Qatar Steel posted a 26pct YoY decline in net profit for the first half of 2025, as weaker steel prices weighed on earnings, according to its parent company Industries Qatar (IQ).
Net profit fell to QAR 265 mln (USD 72 mln) from QAR 356 mln a year earlier, with average steel prices down 13pct YoY to USD 475 per ton. The company said persistent global overcapacity, particularly in China, led to increased exports and downward pressure on prices.
Revenue, however, rose 20pct to QAR 2.3 bln (USD 625 mln), driven by a 37pct jump in sales volumes to 1.332 mln tons following the restart of previously mothballed production facilities.
Market conditions remain challenging, with demand softening across key steel and metal markets, ongoing oversupply, and continued weakness in construction activity due to reduced real estate investment and project delays in major economies, the company added.
Industries Qatar, established in 2003, operates in petrochemicals, fertilizers, and steel. Qatar Steel, a fully owned subsidiary of IQ, is part of the group’s significant investments in the steel industry. The group also includes three subsidiaries, Qatar Steel Company FZE, Qatar Steel Industrial Investment Company, and Qatar Steel Rebar Fabrication Facility, as well as three associates: Foulath Holding, Qatar Metals Coating Company, and Solb Steel.
1 USD / 3.67 QAR
