 100.8 mln) in H1 2026, supported by higher average selling prices and lower operating costs despite…
Egyptian steel mills are sharply reducing production as weak sales weigh on the domestic market, with some plants temporarily suspending operations, according to local media reports. Hassan El-Marakby, chairman of El…
Iron ore futures rebounded on Tuesday, supported by supply concerns and renewed expectations of further stimulus from Beijing, although weak downstream steel demand remained a key constraint on the market. The strike at…
Indian steelmakers could gain access to a new export market in Uzbekistan after the Indian Steel Association (ISA) signed a bilateral MoU with the Uzbekistan Metallurgy Association to strengthen cooperation between the…
Mexico's TYASA has completed the start-up of its new 350,000 tons per year special bar quality (SBQ) plant in Ixtaczoquitlan, Orizaba, with the Danieli-supplied complex now in operation. The new complex includes a…
Steel import sourcing shifted towards regional suppliers during the second quarter of 2026, as geopolitical tensions and disruptions to maritime logistics altered supply patterns across the Gulf. Imports of…
Iron ore futures weakened on Monday as high port inventories and weaker Chinese economic data offset improving steel market sentiment and stronger coking coal prices. Chinese steel traders said finished steel…
Turkey's imported scrap market saw some trading activity this week, but Turkish steel mills remained cautious amid weak finished steel demand and limited margins. MESTEEL assessed HMS 1&2 (80:20) at USD 375 per ton CFR…
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