Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Turkey's import scrap market extended its upward trend this week, supported by firm supplier sentiment and high freight costs. HMS 1&2 (80:20) import prices were assessed at USD 410-415 per ton CFR, up USD 5-10 per ton…
India-based Jindal SAW Ltd. said its board has approved a proposal to establish an additional longitudinal submerged arc welded (LSAW) pipe facility in Saudi Arabia through its joint venture. The expansion will be…
China's Baoshan Iron & Steel Co. (Baosteel) is reassessing its planned steel joint venture in Saudi Arabia amid rising geopolitical risks linked to tensions in the Middle East, according to a Reuters report. The…
Turkey-based Toscelik Spiral Boru has won a tender for the supply of steel pipes awarded by Ankara Metropolitan Municipality's water authority (ASKI), according to local media reports. The tender covers the procurement…
Pakistan-based Agha Steel Industries Limited reported improved financial performance for the nine-month period ended 31 March 2026, with losses narrowing amid lower finance costs and cost control measures. Net turnover…
Jordan's Ministry of Water and Irrigation has announced plans to establish a USD 125 mln steel pipe manufacturing facility through a US-Indian joint venture, aimed at supporting the National Water Carrier Project and…
United States Steel Corporation plans to invest USD 1.9 bln to build a new direct reduced iron (DRI) facility at its Big River Steel Works in Osceola, Arkansas. The project will be the first DRI facility of its kind in…
Hyundai Steel, together with POSCO, has advanced its planned US steel investment through its joint venture Hyundai-POSCO Louisiana Steel (HPLS), following the signing of a long-term power supply agreement with Entergy…
Saudi Arabia's Saudi Iron and Steel Company (Hadeed) has increased prices for its long steel products for May production. Rebar (12-32 mm) prices were raised by SAR 100 (USD 27) to SAR 2,900 (USD 774) per ton, while…
Turkish steel producer, Erdemir Group reported a 9.4pct YoY decline in profitability in the first quarter of 2026, according to its latest financial results. Net profit fell to TRY 405.8 mln (USD 9.0 mln) from TRY 447.9…
Pakistan's Amreli Steels Limited reported a return to profitability for the nine-month period ended 31 March 2026, primarily supported by gains from loan restructuring. The company posted a net profit of PKR 868 mln…
Iron ore futures rose in the last session before the holidays on Thursday, supported by firm steel demand and stable manufacturing activity in China. China's manufacturing purchasing managers' index (PMI) stood at 50.3…
China's Baoshan Iron & Steel Co. reported weaker profitability in the first quarter of 2026, with net profit attributable to shareholders falling 8.6pct YoY to 2.23 bln yuan (USD 326 mln). Revenue rose 5.7pct YoY to…
India-based Vardhman Special Steels Limited (VSSL) has commissioned a new walking beam reheating furnace at its Ludhiana facility, enhancing its capability to produce high-quality special steel for the automotive…
Turkish steel producer, Kardemir has reduced rebar prices in its latest sales round. The company set prices for 12-32 mm rebar at TRY 26,815 (USD 595) per ton EXW, down from TRY 27,000 (USD 607) per ton in the previous…
Iron ore futures increased on Wednesday, supported by firm steel demand and cost pressures, although concerns over slowing steel production growth and rising supply limited gains. Chinese steel traders said domestic…
India and New Zealand have signed a free trade agreement (FTA), reducing tariffs on a wide range of goods, including iron, steel and raw materials used in steel production. Under the agreement, tariffs will be cut or…
US-based Electra has signed a joint development agreement with POSCO to advance and scale clean iron production technologies, alongside an investment from POSCO Investment. The partnership will focus on integrating…
France-based Saarstahl Ascoval, part of the Saarstahl Group, has entered into a long-term partnership with Mannesmann Precision Tubes to supply semi-finished steel for tube applications in the automotive and industrial…
Turkey-based Borusan Pipe said its US subsidiary Borusan Berg Pipe has secured around USD 100 mln in sales orders in the United States, according to a stock exchange filing. The orders cover large-diameter line pipes…
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