News List
African Summit in Tehran, April 26
Iran will host economy ministers from more than 40 African countries at the second Iran-Africa International Summit set to be held later this month, an official with the Trade Promotion Organization (TPO) said. The deputy head of the international businesses promotion office of the TPO pointed to the significance of trade with African states…
China’s Q1 rebar output slips 9.5% YoY
In the first quarter of 2024, China produced 50.02 million tonnes of rebar in total, lower by 9.5% on year, according to the latest data from the country’s National Bureau of Statistics (NBS) on April 17. For March alone, the country’s rebar output declined by a larger 22.5% on year to 17.79 million tonnes,…
Coal Continues to grow despite pledges for Clean Energy
Coal was more popular than ever in 2023, despite big promises from many world powers to curb production and use in favour of cleaner alternatives. Mainly owing to China and India, the generation of electricity from coal production increased last year, as several new plants came online across Asia. While countries such as the…
Foreign investment in Iran reaches $11.6b in 2 years
The Iranian government has managed to attract $11.6 billion of foreign investment in various sectors since the administration took office in 2021, Shana reported. As reported, in the mentioned figure the share of the oil and gas projects has been $4.8 billion which means the oil industry accounted for 41 percent of the country’s…
Drop in Scrap Prices in Turkey
The latest heavy import scrap price in Turkey has dropped 2 dollars daily and 382 USD per ton CFR has been recorded. The market outlook is not so favorable and the latest deals were finalized with a drop in price, so the average of the market also faced a price decline. Since now, suppliers…
Monthly Record of Sponge Iron Production Broke by Shadegan Steel Industry Company
Due to the efforts of the employees of Shadegan Steel Industry Company, the monthly record of sponge iron production was broken in April 1403 at a rate of 79,301 tons. It is worth mentioning that the previous monthly record for production of sponge iron in Shadegan Steel Industry Company was 79,053 tons.
Iron ore production improvement in Brazilian giant mining
In the first three months of this year, the production of iron ore by Vale Mining Company in Brazil showed 6.1% growth compared to the same period last year due to increasing the sales and production of the main mines in northern Brazil. Production during this period was 70.84 million tons. Vale’s iron ore…
Iron ore extends gains on expectations of growing China demand
Iron ore futures rose for a second straight session on Thursday, underpinned by heightened expectations of growing demand in top consumer China on the back of improved downstream demand and steel margins. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 3.07% higher at 874 yuan ($120.75)…
Iran’s Steel Output Surpasses 32 Million Tons in One Year
Iran’s major steel companies produced 32 million tons of steel products in the previous Iranian calendar year (March, 21, 2023 to March 19, 2024), showing a 5.5 percent hike compared to a year earlier. This is the highest production volume in the steel history of the country, the Iranian Steel Producers Association (ISPA) reported.…
Tranter contributes to fossil fuels reduction in steel production
Tranter has secured an order for a cutting-edge direct reduced iron (DRI), green steel plant set to be constructed in Germany. The DRI plant reduces its carbon footprint significantly by using green hydrogen and carbon capture, helping to achieve NetZero goals by 2030. Tranter’s plate and frame heat exchangers will be used in the…
