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
Turkey imported nearly 10 mln tons of scrap in the first half of 2024, marking a 3.6pct increase compared to the same period last year, according to the Turkish Statistical Institute (TUIK). Turkey's scrap imports from…
Egypt's Industrial Engineering Company for Construction and Development (ICON) reported a 140pct YoY increase in consolidated net profits for H1 2024, reaching EGP 519.59 mln (USD 10.6 mln), up from EGP 216.32 mln. The…
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…
Chinese electric vehicle giant BYD announced plans to open a car production plant in Pakistan, partnering with Mega Motors to sell three models. The company will establish three flagship stores and experience centers in…
The Red Sea International Company (RSI) said it has been awarded a USD 175.2 mln contract by top Italian engineering group Webuild for setting up a camp for workers serving the Trojena Dam project coming up at the Saudi…
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…
Turkish construction company Karmod has expanded its European presence with a new steel-framed housing project in Montargis, France, marking its third residential venture in the country. The project, featuring a 3+1…
The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed a contract with Welspun Middle East Pipes to allocate 493,000 square meters of industrial land in Dammam's Third Industrial City for the…
The Royal Commission for Riyadh City has awarded a road development contract worth USD 3.46 bln to enhance the city's transportation system. The first phase of the programme aims to develop the axes of the ring and main…
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)…
Tosyali's subsidiary in Angola, Tosyali Iron & Steel Angola SA (TISA), is set to establish a new integrated steel facility in collaboration with Angola's state oil company, Sonangol. The facility will be located at the…
The National Water Company (NWC) announced that it has started the implementation of 20 water and sanitation projects in the Riyadh region. The projects will see laying of pipes and networks running over 1,300 km…
Man Industries (India) has announced plans to establish a new plant in Dammam, Saudi Arabia, with an estimated project cost of over USD 71 mln, according to a stock exchange filing. The new facility will feature line…
Saudi Arabia's Al Yamamah Steel Industries Co. has reported a significant turnaround in its financial performance, moving from a SAR 107.16 mln loss in the first nine months of FY24, which ended June 30, 2024, to a…
China Energy Engineering Corporation (CEEC) said it has signed a USD 972 mln Engineering, Procurement and Construction (EPC) contract to build the 2,000 megawatts (MW) Haden solar PV Independent Power Plant (IPP)…
Oman-based Galfar Engineering & Contracting has announced that it has secured a civil works contract from Occidental Oman (Oxy), an oil and gas exploration and production company, worth USD 48 mln. The entire contract…
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…
In June, Turkey imported approximately 97,000 tons of pig iron, marking a sharp 66pct increase YoY but a 27pct decrease from the previous month, according to the Turkish Statistical Institute (TUIK). Russia remained the…
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