Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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Al Jazeera Steel Products Co. SAOG reported a 13pct increase in standalone net profit for the first half of 2026, while consolidated group profit declined by 6pct, reflecting weaker sales volumes and challenging market conditions. The…
Jindal Saw Limited's operations in the Middle East continue to face disruption from the regional conflict, affecting order execution, capacity utilization and logistics, according to comments made during the company's Q2 FY27 Earnings…
Saudi Arabia's Watani Iron Steel Company reported a net profit of SAR 31.8 mln (USD 8.5 mln) for the first nine months of 2026, compared with a net loss of SAR 3.55 mln in the corresponding period last year. Revenue increased by 53.2pct…
Pakistan's Mughal Iron & Steel Industries Limited reported a 78.2pct YoY decline in consolidated net profit to PKR 201.4 mln (USD 727,000) for the quarter ended September 30, 2026, compared with PKR 925.7 mln a year earlier. Net sales fell…
The global long steel market has deteriorated slightly, with demand remaining weak and relatively stable, while fluctuations in scrap prices continue to influence rebar prices, according to the International Rebar Producers and Exporters…
Saudi Arabia's Arabian Pipes Co. reported a 65.5pct YoY decline in net profit to SAR 35.27 mln (USD 9.4 mln) in the first nine months of 2026, as lower sales volumes and higher shipping costs weighed on its performance. Revenue fell…
Pakistan's Amreli Steels Ltd reported a net loss of PKR 60.57 mln (USD 219,000) in the quarter ended September 2026, compared with a loss of PKR 790.36 mln in the same quarter last year. Revenue increased sharply to PKR 10.45 bln (USD 37.7…
South Korea's HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has reiterated its intention to participate as a primary strategic investor in a proposed USD 4 bln greenfield shipyard at Thoothukudi, Tamil Nadu, as India and South…
Vietnam's Hoa Phat Group reported a 104pct YoY increase in after-tax profit to VND 23.75 trillion (USD 920 mln) in the first nine months of 2026, exceeding its full-year target by 8pct. Revenue rose 54pct to VND 171.54 trillion (USD 6.65…
South Korea's Hyundai Steel Co. reported consolidated net profit of KRW 84 bln (USD 63 mln) in the third quarter of 2026, up from KRW 18 bln a year earlier and KRW 12 bln in the previous quarter. Operating profit reached KRW 87 bln (USD…
Germany's Salzgitter AG has raised its earnings guidance for 2026 following stronger-than-expected results in the first nine months and improved performance in its steel production and trading businesses. The group recorded external sales…
Saudi steelmakers Watani Iron Steel Co. and Ajeej Steel & Manufacturing Co. expect higher operating costs following revised electricity tariffs scheduled to take effect on January 1, 2027. Changes to water tariffs are not expected to have…
Pakistan’s Crescent Steel and Allied Products Ltd reported a consolidated net loss of PKR 128.8 mln (USD 467,000) for the first quarter ended September 30, 2026, compared with a net profit of PKR 563.1 mln (USD 2.04 mln) a year earlier, as…
Fastmarkets’ Middle East Iron & Steel (MEIS) 2026 conference will take place in Dubai on November 16-18, bringing together senior executives from across the steel value chain to discuss regional growth, trade flows and investment…
India's Directorate General of Trade Remedies (DGTR) has recommended extending anti-dumping duties on imports of seamless steel tubes, pipes and hollow profiles from China for a further five years, following a sunset review that found…
Oman's Al Jazeera Steel Products Co. SAOG reported an 8pct YoY decline in net profit after tax to OMR 5.99 mln (USD 15.8 mln) in January-September 2026, according to its initial unaudited financial results. The company's sales value…
Pakistan's International Steels Limited (ISL) reported a 256pct YoY increase in profit after tax to PKR 2.21 bln (USD 7.97 mln) for the quarter ended September 30, 2026, compared with PKR 620.3 mln in the same quarter last year. Revenue…
Saudi Arabia's Riyadh Steel Co. expects revised electricity tariffs to increase its annual energy costs by approximately SAR 1.365 mln (USD 0.36 mln) in 2027, while changes to water tariffs are not expected to have a material financial…
China's Baoshan Iron & Steel Co. (Baosteel) reported a 15.3pct YoY decline in net profit to 6.74 bln yuan (USD 1.01 bln) in January-September 2026, despite a 5.7pct increase in revenue to 245.65 bln yuan (USD 36.88 bln). The company…
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