Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Steel mills in India are experiencing a slowdown in demand in domestic markets, leading to a decrease in prices. Several factors contribute to the declining demand, including the monsoon season and seasonal weakness…
In May, Turkish wire rod exports showed a notable rebound, increasing by 47pct compared to the previous month. However, the YoY figures remained bleak, with exports plummeting by 63pct. The total exports for May…
The Egyptian Ministry of Trade and Industry has announced that it will maintain tariffs on steel rebar imports from China, Turkey, and Ukraine for a period of five years. The antidumping duties on rebar imports from…
Despite the Chinese government's recent stimulus measures aimed at addressing the challenges faced by the troubled property sector, iron ore futures remained rangebound on Tuesday. The central bank's announcement of an…
Pakistan’s rebar producer, Dost Steels Limited (DCL) faces continued closure of operations amid pending litigation, according to the company's progress report. Despite management's efforts to find a resolution and…
Iron ore futures tumbled on Monday as sentiments were dampened by unfavorable economic data. The National Bureau of Statistics (NBS) reported that the producer price index (PPI) fell for the ninth consecutive month in…
SteelAsia Manufacturing Corp., the largest steel manufacturer in the Philippines, announced that it has successfully exported more than 36,000 tons of rebars to Canada. The Chairman and CEO of SteelAsia, Benjamin Yao…
Global Steel Wire, a part of Celsa Group, and Michelin, a leader in sustainable mobility, have entered into a collaboration agreement to enhance the circularity and sustainability of steel products supplied by Global…
Turkey has witnessed a decrease in scrap import prices over the past two weeks as buying activity remains minimal due to weak finished steel. Scrap import offers for the Turkish market hover around USD 375 per ton CFR…
Turkey's major steel producer, Kardemir has lowered steel sections prices, according to the company's new price list. The company's new price range for IPE-NPU (160-550 mm) is USD 750-900 per ton EXW, which is lower…
Egyptian steel producer, Ezz Steel, faced a net loss in Q1 2023 as profitability was impacted by sharp currency depreciation. According to the company's financial statement, they posted a net loss of EGP 2.489 bln in Q1…
Iron ore futures dropped on Friday due to diminishing expectations of broader stimulus measures. Despite the recent slowdown in economic recovery, analysts believe the likelihood of significant stimulus is unlikely, as…
Vietnam’s steel producer, Hoa Phat Group experienced a decline in crude steel production in June 2023, producing 520,000 tons, which was 23pct lower than the same period in 2022. The company’s sales volumes of…
Turkish steel producer, Kardemir has announced new rebar prices, according to its latest price list. The company has raised the prices of rebar sizes ranging from 12-32 mm to TRY 15,850 (USD 607) per ton, compared to…
Industries Qatar (IQ), the parent company of Qatar Steel, has announced its approval of plans to acquire Al Qataria Steel, as stated in an exchange filing. The filing highlights that IQ has granted preliminary approval…
The Pakistan Association of Large Steel Producers (PALSP) have voiced strong criticism against the existing dual tax system in the country, raising concerns about the preferential treatment and unfair advantages enjoyed…
Iron ore futures recorded gains on Thursday, driven by the anticipation of additional stimulus measures aimed at bolstering the country's post-COVID economic recovery. However, concerns persist regarding the demand…
Commercial Metals Company (CMC), a US steel producer, has commenced operations at its new micro mill in Mesa, Arizona, according to a press release by Italian steel equipment manufacturer Danieli. The startup of “CMC…
Turkish steel producer, Kardemir has decreased billet and wire rod prices, according to its latest price list. Kardemir's S235JR grade 150 mm billet is now offered at USD 565 per ton EXW, representing a decrease from…
Bahrain-based Sulb Company BSC, a major manufacturer of medium and heavy beams and structural steel sections in the Middle East, has partnered with TBK Automation and Measuring Technology GmbH to implement an advanced…
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