Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Dalian iron ore futures extended their decline on Thursday, falling for the fifth consecutive session, as the outlook for iron ore demand remains weak despite a modest recovery in steel demand. The improvement in steel…
Iron ore futures extended their losses for a fourth consecutive session on Wednesday, as market sentiment remained pessimistic. The bearish outlook was driven by higher port-side iron ore inventories and weak steel mill…
The Saudi Exchange (Tadawul) announced its rejection of Watani Iron Steel's (Watani Steel) request to transfer from the Nomu-parallel market to the main market. According to Tadawul, the decision was made because the…
Iron ore futures tumbled on Tuesday, pressured by a bearish demand outlook driven by a contraction in manufacturing. The official manufacturing PMI fell to a six-month low of 49.1, according to the National Bureau of…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) announced in a stock exchange filing the renewal of a Shariah-compliant bank facility agreement worth SAR 25 mln (USD 6.65 mln) with Alinma Bank. The funding, secured…
Iron ore futures plunged on Monday, weighed down by weak official PMI data. The manufacturing PMI dropped to a six-month low of 49.1, according to the National Bureau of Statistics, intensifying pressure on Beijing to…
Turkey's scrap import prices strengthened this week, driven by improved market sentiment in the finished steel sector. Scrap import prices were assessed at USD 360-365 per ton CFR, up from USD 355-360 per ton CFR last…
Iron ore futures declined on Friday as market remained cautious due to ongoing demand concerns. Iron ore inventories at major Chinese ports rose on a weekly basis, while weak profitability at steel mills kept the…
Turkish steel manufacturer Karabuk Demir Celik (Kardemir) reported an increase in losses for the first half of 2024, according to the company's financial statement. Kardemir's net loss reached TRY 1.829 bln (USD 53.6…
Pakistan's Agha Steel Industries Limited has announced that it has received a notice of Public Announcement of Intention from Fauji Foundation, which has expressed its interest in acquiring shares and control of the…
Iron ore futures rose on Thursday, driven by expectations of improving demand in the near future, though concerns about long-term demand persist. The reduction in finished steel inventory at major Chinese warehouses…
UAE's Emirates Steel Arkan has raised rebar prices for its September production. The company's new rebar prices are set at AED 2,447.25 (USD 666) per ton CPT Abu Dhabi and AED 2,456.25 (USD 669) per ton CPT Dubai…
Iron ore futures ended flat on Wednesday after an initial pullback, as the market remained cautious about demand outlook. Expectations of improved demand during the peak consumption season encouraged steel mills to…
German special steel producer Lech-Stahlwerke (LSW) has issued the final acceptance certificate (FAC) to Primetals Technologies for an innovative scrap torch-cutting machine at its Meitingen plant. This new facility…
Riyadh Steel Co. has signed a Shariah-compliant short-term credit facility agreement with Saudi Awwal Bank (SAB) valued at SAR 10 mln (USD 2.66 mln), according to a statement to Tadawul. The one-year facility is secured…
Iron ore futures continued to rise on Tuesday, driven by restocking demand and optimism over near-term steel demand. Expectations of improved steel consumption have prompted steelmakers to replenish iron ore stocks…
Iron ore futures surged on Monday, buoyed by optimism that steel demand may increase in the near future. Market sentiment improved as traders anticipated that recent property-support measures and better weather…
Turkey's scrap import prices dropped this week to USD 355-360 per ton CFR, down from USD 365-370 per ton CFR last week. The decline is attributed to negative market sentiment caused by slow finished steel demand in the…
Iron ore futures fell on Friday as weak fundamentals weighed on market sentiment. Chinese steel mills faced pressure from weak margins, leading to output cuts that further darkened the demand outlook for iron ore…
Turkish steel producer Kardemir has kept billet prices unchanged while reducing wire rod prices in its latest sales round, according to the company's latest price list. The company is offering S235JR grade billets at…
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