News List
Nippon Steel agrees to buy US Steel for $14.1 billion
Nippon Steel Corp. will buy United States Steel Corp. for $14.1 billion to create the world’s second-largest steel company — and the biggest outside of China — with a key role in supplying American manufacturers and automakers. The deal ends months of uncertainty over the future of US Steel, an icon of American industry,…
China 2023 steel output set to rise despite property woes
China’s steel output is expected to rise for the first year in three in 2023 as a soft domestic property sector is compensated by strong vehicle manufacturing and rising exports. China, which makes about 55% of the world’s steel, produced 874.7 million metric tons in the first 10 months of the year, up 1.4%…
Gold gains on weaker yields; U.S. inflation report in focus
A view of ingots of 99.99 percent pure gold, which are placed in a workroom, at Novosibirsk Refining Plant, Russia’s leading gold refining and bar manufacturing plant, in Novosibirsk, Russia on September 15, 2023. A view of ingots of 99.99 percent pure gold, which are placed in a workroom, at Novosibirsk Refining Plant, Russia’s…
1.4% increase in global coal demand
The International Energy Agency (IEA) stated: global coal demand will rise 1.4 percent this year, surpassing a high record of 8.5 billion tonnes for the first time. While coal demand in the United States and the European Union has fallen by 20 percent this year, coal use remains very strong in emerging economies, demand…
Global coal demand set to fall as China uses more renewables
Global coal demand is likely to have peaked this year, and could drop by about 2% over the next three years as China brings more renewable energy sources online, the International Energy Agency said Friday. It’s the first time the Paris-based agency has predicted a drop in appetite for the dirty fuel over a…
Iran to host ICCIA general assembly in 2024
The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is going to host the 40th general assembly of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) in 2024. The decision was made during the 39th meeting of the ICCIA general assembly which was held in Qatar’s capital Doha on Saturday, the ICCIMA…
Beta testing of 2nd phase of Baft Steel’s DRI plant was started
According to the report of public relations of IMIDRO,2nd phase of Baft Steel’s DRI plant with production capacity of 800 thousand tons of DRI per year entered the beta testing stage. By operating the 2nd phase, annual DRI production capacity of Baft Steel will increased from 800 to 1,600 thousand tons. Likewise, sustainable direct…
With consecutive and stormy record- breaking/ Golden Autumn of Khouzestan Steel Company
In recent months and weeks, every day news of record-breaking in the steel company of Khuzestan is released. Breaking the record of production, sales and exports are considered as promising news which these days are published by various units of this large company: Record number of melting furnace number four in Khuzestan Steel…
Gold, silver rally as Federal Reserve leans surprisingly easy
Gold and silver prices sharply up in midday U.S. trading Thursday, in the aftermath of surprisingly dovish rhetoric on U.S. monetary policy from the Federal Reserve. February gold was last up $56.50 at $2,054.00. March silver was last up $1.579 at $24.505. (Gold and silver futures prices had officially settled before the FOMC meeting…
TPPH achieves knowledge for domestic manufacturing of over 800,000 power plant parts
Iran’s Thermal Power Plant Holding (TPPH) has managed to achieve the knowledge for the domestic production of more than 800,000 power plant parts and equipment over the last five years, an official with the company said. “Over the past five years, more than 800,000 strategic parts have been manufactured in the thermal power industry…
