Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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292 news items in Scrap. Show all
Riyadh Steel Co. has signed a Shariah-compliant short-term credit facility agreement with Saudi Awwal Bank (SAB) valued at SAR 10 mln (USD 2.66 mln), according to a statement to Tadawul. The one-year facility is secured…
Turkey's scrap import prices dropped this week to USD 355-360 per ton CFR, down from USD 365-370 per ton CFR last week. The decline is attributed to negative market sentiment caused by slow finished steel demand in the…
Saudi Arabian long steel producer Riyadh Steel reported a slight increase in net profit for the first half of 2024. The company's net profit rose by 0.5pct YoY to SAR 2.53 mln (USD 0.67 mln), according to a recent stock…
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…
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…
Sims Limited has announced a binding agreement to sell its UK metal business to Unimetals Group Limited for approximately USD 249 mln in after-tax cash proceeds, including retained working capital. The final amount will…
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…
Turkey's scrap import prices remained steady at USD 390 per ton CFR this week due to limited buying activity. This stagnation is attributed to lower billet import offers and weak demand for Turkish finished steel in the…
In June 2024, Pakistan's scrap imports fell by 6.65pct YoY, according to the Pakistan Bureau of Statistics. The country imported 216,809 tons of scrap that month, down from 232,245 tons in June 2023. This marks the…
Turkey's scrap import prices held steady this week at USD 390 per ton CFR, as Turkish mills shifted their attention on finished steel sales. Scrap buying activity was sluggish due to weak demand for finished steel and…
Indian Finance Minister Nirmala Sitharaman has proposed eliminating the import duty on ferro-nickel, a key raw material for stainless steel production, and extending the duty exemption on ferrous scrap imports. "To…
Turkey's scrap import prices remained unchanged this week in a quiet market. Turkish mills postponed buying activity due to a slowdown in demand in the finished steel segment. Scrap import prices in Turkey are assessed…
SSAB and Danieli have signed an Early Service Agreement (ESA) for the pre-engineering phase of the Lulea mini-mill project in Sweden. Danieli will provide a highly automated mini-mill solution featuring two electric arc…
Turkey's scrap import prices remained stable as buying activity slowed significantly. This slowdown was driven by weak demand in the finished steel segment and suppliers' resistance to lowering prices. Turkish finished…
The global long steel products market is increasingly unstable, with China moving steel billets at the lowest prices. Chinese finished products dominate most markets in both long and flat segments, with no signs of…
Turkey's scrap import prices increased further this week as steel mills booked new cargoes at higher rates. Scrap import prices in Turkey are now assessed at USD 390 per ton CFR, up from USD 385-390 per ton CFR last…
Turkey's scrap imports exhibited significant changes in May 2024, rising 4.2pct YoY and 20pct month-on-month to reach 1.8 mln tons. The United States remained Turkey's primary source of scrap imports, although imports…
Pakistan's scrap imports surged by 50pct YoY in June 2024, according to the Pakistan Bureau of Statistics. The country imported a total of 250,734 tons of scrap during the month, compared to 167,075 tons in the same…
In June 2024, Pakistan saw a significant surge in finished steel imports, with a 67.6pct YoY increase, according to data from the Pakistan Bureau of Statistics. The country imported 302,412 tons of finished steel during…
Turkey's scrap import prices remained stable as Turkish steel mills paused buying activity due to the Eid holidays. Scrap import prices in Turkey are assessed at USD 379-382 per ton CFR. Demand for Turkish finished…
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