Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Ezz Steel, Egypt's leading steel producer, reported a profit in the first half of 2024, according to its financial statement. The company achieved a profit of EGP 2.27 bln (USD 46.9 mln), reversing a loss of EGP 810 mln…
Demand for rebar and wire rod is projected to reach 7.5 mln tons in 2024, according to Jassem Abbas, Vice Chairman of the National Committee for Steel Industry (NSCI) and General Manager of Sales, Marketing, and…
Iran's production of semi-finished steel has declined in the first five months of Iranian fiscal year, primarily due to widespread electricity cuts this summer, according to industry sources. The Iranian Steel Producers…
Canada has issued a final determination on the dumping of Egyptian wire rod, according to a notice from the Canada Border Services Agency (CBSA). The CBSA also confirmed final antidumping margins on wire rod imports…
Turkey's scrap import prices remained stable this week as buyers evaluated the market in light of cheaper billet offers from China. Scrap prices were assessed at USD 370 per ton CFR, unchanged from the previous week…
Iron ore futures declined on Friday but recorded weekly gains as mills increased production to capitalize on improved steel demand. The reduction in steel inventories at major Chinese warehouses, signaling stronger…
Gerdau Whitby recently placed orders with AIC to manage the intermediate drives, finishing drives, and the complete control system for their rolling mill. This project, commissioned in the summer of 2024, achieved a…
Iron ore futures rose on Thursday, driven by pre-holiday restocking activity, which lifted market sentiment. Steel inventories at major Chinese warehouses continued to decline ahead of the Mid-Autumn Festival holidays…
Turkish steel producer Kardemir has lowered its billet prices, as per the latest price list. The company's S235JR grade billets are now offered at USD 530 per ton EXW, and B420 grade billets at USD 545 per ton EXW…
Turkey's wire rod exports reached approximately 572,000 tons in the first seven months of 2024, marking a significant 98pct increase compared to the same period last year, according to the Turkish Statistical Institute…
Iron ore futures rose on Wednesday, supported by improving steel demand, which boosted market sentiment. Major steel producers, Baosteel and Shagang, kept domestic prices for long and flat steel products unchanged, a…
Turkey exported around 1.9 mln tons of rebar in the first seven months of 2024, marking a 10pct increase YoY, according to data from the Turkish Statistical Institute (TUIK). The top three destinations for Turkish rebar…
Iron ore futures dipped slightly on Tuesday after giving up earlier gains, as the market remained cautious about steel demand recovery. Typically, the peak steel consumption months of September and October support…
Iron ore futures rose on Monday, driven by improved steel demand and renewed hopes for stimulus following China's tepid economic data, despite long-term concerns over demand for key steelmaking raw materials. Steel…
Giridhan Metals awarded AIC a contract for automation and fast finishing area equipment for their 350,000 tons per annum bar mill. The mill, which was commissioned in June 2023, has significantly enhanced productivity…
Turkey's scrap import prices rose this week as mills booked cargoes at higher rates, though a sharp decline in Chinese prices dampened market sentiment toward the end of the week, potentially limiting further price…
Turkish steel producer, Diler Demir Celik has achieved top performance and set speed records (40 m/sec) for D8 and D10 diameters with its newly installed spooler line at the Izmit plant in Turkey, according to a press…
Dalian iron ore futures remained largely unchanged on Friday as concerns over demand continued to weigh on market sentiment. Weak economic growth and ongoing troubles in the property sector have led to cautiousness…
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 19,875…
Emirates Steel Arkan, the UAE's largest publicly listed steel and building materials company, has rebranded as EMSTEEL to accelerate its operational transformation and expand its global presence. The rebranding reflects…
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