Middle East Steel News
GCC HRC supply tightens as logistics challenges limit sourcing options
GCC HRC availability is tightening as shipping disruptions and elevated freight costs make Chinese material increasingly difficult to secure, while Indian mills are gaining...
Middle East steel production decline persists in July
Middle East crude steel production declined 13.4pct YoY to 3.8 mln tons in July 2026, according to World Steel Association data. During the January-July...
Watani Steel renews working capital facility with Alinma Bank
Saudi Arabia's Watani Iron Steel Co. (Watani Steel) has renewed a Sharia-compliant SAR 25 mln (USD 6.7 mln) banking facility with Alinma Bank to...
Alshehili Metal Industries reports lower profit in H1
Saudi Arabia's Alshehili Company for Metal Industries reported a 37.3pct YoY decline in revenue to SAR 21.1 mln (USD 5.6 mln) in the six...
Scrap import prices hold steady amid unchanged market fundamentals
Turkey's imported scrap prices remained range-bound this week, with Turkish steel mills showing limited buying interest amid weak finished steel demand and cautious purchasing....
Global Steel News
Iron ore futures rise as cost support offsets supply pressure
Iron ore futures strengthened on Monday as firmer steel and raw material prices improved market sentiment, although rising iron ore supply and weak underlying...
Baosteel H1 profit under pressure from weak steel demand, higher costs
China's Baoshan Iron & Steel (Baosteel) reported a 6.3pct YoY decline in net profit attributable to shareholders to 4.57 bln yuan (USD 680 mln)...
NS-SUS commissions new coil-handling cranes at Rayong plant
NS-Siam United Steel (NS-SUS) has completed commissioning and final acceptance of two new 25-ton Danieli coil-handling cranes at its Plant 3 in Rayong, Thailand,...
JFE Steel joins project to develop large-scale CCS hub at Mizushima
JFE Steel and five other companies have signed an agreement with the Japan Organization for Metals and Energy Security (JOGMEC) to conduct design work...
Iron ore futures consolidate as supply risks offset weak steel demand
Iron ore futures were broadly stable on Friday as near-term supply concerns provided some support, while weak steel demand and squeezed mill margins continued...