Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
Got a story for the Middle East steel market? Submit news
213 news items from Pakistan. Show all
Pakistan's federal government is likely to extend the 5pct and 10pct regulatory duties on flat steel products until March 31, 2025, to protect the local steel industry, according to sources close to the Secretary of…
Pakistan's rebar producer, Dost Steels Limited (DSL), has been unable to resume commercial operations this year due to insufficient working capital, according to a stock exchange filing. Despite ongoing efforts…
VIS Credit Rating Company Limited has reaffirmed the entity ratings of Aisha Steel Mills Limited (ASML) at 'BBB+/A2' (Triple B Plus/A Two). The long-term rating of 'BBB+' reflects adequate credit quality with reasonable…
Crescent Steel and Allied Products Limited has been awarded a PKR 1.5 bln (USD 5.38 mln) contract, excluding sales tax, for the supply of 40-inch diameter coated steel line pipes. The company disclosed the development…
Pakistan's scrap imports fell by 12.5pct YoY in November 2024, according to data from the Pakistan Bureau of Statistics. The country imported 219,765 tons of scrap during the month, compared to 251,342 tons in November…
Pakistan's finished steel imports dropped by 18.25pct YoY in November 2024, according to the Pakistan Bureau of Statistics. The country imported 247,053 tons of finished steel during the month, down from 302,201 tons in…
Pakistan's Descon Engineering, a leader in engineering, power, and chemical sectors, has announced the establishment of Descon Engineering Arabia in Saudi Arabia in partnership with Olayan Saudi Holding Company (OSHCO)…
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…
China's Century Steel Mill has threatened to withdraw from its steel project in the Rashakai Special Economic Zone (SEZ), citing significant challenges, according to local media reports. The Rashakai SEZ, a flagship…
Fauji Foundation has officially withdrawn its Public Announcement of Intention (PAI) to acquire a controlling stake in Agha Steel Industries Limited, as confirmed by Integrated Equities Limited, the offer manager, in a…
Pakistan's Agha Steel Industries Limited reported a loss of PKR 1.81 bln (USD 10.2 mln) for the quarter ending September 30, 2024, compared to a profit of PKR 125.2 mln in the same period last year, according to a stock…
Pakistan's scrap imports rose by 4.68pct YoY in September 2024, as reported by the Pakistan Bureau of Statistics. The country imported 211,539 tons of scrap that month, compared to 202,078 tons in September 2023. In the…
In September 2024, Pakistan recorded a 36.55pct YoY increase in finished steel imports, according to the Pakistan Bureau of Statistics. The country imported 277,404 tons of finished steel, up from 203,149 tons in the…
VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of International Industries Limited (IIL) at 'AA-/A-1'. The 'AA-' rating reflects high credit quality with strong protection factors, while the…
The delay in implementing budgetary measures to modify the tax regime for steel producers sourcing local scrap from unregistered suppliers has cost the government over PKR 30 bln (USD 108 mln) since July. The measures…
Pakistani flat steel producers, International Steels Limited (ISL) and Aisha Steel, have raised prices for CRC and galvanized coil products by PKR 10,000 (USD 36) per ton in the domestic market, compared to their…
Crescent Steel and Allied Products Limited has announced that it has secured a contract from Sui Northern Gas Company Limited (SNGPL), according to a filing with the Pakistan Stock Exchange (PSX). SNGPL has awarded…
The board of directors of Crescent Steel & Allied Products Limited has approved, pending finalization of terms and conditions and the signing of an agreement, the sale of the plant, machinery, and pre-engineered…
“Premium Content” marks a news item that needs a subscription to read in full.
