Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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2,438 news items in ME Steel News. Show all
Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the largest operator of integrated economic zones in the UAE, has signed a 50-year land lease agreement with Abundance Solar Panels Industries. The deal will see the…
Turkey's statistical authority, TUIK, reported a rise in the construction sector confidence index for August 2024, increasing by 1.1pct to 88.0 from the previous month. The retail trade sector confidence index also grew…
Saudi Arabia's Molan Steel Co. reported a 21pct YoY reduction in net losses for the first half of 2024, according to a stock exchange filing. The company recorded a net loss of SAR 2.49 mln (USD 0.66 mln) in H1 2024…
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…
Egyptian real estate developer Madinet Masr the signing of a Memorandum of Understanding (MoU) with Smart Construction and Development (SCAD) to undertake construction work valued at USD 13mln for the Sarai mixed-use…
Pakistani flat steel producers, International Steels Limited (ISL) and Aisha Steel, have announced new prices for CR and galvanized coil products in the domestic market. ISL's CRC (1mm) is priced at PKR 211,500 (USD…
Turkey exported 1.04 mln tons of welded steel pipes in the first half of the year, marking a 12.3pct increase from the previous year, according to the Turkish Statistical Institute (TUIK). Romania was the largest…
Dubai-based Nakheel has awarded a USD 220.5 mln contract for the marine works on Palm Jebel Ali to Jan De Nul Dredging Limited. The contractor, which is part of Belgium-based Jan De Nul Group, will be responsible for…
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…
Turkey's Cinar Boru announced that its subsidiary, Cinar Celik, has launched a new pickling line in Eregli, according to local media reports. The company invested over USD 20 mln in the new line, which has an annual…
NMDC Group has secured a contract worth more than USD 200 mln from the Abu Dhabi National Oil Company (Adnoc) for crucial marine dredging works for the Ruwais LNG project. The contract encompasses extensive dredging…
The Egyptian Cabinet has authorised the Ministry of Transport to finalise the contract to build and operate the Borg El Arab dry port and logistics project under the Public-Private Partnership (PPP) framework. The…
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…
The Middle East's crude steel production rose by 3.7pct YoY (YoY) to 32.2 mln tons in the first seven months of 2024, according to the World Steel Association. However, the region saw a 10.1pct YoY decline in July 2024…
Taraf, the real estate division of UAE-based investment group Yas Holding, has signed up TMF Euro Foundation as the enabling works contractor for Cello Residences, located in Jumeirah Village Circle (JVC), Dubai. TMF…
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…
Turkey's HRC exports reached approximately 1.1 mln tons in the first half of this year, marking a 120pct increase YoY, according to the Turkish Statistical Institute (TUIK). Italy was the largest destination for Turkish…
Crescent Steel and Allied Products Limited has secured an agreement with the joint venture of China Harbour Engineering Company Limited (CHEC) and Al-Fajr International (AFI) to supply an additional quantity of coated…
South Korean LNG infrastructure company GAS Entec announced that its consortium with group company AG&P and local firm Issa Haddadin has been awarded an engineering, procurement, construction, installation, and…
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…
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