News List
Fitch revises global GDP growth forecast in 2024 to 2.6%
The forecast for the growth of the Eurozone economy for the current year has been increased from 0.6 to 0.8% Fitch Ratings has upgraded its global economic growth forecasts for 2024 in its latest Global Economic Outlook. According to Fitch, the outlook has improved as confidence in Europe’s recovery prospects grows, China’s export potential…
Iran’s Economic Growth Rate Higher Than Those of Other Regional Countries: CBI Chief
Iran’s Economic Growth Rate Higher Than Those of Other Regional Countries: CBI ChiefIran’s economic growth rate is higher than many countries including neighboring and regional states, according to the latest statistics of the World Bank (WB), the governor of the Central Bank of Iran said. Speaking on the sidelines of a Cabinet meeting, Mohammad…
Iran’s House of Industrialists opens office in Balkan region
Iran’s House of Industrialists has opened an office in East Europe and Balkan region, according to the director of the House. Alireza Banihashemi said that these offices intend to create and give a boost to sustainable export markets, attract investors, transfer technology, and help the exports of technological services. He added that the office…
Situation of the market for steel raw materials
The latest price of imported iron ore of 62% purity in China fell by $1.5 daily to $106.15 per tonne dry CFR. Although the volume of purchases increased, the demand outlook is not favorable and the market is in a recession. The profit margins of steelmakers have improved compared to the first three months…
Iron ore struggles for direction as prospect of China steel output cut weighs
Iron ore futures pared early gains on Wednesday and struggled for a clear direction, as market discussions over potential steel production cuts in top consumer China weighed on prices of the key steelmaking ingredient. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.36% lower at 824 yuan…
The financial statements of the National Iranian Steel Company for the fiscal year ending March 20, 2024 were approved
The annual ordinary general meeting of the shareholders of the National Iranian Steel Company for the fiscal year ending March 20, 2024, approved the company’s financial statements. According to the Public Relations of NISCO, the meeting was held in the presence of Movassaghi Nia, Deputy Minister of Industry,Mine &Trade and Chairman of the Board…
Iron ore rebounds after China’s latest move to spur property sector
Iron ore futures prices ticked up on Thursday, helped by Beijing’s latest move to revive its struggling property sector, although lacklustre near-term demand and persistently high portside stocks in top consumer China capped gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.93% higher at 817 yuan…
Managing Director of National Iranian Steel Company visited two steel complexes in Miyaneh
Managing Director of National Iranian Steel Company and the accompanying delegation visited Azerbaijan Steel Company and Miyaneh Steel Complex According to the Public Relations of National Iranian Steel Company, Dr. Ghobadi Samani visited the DRI unit of Miyaneh and the under construction steel making project of this complex and was informed about the measures…
Forget copper and gold as steel-making raw material outperforms
Manganese, an essential steel-making ingredient, has outstripped copper, gold and many other commodities this year after a cyclone halted exports from the world’s second-largest mine in March. Prices of 44% grade manganese ore have almost doubled since the start of the year, beating gains of 15% in copper, 12% in gold and almost 30%…
China’s strong iron ore imports contrast with weak steel output
The strength in China’s iron ore imports this year stands in stark contrast to the weakness in steel production and demand, setting up a dilemma as to how the contradiction will be resolved. China, which buys about 75% of global seaborne iron ore, imported 102.3 million metric tons in May, according to customs data,…
