Qatar Steel, owned by Industries Qatar (IQ), is ramping up its hot-briquetted iron (HBI) sales in response to recent initiatives by the Chinese government aimed at stimulating the economy. The steelmaker is optimistic that these measures will enhance demand in the construction sector, which has faced challenges during the first half of 2024 due to sluggish demand from the Chinese property market.

This year, Qatar Steel has significantly increased its HBI sales in the merchant market, compensating for a decline in rebar shipments. The company is navigating a tough landscape marked by weak performance in the steel segment, primarily due to the muted demand from China's real estate sector.

As Qatar Steel looks to capitalize on potential improvements in steel demand driven by the Chinese government's economic strategies, it remains focused on enhancing its market position and adapting to the changing dynamics of the global steel industry.