Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iran produced 20.4 mln tons of semi-finished steel from March 20 to November 21, 2024, according to the Iranian Steel Producers Association. This included 13.28 mln tons of billet and bloom and 8.058 mln tons of slab…
Iron ore futures edged up on Tuesday as cautious market sentiment persisted, with weak fundamentals outweighing stimulus hopes. Concerns over higher port-side iron ore inventories and slowing steel demand continued to…
Iron ore futures rose on Monday, buoyed by expectations of policy support from Beijing, even as fundamentals in the steel sector continued to weaken. A senior official from China's central bank announced plans to boost…
The global long steel products market has entered a seasonal lull, with business activity expected to resume only after January 13, according to the International Rebar Producers and Exporters Association (Irepas). Key…
Turkey's scrap import prices surged this week, driven by firm domestic rebar demand and limited scrap supply. Prices were assessed at USD 345-350 per ton CFR, up from USD 335-340 per ton CFR last week. A recent accident…
Colakoglu Metalurji A.S. has placed an order with ABB for an ArcSave electromagnetic stirrer (EMS) to be installed on one of the world's largest electric arc furnaces (EAF). This project marks a significant step forward…
Iron ore futures fell on Friday due to demand uncertainties and the lack of detailed Chinese stimulus measures, which weighed heavily on market sentiment. Adding to the bearish outlook, port-side iron ore inventories…
Emirates Steel, part of EMSTEEL Group, and Modon have signed an MoU establishing Modon as the first developer in the UAE to use low-carbon steel. This collaboration aligns with the UAE's Net-Zero 2050 Strategy, aiming…
Iron ore futures recovered on Thursday, as improved steel demand and stimulus hopes supported the key steelmaking raw material. Steel demand in China remained firm, specially from the manufacturing sector, reflected by…
Turkish steelmaker Kardemir has reduced its rebar prices in its latest update. The company is now offering 12-32 mm rebar at TRY 19,850 (USD 570) per ton EXW, down from the previous price of TRY 20,415 (USD 591) per ton…
Iron ore futures fell on Wednesday as a clouded demand outlook dampened market sentiment. Earlier this week, the Politburo signaled a shift in policy, pledging a moderately loose monetary stance and more proactive…
Xinyu Iron & Steel Co. Ltd. (XISCO), a leading Chinese special steel producer and subsidiary of China Baowu Group, has successfully rolled the first bar using its newly installed KOCKS RSB 370++/4. This advanced…
Turkey's rebar exports fell by 1.6pct YoY to 2.76 mln tons in the first ten months of 2024, according to data from the Turkish Statistical Institute (TUIK). During the January-October period, Yemen was the largest…
Watani Iron Steel Co. (Watani Steel) has renewed a Shariah-compliant bank facility agreement worth SAR 70.5 mln (USD 18.7 mln) with Bank Albilad, according to a stock exchange filing. The financing, backed by a…
Iron ore futures surged on Tuesday, buoyed by expectations of stronger economic stimulus from Beijing. The Chinese Politburo announced plans for looser monetary policies and proactive fiscal measures to spur economic…
Turkey's wire rod exports totaled approximately 766,000 tons in the first ten months of 2024, marking a significant 47pct YoY increase, according to the Turkish Statistical Institute (TUIK). Romania was the largest…
Iron ore futures rose on Friday as Beijing's commitment to stronger economic support in 2025 bolstered market sentiment. The Chinese Politburo announced plans for looser monetary policy and more proactive fiscal…
Turkey's scrap import prices remained steady this week, assessed at USD 335-340 per ton CFR, as subdued buying activity reflected a stalemate between buyers and sellers. Turkish steel mills lowered their bids due to…
Iron ore futures fell on Friday as concerns over weak steel demand continued to pressure the steelmaking raw material market. Iron ore futures posted gains earlier this week supported by short-term demand as steel…
Conares, the UAE's second-largest private steel manufacturer, has obtained the AFCAB conformity certification from France for its rebar products, the company announced. "Achieving AFCAB conformity for our rebars enables…
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