News List
China’s steel market expected to weaken in July
China’s National Development and Reform Commission (NDRC) released its latest survey results on key steel wholesale markets nationwide including South China, and the Shanghai and Tianjin Municipalities which indicated subdued expectations for the steel market this month. The survey, which measures expectations against six key indices, found that the Sales Price Expectation Index and…
Iron ore climbs to 1-month high on robust demand
Iron ore futures extended gains into a fifth straight session on Thursday to erase most losses from the previous month, underpinned by robust near-term demand, improved steel fundamentals, a weaker U.S. dollar and persistent hopes of more stimulus from top consumer China. The most-traded September iron ore contract on Chinas Dalian Commodity Exchange (DCE)…
Growth of Iran’s non-oil exports/ up 27%
Special trade envoy to Iraq said that the country’s export of goods to Iraq in the first three months this year of 1403 in the Iranian calendar(started March 21, 2024) reached about $3 million, showing a 27% hike. Farzad Piltan, who is an adviser to the head of the Trade Promotion Organization of Iran…
Copper price to retest $10,000/t soon
Copper prices may retest the $10,000/tonne mark in the coming weeks due to investor optimism over policy support in China, according to analysts from Citigroup. The world’s biggest consumer is widely anticipated to introduce further stimulus to upgrade its renewable energy infrastructure at the Third Plenum meeting in mid-July. These additional measures, specifically targeting…
Iran, Russia ink monetary agreement
Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin said a monetary contract has been signed between Tehran and Moscow for carrying out bilateral trade exchanges. Farzin told reporters on Saturday that he and his Russian counterpart had a meeting in Saint Petersburg last Thursday where they finalized agreements already signed between the…
Turkish imported scrap remains silent on impact of tremor
Turkish imported scrap buyers and steelmakers are on a pause in their trade activities throughout the week. This week’s trade flow was disturbed due to the unwanted disaster occurred in the country earlier this week (6 February 2023). Turkish mills reported some deals late last week, and no scrap trades were reported recently. Even…
A comprehensive database regarding the mineral reserves is necessary
The Director General of the Office of Geosciences Databases of the Geological Survey of Iran stated: “With the aim of integrating information and data related to the field of geosciences in the country, setting up the “Comprehensive Geosciences Database of the Country” in cooperation with the mining departments of the Ministry of industry, mine…
Global Metallurgical Coke Exports Down 5% In 2023
The world’s marine exports of metallurgical coke decreased by 5% last year to 27 million tons. It is worth mentioning that in the first six months of last year, the rate decreased by 12%, but the second half of the year increased. The reason for the decline in the first half of the year…
Trade with 56 Organization of islamic Cooperation members hit $8.6b in Q1
Iran’s trade with member states of the Organization of Islamic Cooperation (OIC) reached $8.6 billion in the first three months of the current calendar year (March 20–June 20), the head of the Islamic Republic of Iran Customs Administration (IRICA) has announced. Mohammad Rezvanifar stated that the trade exchanges between Iran and OIC member states…
The 21st international steel industries,metallurgy,metal mines machinery& related industries and casting opened in Tabriz
According to the Public Relations of the National Iranian Steel Company, Metafo is an important and strategic industrial event that is held annually in the permanent location of Tabriz International Exhibitions. According to the report, this exhibition, as an effective communication bridge that provides a suitable field for industry activists to get familiar with…
