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 Friday as weak demand fundamentals weighed on the market, with China announcing new stimulus measures after the morning session closed. Beijing introduced a USD 1.4 trillion debt package aimed…
India's steel imports from April to September were led by China, with the country remaining a net importer, according to provisional government data, Reuters reported. India imported 4.7 mln tons of finished steel…
Turkey exported 2.5 mln tons of rebar in the first nine months of 2024, marking a 1pct YoY increase, according to the Turkish Statistical Institute (TUIK). Yemen was the leading destination for Turkish rebar during this…
Iron ore futures rose on Thursday as the market continued to hope for additional stimulus to address demand concerns. This week, traders have been looking to Beijing for possible economic support measures, with the…
Turkish steel producer Kardemir has reduced its rebar prices in the latest pricing update. The company is now offering 12-32 mm rebar at TRY 20,920 (USD 609) per ton EXW, down from TRY 21,455 (USD 626) per ton EXW set…
Egypt's rebar production grew by 11.3pct YoY to 6.403 mln tons in the first nine months of 2024, according to a local news report. Rebar sales in the local market also rose by 3pct YoY during January-September, reaching…
Iron ore futures fell on Wednesday as demand outlook remained uncertain, despite hopes for additional stimulus measures. Rising iron ore inventories, increased imports from major miners, weak margins at steel mills, and…
SteelAsia Manufacturing Corporation, a major steel producer in the Philippines, recently shipped 14,200 tons of high-strength rebar valued at USD 8.8 mln to Canada from its Davao mill. This marks the first time that…
Italian steel producer Feralpi Siderurgica, part of the Feralpi Group, has granted the final acceptance certificate (FAC) to Primetals Technologies for the successful revamp of its 6-strand billet caster at the Lonato…
National Metal Manufacturing and Casting Co. (Maadaniyah) reported a wider net loss of SAR 28.12 mln (USD 7.48 mln) in the first nine months of 2024, up from a loss of SAR 18.42 mln in the same period last year. The…
Iron ore futures rose on Tuesday, supported by optimism for additional stimulus measures from Beijing, though demand concerns continued to weigh on the market. Chinese Premier Li Qiang expressed confidence in meeting…
Shyam Metalics and Energy Ltd. (SMEL), an Indian steel producer, has officially launched a new blast furnace and sinter plant at its Jamuria facility, as announced in a stock exchange filing. The project, which involved…
Turkey's crude steel production rose by 14pct YoY to 27.9 mln tons in the first nine months of 2024, according to the Turkish Steel Producers' Association (TCUD). In September alone, production grew 6.5pct YoY to 3.1…
Iron ore futures gained on Monday, reversing earlier losses as renewed hopes for economic stimulus offset concerns about weak demand. The Standing Committee of China's National People's Congress (NPC) is meeting from…
Turkey's scrap import prices have fluctuated within a limited range this week, reflecting a slight decline. Current prices are assessed at USD 355-365 per ton CFR, down from USD 360-365 per ton CFR last week. The…
UAE's EMSTEEL, one of the region's largest publicly traded steel and building materials manufacturers, announced its financial results for the first nine months of 2024. The group reported revenues of AED 5.87 bln (USD…
Iron ore futures declined on Friday amid a clouded demand outlook, despite encouraging private PMI data and expectations for further economic stimulus. Rising port-side iron ore inventories and seasonal slowdown in…
Oman's Al Jazeera Steel Products Co. reported significant profit growth for the first nine months of 2024, with profit reaching OMR 3.9 mln (USD 10.1 mln), a 62pct increase YoY, driven by strong construction demand in…
Iron ore futures fell on Thursday as the market remained cautious amid a mixed demand outlook. However, hopes for further stimulus and strong manufacturing data helped limit losses. High iron ore port inventories and…
Nippon Steel Corporation (NSC) has launched an overseas version of its ProStruct brand, providing advanced construction solutions for buildings and infrastructure since October. Originally introduced in Japan in 2022…
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