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
The Middle East construction sector remains strong, with Saudi Arabia leading the way. According to the Q2 2024 RICS Global Construction Monitor, the region's Construction Activity Index (CAI) reached +24 pct, marking…
The US Department of Commerce has preliminarily determined that Al Jazeera Steel Products sold circular welded carbon-quality steel pipe from Oman below market value in the US. This finding pertains to sales made during…
Saudi Arabia's Group Five Pipe reported a 5pct drop in net profit to SAR 9.2 mln (USD 2.44 mln) for H1 2024, according to a stock exchange filing. The decline was attributed to increased financing costs. The company's…
Saudi-based Fakeeh Care Group has announced that its key subsidiary - Dr Soliman Abdulqader Fakeeh Hospital Company (DSFH) - has signed up Advanced Horizons Contracting Company for the construction of its new medical…
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…
Saudi Steel Pipe Co. (SSP) has been awarded a SAR 138 million (USD 36.7 million) contract to supply oil and gas steel pipes to Saudi Aramco, according to a stock exchange filing. The contract is set to last for 12…
Technomak, a turnkey EPC company specializing in oil and gas, FPSO, and renewable energy sectors, has unveiled a major expansion plan in the Hamriyah Free Zone (HFZA), Sharjah. To meet rising global demand, Technomak…
Turkey's Ministry of Trade has assigned preliminary antidumping duties on HRC imports from China, India, Japan, and Russia, according to the market sources. The new dumping margins are set at 20.56-57.75pct for Chinese…
Vale S.A. has reached a definitive agreement with the private equity investment firm, Apollo, under which Apollo-managed affiliates, funds, and long-term investors will invest USD 600 mln to acquire a 50pct interest in…
A consortium of China State Construction Engineering Corporation (CSCEC) and global technology major Siemens has been awarded a contract by Iraq for the refurbishment of the unit two of the Baiji gas-fired power…
Saudi Arabia's East Pipes Integrated Company for Industry has secured a pipe supply contract valued at over SAR 235 mln (USD 62.5 mln) from Esnad Al-Turuq for General Contracting, including VAT. The 24-month contract…
Emarat Al Oula Industries (EAI) has secured a significant contract worth over USD 70 mln from Marie Tecnimont. The contract involves extensive piping work, totaling 1.4 mln inch-diameter pipes, for the Hail & Gasha Gas…
Leos Developments, international property developer, has broken ground on its latest development, Cavendish Square, within Jumeirah Village Triangle (JVT) in Dubai. Cavendish Square features a total of 138 apartments…
Turkish steel manufacturer Kardemir has reduced billet prices, according to its latest price list. The company is offering S235JR grade billets at USD 535 per ton EXW and B420 grade billets at USD 550 per ton EXW, down…
Turkish steelmaker Habas is set to expand its presence in the pipe sector through a new acquisition. The company aims to acquire Ilhanlar Haddecilik, a subsidiary of the Ilhanlar Group, located in the Osmaniye Organized…
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…
The total value of awarded contracts in Saudi Arabia for the first quarter soared to USD 32 bln, thus recording a 79pct growth over last year while on a quarter-on-quarter basis, the value of contracts grew by 35pct…
In the first half of 2024, Turkey's crude steel production surged by nearly 17pct YoY, reaching 18.6 mln tons, according to the Turkish Steel Producers' Association (TCUD). June 2024 saw a 3.1pct increase in crude steel…
Saudi Arabia's Arabian Pipes Co. (APC) reported a net profit of SAR 111.83 mln (USD 29.7 mln) in the first half of 2024, a significant increase from SAR 56.94 mln in the same period last year. This profit surge is…
Work is currently underway on the 'initial design' of the groundbreaking railway project linking Kuwait and Saudi Arabia, aimed at transporting passengers and goods, reported Arab Times. The move comes following the…
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