News List
Implementation of the largest sponge iron project in the steel industry
With the completion of pre-commissioning in the development process of Zamzam 3 mega project in Khouzestan Steel Company, the largest sponge iron project in steel industry was settled in the final commissioning and production circuit by MMTE Group.The project named Zamzam 3 is the third experience of MMTE Group cooperation with Khuzestan Steel Company…
A look at the latest changes in the steel raw materials market
The latest price of imported iron ore in China dropped 80 cents to $129 a tonne CFR. The Chinese New Year holiday has begun, so the market is not active. In Turkey’s scrap import market, the recession of the country’s rebar export has severely affected the willingness to buy scrap. The latest…
EU steel exports down 3% y/y in January-November
In January-November 2023, steel exports (including semifinished products) from the European Union to third countries decreased by 3% compared to the same period in 2022. This is stated in the EUROFER Economic and steel market outlook 2024-2025, first quarter. Over 11 months, exports of rolled products decreased by 4% y/y, including flat products by…
Decline of steel products imports to the country / Domestic production is responsive
The statistics of the Association of Steel Producers regarding the amount of imports of steel products during the nine months of this year indicates that for the majority of steel items in the steel chain of the country, the amount of domestic production is responsive and there is no need for imports or…
German steel market sees prices remaining strong, production weaker
German steel traders and producers expected prices to remain strong during February, though the expectation was less firm month on month as mills tried to aim for higher prices but buyers held back, according to an S&P Global Commodity Insights survey. The February index for traders’ sentiment stood at 60 points, compared to 68.75…
Sponge iron export rises over 109% in 10 months on year
Iran’s export of sponge iron rose 109.9 percent during the first ten months of the current Iranian calendar year (March 21, 2023-January 20, 2024), as compared to the same period of time in the past year, Bahram Sobhani, the chairman of the Iranian Steel Producers Association (ISPA), announced. Direct reduced iron (DRI), also called…
Gold prices to hit $2,200 and a ‘dramatic’ outperformance awaits silver in 2024
Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. “We are expecting gold to be pushed higher by a Fed easing. Also this comes with a weaker dollar” said the investment bank’s precious metals strategist Joni Teves, who expects…
Steel products export up 5.1% in 10 months on year
Iran’s export of steel products rose 5.1 percent during the first ten months of the current Iranian calendar year (March 21, 2023-January 20, 2024), as compared to the same period of time in the past year, Bahram Sobhani, the chairman of the Iranian Steel Producers Association (ISPA), announced. The Iranian Steel industry has been…
China and Indonesia lead the world in stainless steel production / Chinese manufacturing, exports and imports in 2023
China produced 36 million tons of stainless steel. In 2023, exports from China exceeded 3 million tons and imports to China were about 2 million tons in 2023. In 2023, China’s stainless steel production increased by 12.6 percent from 2022 to 36 million tonnes. The data was published by the China Stainless Steel Association…
The first small scale LNG industrial unit to be built
The contract to provide the technology of Iran’s first small-scale LNG unit is being inked between the Oil Industry Research Institute and a steel company. Azim Kalantari Asl , while pointing out that storage is one of the compensate solutions of gas imbalance in the country, stated : underground storage is being done…
