Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Watani Iron Steel Company (Watani Steel) has announced the appointment of Abdul Karim Mohammed Al Rajhi as the Chairman of the board for the upcoming three-year term. Alongside him, Mishaal Abdul Karim Al Rajhi and…
Dalian iron ore futures experienced a slight uptick on Wednesday, however, the overall outlook remains uncertain due to several factors, including the ongoing Tangshan output curbs and a weakening demand for steel…
Shanghai steel futures continued their upward trend on Tuesday, driven by ongoing production restrictions in Tangshan, China's leading steelmaking city. Tangshan has instructed steel mills to limit their steel and…
NINL, a 1.1-mln-ton steel manufacturing unit in Odisha, has reached 100 pct capacity utilisation within one year of its acquisition by Tata Steel. On July 4, 2022, the steel major completed the acquisition of Neelachal…
The Dalian iron ore futures experienced a decrease on Monday as reports emerged regarding Tangshan ordered steel mills to reduce production in order to combat air pollution According to the reports, Tangshan, a major…
Turkish steel exports to the GCC region experienced a mixed performance in May 2023. While Turkish steel exports to Saudi Arabia declined, there was a notable increase in exports to the UAE and Qatar. In May 2023, the…
Dalian iron ore futures witnessed a drop in Monday's post-holiday trade as weak steel demand overshadowed the rise in steel output China's daily crude steel output reached 2.95 mln tons from June 11 to 20, a 1.11pct…
Turkey's scrap import prices have remained unchanged in the past week as mills refrain from entering the market amid sluggish steel demand. Scrap import offers for the Turkish market are currently hovering around USD…
Turkish steel producer, Kocaer Celik announced through a stock exchange filing that it has secured a steel profile order worth USD 24.8 mln for both the American continent and Europe. The company is scheduled to deliver…
Iranian finished steel consumption witnessed a 0.5pct YoY increase during the first two months of the current Iranian year (March 21-May 21), reaching 3.59 mln tons for finished products, according to the Iranian Steel…
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 575 per ton EXW, representing a decrease from…
Saudi Iron and Steel Company (Hadeed) has decided to keep the prices of rebar and wire rod unchanged for the production in July. The company has maintained the pricing of rebar, ranging from 12-32 mm, and wire rod…
Dalian iron ore futures continued their downward trajectory on Wednesday, as a bleak demand outlook weighed on market sentiment. Hopes for substantial stimulus measures ahead of the Chinese national holidays fizzled…
UAE's Emirates Steel Arkan (ESA) has announced that it will keep rebar prices unchanged for July production. ESA will continue offering rebar at AED 2,450 (USD 667) per ton CPT Abu Dhabi and AED 2,458 (USD 669) per ton…
According to a recent report by the Iranian Steel Producers Association, Iranian steelmakers recorded a production of 6.31 mln tons of semi-finished products during the first two months of the current fiscal year (March…
Dalian iron ore futures continued their downward trend on Tuesday despite the Chinese central bank's reduction in a key lending benchmark rates, failing to provide a boost to the futures market. The People's Bank of…
Dalian iron ore futures experience decline as concerns over insufficient government stimulus and downgraded growth forecasts weigh on market sentiment. Goldman Sachs, joining other major investment banks such as UBS…
Turkish steel producer, Kardemir has announced an adjustment in rebar and billet prices, according to its latest price list. The company has increased the prices of 12-32 mm rebar sizes to TRY 15,000 (USD 635) per ton…
Dalian iron ore futures extended gains as the Chinese central bank reduced the borrowing cost of its medium-term policy loans for the first time in 10 months. China's medium-term lending facility serves as a funding…
Several steel manufacturers in Egypt have been compelled to halt or reduce production and even shut down their factories due to a shortage of foreign currency required for importing raw materials, according to a local…
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