Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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2,433 news items in ME Steel News. Show all
Turkey's scrap import prices fell this week as mills secured cargoes at lower rates. Prices are now assessed at USD 340-345 per ton CFR, down from USD 350-360 per ton CFR last week. The decline is largely driven by weak…
Crude steel production in the Middle East increased by 1.3pct YoY, reaching 44.1 mln tons during the first ten months of 2024, according to the World Steel Association. In October 2024, the region saw a 5.4pct YoY…
The steel industry in Pakistan is facing an unprecedented crisis, with many mills shuttered and the remaining ones operating at just 20-30pct capacity due to soaring production costs and collapsing demand. Industry…
Pakistan's scrap imports declined by 4.83pct YoY in October 2024, according to data from the Pakistan Bureau of Statistics. The country imported 228,217 tons of scrap during the month, down from 197,421 tons in October…
Pakistan's finished steel imports surged by 23.22pct YoY in October 2024, according to the Pakistan Bureau of Statistics. The country imported 327,872 tons of finished steel during the month, up from 266,089 tons in…
Access to finance remains an issue for the steel industry's net zero carbon target, so some delays could be seen in reaching targets globally, Ugur Dalbeler, vice president of the Turkish Steel Exporters' Union (CIB)…
UAE developer Arada has begun work on the Armani Beach Residences at Palm Jumeirah, Dubai, following the award of a contract to Dubai-based International Foundation Group (IFG). The contract covers enabling works for…
Saudi Arabia's Retal Urban Development Company has signed a USD 30 mln contract with its subsidiary, Building Construction Company, to construct 60 residential units in the Al-Mohammedia district of Jeddah. The 30-month…
Turkish steel producer Kardemir has decreased its rebar prices in the latest pricing update. The company is now offering 12-32 mm rebar at TRY 20,415 (USD 591) per ton EXW, down from TRY 20,920 (USD 609) per ton EXW set…
UAE's Emirates Steel, part of the EMSTEEL group, has partnered with Fastmarkets in a five-year strategic agreement, naming Emirates Steel the "Regional Host Sponsor" for the Middle East Iron & Steel Conference from 2024…
Saudi Arabia's National Housing Company has announced the launch of 11 key residential projects in Khuzam area of capital Riyadh featuring over 10,000 units - ranging from villas to apartments. The new projects include…
Project tenders issued by Oman jumped by more than 50 pct in 2024 as the Gulf state is using a surge in oil prices to increase development spending. Awarded projects have also recorded a sharp rise over the past few…
Turkish pipe producer Borusan Pipe recorded a significant drop in net profits for the first nine months of 2024, citing difficult market conditions. Net profit fell to USD 11 mln, a steep decline from USD 149 mln in the…
Turkey imported approximately 8.14 mln tons of iron ore during the first nine months of 2024, marking a 26pct increase compared to the same period last year, according to data from the Turkish Statistical Institute…
Samsung E&A, a total solutions provider for the global energy industry, has announced that its joint venture with Taiwanese group CTCI has secured a major contract from Qatar-based Ras Laffan Petrochemicals for setting…
Turkish steelmaker Karabuk Demir Celik (Kardemir) reduced its net losses during the first nine months of 2024, according to its financial report. The company reported a net loss of TRY 2.963 bln (USD 85.9 mln) for…
Misr National Steel (Ataqa) reported an increase in net profit after tax to EGP 695.87 mln (USD 14 mln) in the first nine months of 2024, up from EGP 593.57 mln in the same period last year. Sales revenue for…
Built Industrial Company, a subsidiary of Saudi-listed Ladun Investment Company, has secured a USD 171.7 mln construction contract with the Real Estate Development Fund for the 'The Point Abha' project in Abha city, as…
Scrap import prices in Turkey fell this week influenced by weak demand for finished steel. Current prices are assessed at USD 350-360 per ton CFR, down from USD 360-365 per ton CFR last week. The ongoing decline in…
Tubacex Group, a global leader in advanced industrial solutions for energy and mobility, has finalized a USD 200 mln strategic partnership with Mubadala Investment Company, Abu Dhabi's sovereign investor, in its Oil…
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