Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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2,429 news items in ME Steel News. Show all
Pakistan's Aisha Steel Limited reported losses in the first half of fiscal year 2025, ending December 31, 2024, according to a stock exchange disclosure. The company posted a net loss of PKR 1.7 bln (USD 6 mln), a sharp…
Turkey's billet imports surged in January 2025, more than doubling YoY to approximately 390,900 tons, according to data from the Turkish Statistical Institute (TUIK). Malaysia emerged as the largest supplier, delivering…
Hanwha Ocean, a leading South Korean shipbuilder, has commenced construction on eight new liquefied natural gas (LNG) carriers as part of QatarEnergy's ambitious LNG fleet expansion project. A steel-cutting ceremony was…
Turkish steelmaker Kardemir has released an updated price list for its long steel products. The company has raised the price of 12-32 mm rebar to TRY 20,875 (USD 570) per ton EXW, up from TRY 19,875 (USD 548) per ton…
The Competition Commission of Pakistan (CCP) has issued show-cause notices to International Steel (ISL) and Aisha Steel Mills (ASML) over alleged cartelization in the flat steel market. A final decision will be made…
Iraq has commenced construction of its largest solar power plant, Basra Sun, with a total capacity of 1,000 megawatts (MW) in Basra province. The solar photovoltaic (PV) power plant is one of the four sub-projects of…
Bahrain's government has allocated USD 2.1 bln for housing projects and services, the largest budget ever dedicated to the sector, according to BNA. The announcement was made during a joint meeting of the executive and…
Egypt's El Garhi Group has agreed to sell a 26.25pct stake in Misr National Steel (Ataqa) to Al Organi Group, a diversified Egyptian conglomerate, according to a stock exchange filing. The stake will be acquired by Al…
Saudi Arabia's Arabian Pipes Co. (APC) reported a net profit of SAR 168.18 mln (USD 44.8 mln) in 2024, reflecting a 27.3pct YoY increase, according to its stock exchange filing. The profit growth was driven by higher…
Khalifa Economic Zones Abu Dhabi (KEZAD) and its strategic partner, Metal Park, have launched the first phase of a cutting-edge metal storage hub in KEZAD Free Zone. This facility is the world's first pay-as-you-go…
Meraas, a subsidiary of Dubai Holding Real Estate, has awarded a contract worth over AED 2 bln to Arabian Construction Company LLC for the construction of Design Quarter at Dubai Design District (d3), a global hub for…
Turkish steelmaker Karabuk Demir Celik (Kardemir) reported a deeper net loss in 2024, according to its latest financial report. The company's net loss rose to TRY 3 bln (USD 82.9 mln), up from TRY 2.29 bln in the…
Tubacex, a global leader in advanced industrial solutions for the energy and mobility sectors, has signed a USD 50 mln license agreement with the Abu Dhabi National Oil Company (Adnoc), granting its usage rights for its…
Molan Steel Co. plans to issue SAR-denominated sukuk, also commonly referred to as sharia compliant bonds, worth SAR 20 mln (USD 5.3), according to a statement to Tadawul. The company has appointed Afaq Financial as the…
DP World and the Saudi Ports Authority (Mawani) have inaugurated the South Container Terminal at Jeddah Islamic Port, marking a key milestone in DP World's USD 800 mln expansion program aimed at strengthening Saudi…
Turkey's scrap import prices continued to rise this week, reaching USD 365-375 per ton CFR, up from USD 360-365 per ton CFR last week. The upward trend is driven by higher collection costs and strong market sentiment in…
Turkish steel producer Kardemir has announced a strategic partnership with U.S.-based Amsted Rail Company Inc., according to a stock exchange filing. The company has signed a memorandum of understanding (MoU) with…
Arada has awarded a USD 164 mln contract to Modern Building Contracting Company (MBCC) for the first phase of Arada Central Business District (CBD), the commercial hub within the USD 9.5 bln Aljada megaproject…
Emirati firm, TAQA and Saudi Arabia's ACWA Power are among several foreign firms that have been awarded mega green hydrogen projects in Morocco with a total cost of nearly USD 32 bln, the local press reported. The…
Maghreb Steel, Morocco's leading flat steel producer, reported a nearly 16pct YoY increase in revenue for 2024, driven by strong domestic sales. The company's revenue rose to MHD 5.42 bln (USD 546 mln), up from MHD 4.68…
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