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Saudi Steel Pipe Company signed SAR 300 million contract for offshore project

Steel Radar•February 03, 2026•1 min read

In a statement filed on Wednesday with the Saudi Stock Exchange Tadawul, the company said the agreement covers the supply of pipes for an offshore redevelopment project. The contract was signed on January 28, 2026, and has a duration of 11 months.

Under the terms of the agreement, Global Pipe Company will supply specialised line pipes designed to meet demanding offshore conditions and stringent technical specifications. Saudi Steel Pipe Company noted that the order highlights the company’s advanced manufacturing capabilities, technical expertise, and compliance with international quality standards.

The contract, whose financial impact is expected to be reflected in the fourth quarter of fiscal year 2026, is viewed as part of Saudi Pipes’ growth strategy focused on high value-added energy and infrastructure projects.

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China maintains leadership in shipbuilding in 2025

China maintains leadership in shipbuilding in 2025

According to official data released on Monday, China retained its status as the world’s leading shipbuilding nation in terms of total output as well as new and outstanding orders. Data from the Ministry of Industry and Information Technology showed that China’s shipbuilding output reached 53.69 million deadweight tonnes in 2025, marking an increase of 11.4% compared with the previous year. The increase further reinforced the country’s strong standing in the sector. The figures indicated that China’s manufacturing sector accounted for 56% of global shipbuilding output, allowing the country to maintain a clear lead in worldwide production. Outstanding orders totaled 274.42 million deadweight tonnes, representing 66.8% of the global total. New ship orders reached 107.82 million deadweight tonnes, corresponding to 69% of the global market. With this performance, China preserved its leading position in the global shipbuilding industry for the 16th consecutive year. The data underscored the

China maintains leadership in shipbuilding in 2025

Inflation rate determined as 30.65% in January

The Turkish Statistical Institute (TUIK) has released Türkiye’s first inflation data for 2026. Accordingly, the Consumer Price Index (CPI) increased by 4.84% month-on-month in January, while annual inflation stood at 30.65%. The increase based on twelve-month averages was recorded at 33.98%. In December of the previous year, inflation had increased by 0.89% on a monthly basis, while annual inflation was recorded at 30.89%. With the January data, a limited decline in annual inflation was observed. According to TUIK's data based on the 2025=100 CPI index, in January 2026 the CPI increased by 4.84% compared to the previous month, 4.84% compared to December of the previous year, 30.65% year-on-year, and 33.98% based on twelve-month averages. An analysis of the main expenditure groups shows notable annual changes in the three categories with the highest weights. Food and non-alcoholic beverages recorded an annual increase of 31.69%, transport increased by 29.39%, while housing, water, elect

Inflation rate determined as 30.65% in January

China's HRC output edges up again, prices largely steady

Posted on 03 Feb 2026 Hot-rolled coil (HRC) production among the 37 Chinese steelmakers regularly surveyed by Mysteel rose by 38,000 tonnes or 1.2% on week during January 22-28 to register 3.09 million tonnes, the latest survey results showed. Improved profitability among steel mills propelled more makers to restart idled rolling mills and banked blast furnaces during the survey week, causing HRC output to mount slightly. However, overall hot coil supply remained relatively low compared with the same time last year, with last week's output still lower by 4.4% on year, Mysteel Global noted. The HRC rolling capacity utilization rate among the sampled mills inched up by 0.97 percentage points on week to average 79% during the survey week, while their average operational rates stayed unchanged on week at 78.13%, according to the survey findings. On the demand side, manufacturing enterprises have slowed their production in response to weakening end-user demand and the approaching Chinese Ne

China's HRC output edges up again, prices largely steady

New financing offer for the manufacturing industry as TL 100 billion

It is stated that the primary objective of the program is to protect production and employment, and accordingly, it is planned to provide credit facilities on favorable terms, particularly for businesses experiencing difficulties in accessing finance. With the new support program, economic authorities aim to ease the financing pressure on the real sector and to secure the cash flow that manufacturing companies need in order to sustain their operations. The package is defined as a comprehensive framework that not only addresses short-term liquidity needs but also contributes to the preservation of production capacity. According to the announced program, all manufacturing industry enterprises operating in Türkiye are included within the scope of support. Regardless of their size, companies engaged in manufacturing will be able to apply for financing support under the specified conditions. The credit facility to be offered includes a 6 month principal repayment grace period and a maturity

New financing offer for the manufacturing industry as TL 100 billion

Saudi Steel Pipe Company signed SAR 300 million contract for offshore project

Saudi Steel Pipe Company announced that its subsidiary, Global Pipe Company, whose financial results are consolidated, has signed a supply contract valued at approximately SAR 300 million (USD 80 million) with Subsea Seven Saudi Limited. In a statement filed on Wednesday with the Saudi Stock Exchange Tadawul, the company said the agreement covers the supply of pipes for an offshore redevelopment project. The contract was signed on January 28, 2026, and has a duration of 11 months. Under the terms of the agreement, Global Pipe Company will supply specialised line pipes designed to meet demanding offshore conditions and stringent technical specifications. Saudi Steel Pipe Company noted that the order highlights the company’s advanced manufacturing capabilities, technical expertise, and compliance with international quality standards. The contract, whose financial impact is expected to be reflected in the fourth quarter of fiscal year 2026, is viewed as part of Saudi Pipes’ growth strateg

Saudi Steel Pipe Company signed SAR 300 million contract for offshore project

The US reduced its imports of rolled steel products by 18.7% m/m in November

Posted on 03 Feb 2026 According to the American Iron and Steel Institute (AISI), US steelmakers reduced their imports of rolled steel by 18.7% year-on-year – to 1.08 million tonnes in November 2025. Total steel imports (rolled products and semi-finished products) for the month fell by 5.2% month-on-month to 1.64 million tons. The largest volume of imports was accounted for by line pipes – 108,040 tons (+31.6% month-on-month), tinplate – 107.92 thousand tons (+17.5% month-on-month), hot-dip galvanized rolled products – 102.28 thousand tons (-28% month-on-month), and products for the oil industry – 98.89 thousand tons (-24.9% month-on-month). Finished products accounted for 66.2% of total imports for the month. In January-November, the US reduced its imports of rolled products by 15.4% compared to the same period in 2024, to 17.5 million tons. Total steel imports amounted to 23.66 million tons (-11.5% y/y). The main volumes of supplies are accounted for by products for the oil industry –

The US reduced its imports of rolled steel products by 18.7% m/m in November

Steel exports from Turkey grew by 12.5% y/y in 2025

Posted on 03 Feb 2026 In 2025, steel exports from Turkey showed steady growth of 12.5% compared to 2024, reaching 15.1 million tons. This is stated in a press release from the Turkish Steel Producers Association (TCUD). The value of exports last year increased by 4.3% y/y – to $10.2 billion. In December alone, shipments amounted to 1.4 million tons (+5.5% y/y) worth $898.9 million (+2.1% y/y), indicating continued activity at the end of the year. At the same time, imports of steel products also increased. In 2025, steel imports grew by 8.6% y/y – to a record 18.9 million tons, despite a slight decrease in value of 0.7% to $13.1 billion. In December, imports fell by 18.6% y/y in physical terms (1.5 million tons) and by 16.6% y/y in monetary terms ($1 billion), but this did not change the overall upward trend for the year. Russia and China remained the key sources of supply. Imports from Russia increased by 37.9% y/y – to 4.5 million tons, and from China by 13.3% – to 4.2 million tons. T

Steel exports from Turkey grew by 12.5% y/y in 2025

JISCO successfully commissions first integrated CSP® HSM line in Jiayuguan following upgrade and expansion, with full automation supplied by SMS group

Posted on 03 Feb 2026 On February 2, an official ceremony held at JISCO Carbon Steel in Jiayuguan, China marked the commencement of production on the world’s first integrated line combining hot strip mill (HSM) and compact strip production (CSP ® ) modes. The project has significantly enhanced JISCO’s operational flexibility, broadened its portfolio with higher value steel grades, and increased annual capacity from 2 million to 4.5 million tons. SMS group supplied the full automation scope for the line, enabling a rapid switchover between production routes and ensuring a fast ramp-up and stable performance from the very first coil, which itself was rolled on December 30, 2025. The world’s first combination of CSP ® short process technology with continuous HSM rolling gives JISCO Carbon Steel the ability to adapt its production to changing product mixes while maintaining high throughput. SMS’s integrated X Pact ® automation synchronizes billet scheduling and rolling rhythm between the C

JISCO successfully commissions first integrated CSP® HSM line in Jiayuguan following upgrade and expansion, with full automation supplied by SMS group

Hyundai Steel to lift global auto customers to 30% by 2030 with new steel

Posted on 03 Feb 2026 Hyundai Steel Co., South Korea’s second-largest steelmaker, plans to mass-produce a newer, upgraded automotive steel in the first quarter at the earliest, betting that lighter and stronger materials will help it expand deeper into the global car market. The steelmaker on Monday said it has completed development of its third-generation advanced high-strength steel (AHSS) for vehicles and is now testing the product with customers, including affiliates Hyundai Motor Co. and Kia Corp. Commercial production is expected to begin as early as March, the company said. With the new product, Hyundai Steel hopes to raise the share of auto steel sales to global automakers beyond Hyundai Motor and Kia to 30% by 2030, up from 19% in 2024. The figure stood at just over 10% in 2018. The company is also pinning high hopes on its first US steel mill in Louisiana , scheduled to break ground in the third quarter, as a cornerstone of its global expansion strategy. LIGHTER STEEL FOR ELE

Hyundai Steel to lift global auto customers to 30% by 2030 with new steel

China's steel PMI recovers in January

Posted on 03 Feb 2026 After dropping for two months, China's Purchasing Managers' Index (PMI) for the steel industry recovered slightly in January to register 49.9, according to the latest release from the CFLP Steel Logistics Professional Committee (CSLPC) published on January 31. The result represented a large 3.6% jump from December and just fell short of pushing the reading over the 50 threshold connoting growth, Mysteel Global notes. The sub-index for new steel orders recovered to 50.2 in January from December's 45.4, coming back to the expansion zone after five months, according to the CSLPC release. Although most outdoor construction activity has slowed down or fully halted due to low temperatures and the upcoming Chinese New Year break, there were still some building contractors rushing to finish infrastructure projects during the month that stimulated downstream demand and boosted steel orders, the CSPLC said. In addition, market participants have raised their expectations for

China's steel PMI recovers in January

Emissions in China’s steel industry rose by 4.4% y/y in December

Posted on 03 Feb 2026 In December 2025, Chinese steel enterprises belonging to the CISA industry association increased their total emissions by 4.41% compared to December 2024. This is evidenced by data from the association. Despite the increase, emissions of sulfur dioxide, particulate matter, and nitrogen oxides in waste gases decreased by 16.74%, 3.65%, and 19.35% year-on-year, respectively. Total energy consumption by participating companies in December decreased by 6.4% y/y. Total energy consumption per ton of steel increased by 4.4% y/y, and comparable consumption increased by 2.5% y/y. Electricity consumption per ton of steel increased by 6.2% y/y. Total electricity consumption decreased by 0.5% y/y. Own electricity production decreased by 1.4% y/y, and its share in the total balance decreased by 0.57 p.p. to 58.95%. Clean energy production increased by 46.9% y/y, including wind energy by 415.1% and solar energy by 42.2%. Water consumption by member companies increased by 3.6% y

Emissions in China’s steel industry rose by 4.4% y/y in December

SAIL posts 260% increase in net profit in third quarter of FY 2025-26

The company reported that net profit for the October to December period more than doubled to 374.03 crore rupees, compared with 141.89 crore rupees recorded in the same period a year earlier. According to a regulatory filing, total income increased by more than 11% year on year to 27,545.93 crore rupees from 24,723.43 crore rupees. SAIL chairman Amarendu Prakash stated that higher sales volumes, operating leverage and prudent financial management supported profitability. He emphasized that profit after tax for the first nine months of FY 2026 increased by 60% on a yearly basis, reflecting a significant improvement. He added that strong sales momentum, solid domestic demand and rising market penetration underpinned the performance. The company stated that despite volatility in input costs and an intense competitive environment, it maintained operating profitability through higher sales volumes, an optimized product mix and continued cost discipline. Profit after tax for the April to Dec

SAIL posts 260% increase in net profit in third quarter of FY 2025-26

Steel Radar

03 February 2026