Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Iron ore futures remained steady on Tuesday, with the key steelmaking material continuing to face pressure due to weak demand. Many Chinese steel mills are experiencing losses and reducing output through maintenance as…
Iron ore futures declined on Monday as persistent weak fundamentals continued to weigh on market sentiment. The majority of Chinese steel mills are cutting production to mitigate losses due to weak downstream steel…
Vietnam's finished steel production is expected to reach 30 mln tons this year, a 7pct increase from last year, according to the Ministry of Industry and Trade (MoIT). However, the sector faces challenges, including…
The Federation of Thai Industries (FTI) has warned that the Thai steel industry may face dominance by Chinese companies establishing factories in the country, according to local media reports. FTI Chairman Kriengkrai…
Turkey's scrap import prices fell this week as weak steel demand and lower billet import offers limited scrap buying activity. Prices were assessed at USD 380 per ton CFR, down USD 10 per ton from the previous week…
Iron ore futures recovered on Friday, helped by improved economic data, though concerns about weak demand persist. China's consumer price index (CPI) rose by 0.5pct YoY in July, according to the National Bureau of…
Iron ore futures fell on Thursday, pressured by weak steel demand and market sentiment. Persistent sluggishness in downstream steel demand has led steel producers to cut output, reducing iron ore demand. Additionally, a…
Iron ore futures extended their losses on Wednesday due to a dim demand outlook driven by weak steel demand. Analysts expect that reduced steel profitability may lead mills to cut operations and limit production. Rising…
India's Shyam Metalics and Energy reported substantial gains in stainless steel sales, which surged 219pct YoY to 5,699 tons in July 2024, up from 1,786 tons in July 2023. Carbon steel sales, including billets and long…
Saudi Arabia's General Authority for Statistics (GASTAT) has reported the price trends for key building materials in Q1 2024. The average price of rebar decreased by 9.83pct to SAR 2,882.43 (USD 767) per ton from SAR…
Iron ore futures fell on Tuesday as market sentiment was dampened by lower production figures and persistently weak steel demand. Daily crude steel output among China Iron and Steel Association (CISA) member mills…
China's steel exports may decline in the coming months due to growing international pushback, Bloomberg reports. Vietnam has joined the US and Chile in initiating anti-dumping investigations against Chinese steel, as…
Iron ore futures gained on Monday, supported by expectations of stimulus measures from Beijing and an improved outlook for steel demand. China's services sector saw accelerated growth in July, driven by new orders…
Turkey's scrap import prices remained steady at USD 390 per ton CFR this week due to limited buying activity. This stagnation is attributed to lower billet import offers and weak demand for Turkish finished steel in the…
UAE's Emirates Steel Arkan saw a significant drop in profits during the first half of 2024 due to tough conditions in both export and domestic markets. The company's net profit for Q1 2024 fell to AED 174.4 mln (USD…
Iron ore futures gained on Friday amid hopes for additional stimulus measures from Beijing, though concerns about demand remained. The market anticipates new stimulus following weak Chinese manufacturing data released…
Turkish steel producer Kardemir has lowered rebar prices in its latest sales round, as per its new price list. The company is now offering rebar in sizes from 12 to 32 mm at TRY 19,500 (USD 588) per ton, down from TRY…
Iron ore futures gained on Thursday, driven by a more optimistic short-term demand outlook. The National Development and Reform Commission (NDRC) of China released a survey indicating a cautious optimism for the Chinese…
Baoshan Iron & Steel Co. Ltd., a leading Chinese steel producer, has successfully completed the initial rolling of bars using the Kocks Reducing & Sizing Block (RSB) in its new SBQ rolling mill. This investment enhances…
Turkish steel manufacturer Kardemir has lowered its wire rod prices in the latest sales update. The company is now offering 5.5 mm SAE 1006 grade wire rod at USD 615 per ton EXW, a decrease of USD 10 per ton from the…
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