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    Middle East Steel News

    Kardemir cuts rebar prices

    Long
    Turkish steel producer Kardemir has reduced its rebar prices in the latest pricing update. The company is now offering 12-32 mm rebar at TRY 20,920...

    Rebar production and sales climb in Jan-Sep 2024 amid infrastructure growth

    Egypt
    Egypt's rebar production grew by 11.3pct YoY to 6.403 mln tons in the first nine months of 2024, according to a local news report. Rebar...

    Ta’ziz awards over USD 2 bln EPC contracts for key infra projects in Abu Dhabi

    ME Steel News
    Ta'ziz, a joint venture between Adnoc and ADQ, has awarded over USD 2 bln in engineering, procurement, and construction (EPC) contracts for infrastructure development...

    HEISCO submits lowest bid for tube replacement project at Mina Al-Ahmadi Refinery

    Kuwait
    Kuwait's Heavy Engineering Industries and Shipbuilding Company (HEISCO) reported it had made the lowest bid for tube replacement at Mina Al-Ahmadi oil refinery in...

    Scrap imports grew 6 pct in Jan-Sep 2024 YoY

    Import / Export
    Turkey imported 14.9 mln tons of scrap in the first nine months of 2024, a 6.3pct increase YoY, according to the Turkish Statistical Institute...

    Global Steel News

    Iron ore futures decline amid uncertain demand outlook

    China
    Iron ore futures fell on Wednesday as demand outlook remained uncertain, despite hopes for additional stimulus measures. Rising iron ore inventories, increased imports from major...

    Welspun secures pipe supply orders in U.S. for natural gas pipeline projects

    Global Steel News
    India's Welspun Corp announced it has secured two major orders in the U.S., totaling INR 1,300 crore (USD 154.5 mln), to supply coated HSAW...

    SteelAsia boosts rebar exports to Canada

    Expansions / Changes
    SteelAsia Manufacturing Corporation, a major steel producer in the Philippines, recently shipped 14,200 tons of high-strength rebar valued at USD 8.8 mln to Canada...

    Feralpi completes major revamp of billet caster at Lonato del Garda plant

    Expansions / Changes
    Italian steel producer Feralpi Siderurgica, part of the Feralpi Group, has granted the final acceptance certificate (FAC) to Primetals Technologies for the successful revamp...

    Iron ore futures rise on optimism for additional stimulus from Beijing

    China
    Iron ore futures rose on Tuesday, supported by optimism for additional stimulus measures from Beijing, though demand concerns continued to weigh on the market. Chinese...
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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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