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 launched a new round of billet sales, according to its latest price list. The company maintained the price of S235JR grade billets at USD 530 per ton EXW, while raising the price of…
Iron ore futures extended gains for a third consecutive session on Thursday, driven by China's pledge for additional stimulus, which restored confidence just as the effects of the latest monetary easing measures began…
Murat Cebecioglu, chairman of IREPAS (International Rebar Exporters and Producers Association), highlighted at a conference the growing instability in the global long steel industry's supply and demand balance, with…
Turkish steelmaker Kardemir has announced its sales allocation plan for October to December 2024. The company has reduced allocations for billets, wire rods, and profiles compared to the previous quarter, while keeping…
Conares, the second-largest private steel manufacturer in the UAE, has partnered with Interstar Education Services and Al Saraya Engineering Consultants to develop Victory Heights Primary School in Dubai's City of…
Iron ore futures extended gains on Wednesday as Beijing's recent stimulus measures fueled optimism for steel demand. Following Tuesday's broad policy easing, the Chinese central bank cut medium-term lending rates to…
UAE's leading steel producer, EMSTEEL (formerly Emirates Steel Arkan), has expressed interest in acquiring the mills of Spanish steelmaker Celsa located in Poland, the UK, and Norway, which have a combined value of…
Pakistani long steel producer Amreli Steels announced plans to temporarily suspend operations at its Karachi plant due to significant economic challenges, according to a stock exchange filing. The company's board of…
Iron ore futures surged on Tuesday following Beijing's announcement of monetary stimulus aimed at supporting the economy. China's central bank introduced several policy measures, including a cut to the reserve…
UAE's EMSTEEL, formerly known as Emirates Steel Arkan, has maintained its rebar prices for October production. The company's rebar prices remain unchanged at AED 2,447.25 (USD 666) per ton CPT Abu Dhabi and AED 2,456.25…
Iron ore futures tumbled on Monday as market sentiment weakened due to the absence of new stimulus measures from Beijing. Despite expectations of a rate cut to bolster the economy, the Chinese central bank kept the…
India's finished steel imports from China reached a seven-year high in the first five months of the 2024/25 fiscal year, according to provisional government data reported by Reuters. Overall, India's finished steel…
Turkey's scrap import prices declined this week as Turkish steel mills booked several European-origin scrap cargoes at lower prices. Scrap import prices were assessed at USD 360-365 per ton CFR, down from USD 370 per…
Mughal Steel, a Pakistani steel producer, announced that its board of directors has approved the balancing, modernization, and replacement (BMR) of the existing steel bar re-rolling mill, according to a stock exchange…
Iron ore futures edged higher on Friday but relinquished some gains by session's end after Beijing maintained its benchmark lending rates. The Chinese central bank maintained the one-year loan prime rate at 3.35pct and…
Turkish steel producer Kardemir has raised its rebar and wire rod prices in the latest sales round, according to the company's updated price list. Rebar in sizes ranging from 12 to 32 mm is now offered at TRY 20,460…
Iron ore futures gained on Thursday, driven by stimulus hopes despite ongoing demand concerns. The optimism was fueled by the US central bank's decision to cut interest rates for the first time in over four years…
Tokyo Steel, a leading EAF-based steel producer in Japan, has reduced steel prices for October after maintaining stable prices for the past seven months. HRC (1.7-22 mm) prices were lowered by JPY 12,000 (USD 85) to JPY…
Turkish steel manufacturer Kocaer Celik reported a significant 77pct YoY drop in net profit for the first half of 2024. In a stock exchange filing, the company disclosed a net profit of TRY 145.23 mln (USD 4.26 mln)…
Iron ore futures plunged on Wednesday following the post-holiday resumption of trading, driven by cautious market sentiment surrounding demand prospects. Chinese commodity markets were closed earlier in the week due to…
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