Friday, May 16, 2025
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    Middle East Steel News

    Scrap import uptrend continues on limited supply and restocking demand

    Long
    Turkey's scrap import market extended its upward trend this week, supported by a series of new bookings at higher price levels. Current import prices...

    Vale plans renewable energy switch for Sohar pelletizing operations

    Green Steel
    Vale has signed a Head of Agreement (HOA) with OQ Alternative Energy (OQAE) during Oman Sustainability Week, marking a key step in its strategy...

    Watani Steel’s net profit declines in Q1 2025 on weaker sales

    Long
    Watani Iron Steel Co. (Watani Steel) reported a net profit of SAR 2.9 mln (USD 0.77 mln) for the first quarter of 2025, down...

    Govt launches industrial city project in Basra

    Iraq
    Iraq's Minister of Industry and Minerals, Prof. Eng. Khaled Battal Al-Najm, has officially launched the Green Mountain Industrial City project in Basra. Developed in strategic...

    LSM sector shows modest growth in March

    Flat
    Pakistan's large-scale manufacturing (LSM) sector grew by 1.79pct YoY in March 2025, according to data from the Pakistan Bureau of Statistics (PBS). However, on...

    Global Steel News

    Iron ore futures retreat as demand concerns resurface

    China
    Iron ore futures slipped on Friday as cautious demand outlook weighed on market sentiment. Earlier in the week, commodity markets had rallied, supported by easing...

    ArcelorMittal confirms major EAF investment in Dunkirk amid EU steel reforms

    Expansions / Changes
    ArcelorMittal is set to invest approximately EUR 1.2 bln (USD 1.34 bln) in a new electric arc furnace (EAF) in Dunkirk, signaling a strong...

    Knauf Interfer boosts steel portfolio through acquisition of galvanizing firm

    Flat
    Knauf Interfer has acquired a majority stake in the H. D. Lenzen Group, based in Hagen, boosting its steel division by expanding into strip...

    Iron ore gains as trade truce boosts outlook, though demand worries persist

    China
    Iron ore futures posted gains on Thursday, supported by a positive near-term demand outlook following a major easing in trade tensions between the United...

    Tenaris enhances safety and automation at Ontario facility

    Canada
    Tenaris has invested USD 8 mln to upgrade safety and boost automation at its Sault Ste. Marie industrial center in Ontario, as part of...
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    STEEL PRICES (USD/MT)
    Product Last Updated Price Latest Price Origin Date Updated Graph
    HMS 80:20 Scrap Only for registered user Only for registered user Various

    2/21/2025

    		 Only for registered user
    Hot Rolled Coils (3mm) - Tier 1 Mills Only for registered user Only for registered user China 2/21/2025 Only for registered user
    Hot Rolled Coils (3mm) - Tier 3 Mills Only for registered user Only for registered user China 2/21/2025 Only for registered user
    Hot Rolled Coils (1.2mm) Only for registered user Only for registered user China 2/21/2025 Only for registered user
    Cold Rolled Coils (1mm) Only for registered user Only for registered user China 2/21/2025 Only for registered user
    Rebar Only for registered user Only for registered user Turkey 2/21/2025 Only for registered user
    Wire Rod Only for registered user Only for registered user Turkey 2/21/2025 Only for registered user
    Benchmark Prices  
    Billet Only for registered user Only for registered user UAE 2/14/2025 Only for registered user
    Rebar - 10-32 mm Only for registered user Only for registered user UAE 1/23/2025 Only for registered user
    Beams - S275JR Only for registered user Only for registered user UAE 10/25/2024 Only for registered user
    Rebar - 12-32 mm Only for registered user Only for registered user Saudi Arabia 1/29/2025 Only for registered user
    Wire Rod - 6.5-16 mm Only for registered user Only for registered user Saudi Arabia 1/29/2025 Only for registered user
    (USD/mt)
    FUTURES - 11 OCTOBER 2024
    Material
    Closing Price
    (in yuan)
    Difference from Night Session (pct)
    Difference from Previous Morning Session (pct)
    Wire Rod
    3,771
    0.77
    1.88
    HRC
    3,599
    0.62
    0.58
    Rebar
    3,468
    0.23
    0.75
    Stainless Steel
    13,990
    0.25
    0.18
    Iron Ore
    789
    1.15
    1.71
    Coke
    2,139
    1.28
    2.08
    Coking Coal
    1,484
    2.77
    3.20
    New (Renewed) Steel Companies on MEsteel
    Company Country Steel tons handled per year (kt) Brief Description
    RENEWABLE LIGHTING FACTORY FOR INDUSTRY Saudi Arabia 5-20 Supplier of Octagonal and Conical Steel Pole.