Qatar Steel, the steel subsidiary of Industries Qatar, reported a strong operational and financial performance in 2025, supported by a sharp increase in production and sales volumes following the restart of key facilities, despite softer average steel prices during the year.
According to Industries Qatar’s full-year financial disclosure, Qatar Steel’s production rose 26pct YoY to 5.53 mln tons in 2025, driven by the restart of one direct reduction (DR) facility in the fourth quarter of 2024 and a steel melting unit in the first quarter of 2025. Improved plant availability enabled the producer to achieve its highest-ever annual steel sales, with shipments climbing 42pct YoY to 2.9 mln tons
Steel segment revenue increased 29pct YoY to QAR 5.12 bln (USD 1.4 bln), while net profit rose 26pct to QAR 713 mln (USD 196 mln), supported mainly by higher volumes and improved operating income. This growth came despite a 9pct decline in the average selling price to USD 485 per ton, reflecting softer global steel prices.
In the fourth quarter of 2025, Qatar Steel’s production increased 2pct quarter on quarter to 1.50 mln tons, while revenue rose 6pct to QAR 1.45 bln (USD 0.39 bln), despite a slight decline in sales volumes. Net profit surged to QAR 368 mln (USD 101 mln) in Q4, compared with QR 80 mln in Q3, largely due to higher prices and a one-off reversal of impairment on previously mothballed steel assets, which have since returned to operation
The steel segment also benefited from improved other operating income, including by-product sales, although performance from associates remained under pressure due to ongoing market volatility and softer pricing.
At group level, Industries Qatar reported a net profit of QAR 4.3 bln (USD 1.18 bln) in 2025, down 8pct YoY, as lower non-operating income offset stronger operating results. Fertilizers remained the largest earnings contributor, while petrochemicals weighed on overall profitability.
Looking ahead, Qatar Steel is expected to benefit from continued infrastructure-led demand in the Gulf, although global steel market conditions are likely to remain mixed amid geopolitical risks, protectionist trade measures, and uneven recovery across major consuming regions.
Qatar Steel, a subsidiary of Industries Qatar, is a leading integrated steel producer and the first steel plant established in the Arabian Gulf in 1974. Based in Mesaieed, with a subsidiary in Dubai’s Jebel Ali Free Zone, it produces DRI/HBI, billets, rebars, and wire rods. The Mesaieed plant has an annual capacity of 2.35 mln tons of DRI/HBI, 2.57 mln tons of billets, and 1.8 mln tons of rebars, while the UAE unit produces 240,000 tons of wire rods and 300,000 tons of rebars. Qatar Steel also operates rebar fabrication and coating facilities and holds stakes in Q-Coat (Qatar), Foulath Holding (Bahrain), and Solb Steel (Saudi Arabia).
1 USD / 3.64 QAR
