Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
Got a story for the Middle East steel market? Submit news
1,615 news items in Long. Show all
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…
Iron ore futures continued their upward trend on Thursday, driven by recent property-supportive measures, though long-term demand concerns remain. The National Financial Regulatory Administration (NFRA) reported that…
Tokyo Steel, a leading EAF-based steel producer in Japan, has decided to maintain stable steel prices for September, marking the seventh consecutive month of price stability. Base prices will remain unchanged, with HRC…
Saudi Arabian long steel producer Riyadh Steel reported a slight increase in net profit for the first half of 2024. The company's net profit rose by 0.5pct YoY to SAR 2.53 mln (USD 0.67 mln), according to a recent stock…
Iron ore futures surged on Wednesday, driven by positive market sentiment following several supportive property-related measures. According to the National Financial Regulatory Administration (NFRA), China's commercial…
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) reported a significant rise in net profit for H1 2024, reaching SAR 3.4 mln (USD 0.9 mln), up from SAR 1.2 mln in the same period last year. The growth in profit was…
Dalian iron ore futures extended gains on Tuesday, driven by hopes for improving steel demand, though concerns about long-term demand remain. Analysts noted a decline in steel inventories at major Chinese warehouses…
Turkey's leading steel producer, Erdemir Group reported a net profit of TRY 10.389 bln (USD 308 mln) for H1 2024, reversing a loss of TRY 3.99 bln in the same period last year. The company's sales revenue surged by…
Misr National Steel (Ataqa) reported net profits of EGP 535.45 mln (USD 10.9 mln) for the first half of 2024, up from EGP 410.74 mln in H1 2023. Net sales reached EGP 2.77 bln (USD 56.6 mln) as of June 30, 2024…
Dalian iron ore futures posted gains on Monday, recovering from earlier losses as expectations of improved steel demand supported the market, although long-term demand concerns persist. Analysts noted that better…
Turkey's scrap import prices fell this week to USD 365-370 per ton CFR, down from USD 380 per ton CFR last week, partly due to the availability of cheaper billet import offers. Billet offers from China are now in the…
Iron ore futures fell for a fifth consecutive session on Friday as a bearish demand outlook continued to weigh on market sentiment. Iron ore futures also dropped 6pct compared to the previous Friday's morning session…
Saudi Iron and Steel Company (Hadeed) will lower its wire rod prices by SAR 100 (USD 27) per ton for September deliveries. The new price for wire rod (6.5-16 mm) will be SAR 2,435 (USD 648) per ton. Hadeed recently…
Turkish steel producer Kardemir has reduced its rebar prices in the latest sales round, according to the company's updated price list. The company is now offering rebar in sizes from 12 to 32 mm at TRY 19,450 (USD 579)…
Iron ore futures extended their losses on Thursday, driven by weak steel production data and concerns about demand. China's crude steel output fell by 9pct YoY to 82.9 mln tons in July and dropped 9.5pct compared to the…
Iron ore and steel futures fell sharply on Wednesday, driven by disappointing credit data that heightened concerns about demand. China's bank lending dropped to its lowest level in nearly 15 years, affected by weak…
China's steel industry is facing a crisis more severe than the downturns of 2008 and 2015, according to Hu Wangming, Chairman of China Baowu Steel Group, as reported by Bloomberg. Hu characterized the current conditions…
Saudi Iron and Steel Company (Hadeed) has reduced its rebar prices, citing weak sales as the reason. The price for rebar (12-32 mm) has been cut by SAR 40 (USD 11) per ton to SAR 2,370 (USD 631) per ton. However, wire…
“Premium Content” marks a news item that needs a subscription to read in full.
