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    Middle East Steel News

    Kardemir reduces rebar prices

    Long
    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...

    Emirates Steel named Regional Host Sponsor for ME Iron & Steel Conference until 2028

    ME Steel News
    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"...

    NHC launches 11 residential projects in Riyadh

    ME Steel News
    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...

    Tender value jumps 61pct in 2024 amid surge in development spending

    ME Steel News
    Project tenders issued by Oman jumped by more than 50 pct in 2024 as the Gulf state is using a surge in oil prices...

    Borusan Pipe reports sharp profit decline in Jan-Sep 2024 amid market challenges

    ME Steel News
    Turkish pipe producer Borusan Pipe recorded a significant drop in net profits for the first nine months of 2024, citing difficult market conditions. Net...

    Global Steel News

    Iron ore futures extend gains despite demand concerns

    China
    Iron ore futures extended gains for the third consecutive session on Wednesday, driven by expectations of economic stimulus. However, gains were capped by concerns...

    JSW Steel Piombino signs commercial agreement with Metinvest for rail mill project

    Expansions / Changes
    JSW Steel Italy S.r.l., a subsidiary of JSW Steel Ltd., has signed a commercial agreement with Metinvest Adria S.p.A., as announced in a press...

    British Steel launches major rail stocking hub in Scunthorpe

    Expansions / Changes
    British Steel, the UK's sole rail manufacturer, has opened a GBP 10-mln (USD 12.6 mln) rail stocking facility, the largest of its kind in...

    Ovako cuts emissions and energy use with furnace upgrade at Boxholm facility

    Expansions / Changes
    Ovako has reached a key milestone in its sustainable steel-making journey. In the summer of 2024, the furnace at its Boxholm facility in Sweden...

    Iron ore futures extend gains on stimulus hopes

    China
    Iron ore futures climbed on Tuesday, buoyed by market optimism over potential additional stimulus measures. Positive sentiment was sparked by a press briefing from...
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    STEEL PRICES (USD/MT)
    Product Previous Price Latest Price Origin Date Updated Graph
    HMS 80:20 Scrap 380-385 CFR Turkey 385-390 CFR Turkey Various 10/11/2024 Click Here
    Hot Rolled Coils (3mm) - Tier 1 Mills 525-535 CFR Jebel Ali 580-590 CFR Jebel Ali China 10/11/2024 Click Here
    Hot Rolled Coils (3mm) - Tier 3 Mills 510-520 CFR Jebel Ali 570-580 CFR Jebel Ali China 10/11/2024 Click Here
    Hot Rolled Coils (1.2mm) 585-595 CFR Jebel Ali 640-650 CFR Jebel Ali China 10/11/2024 Click Here
    Cold Rolled Coils (1mm) 570-580 CFR Jebel Ali 650-660 CFR Jebel Ali China 10/11/2024 Click Here
    Rebar 610-620 FOB 620-630 FOB Turkey 10/11/2024 Click Here
    Wire Rod 620-630 FOB 635-645 FOB Turkey 10/11/2024 Click Here
    Benchmark Prices  
    Billet 525-535 EXW 515-525 EXW UAE 9/13/2024 Click Here
    Rebar - 10-32 mm 666-669 CPT 666-669 CPT UAE 9/23/2024 Click Here
    Beams - S275JR 710-720 EXW 700-710 EXW UAE 9/13/2024 Click Here
    Rebar - 12-32 mm 631 CPT 613 CPT Saudi Arabia 9/26/2024 Click Here
    Wire Rod - 6.5-16 mm 648 CPT 630 CPT Saudi Arabia 9/26/2024 Click Here
    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.

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