News List
Iran’s steel industry production increased by 700 thousand tons
The World Steel Association announced in the report of the global production of crude steel for October 2023 (9 October to 9 November 1402): The global production of crude steel in this month reached 150 million tons, which shows an increase of 0.6% compared to October 2022. This document, which was compiled based on…
Iran remains world’s 10th largest steel producer: WSA
The World Steel Association (WSA) reports that Iran has retained its global ranking and remained among the top 10 steel producers in the world. According to the report, crude steel production in the world during the 10 months of 2023 has reached over 1.5 billion metric tons (mt). Accordingly, major steel production companies in…
Iron Ore Giant Fortescue Begins to Chart a New Course in Clean Energy
Australian iron-ore titan Fortescue Metals Group approved a $550 million green hydrogen project in Arizona, the centerpiece of an initial slate of projects aimed at recasting the company founded by billionaire Andrew Forrest as a clean energy giant. The Phoenix Hydrogen Hub, in Buckeye, Ariz., was backed by directors in a $750 million, three-year…
Iran produces over 25 mn tons of crude steel in 10 months
Iran produced 25.1 million tons of crude steel in the first 10 months of 2023 (January-October), according to the World Steel Association. In its latest report, the World Steel Association said the major steel production companies in the world produced more than 1.5 billion tons of crude steel from January to October 2023, showing a…
Commodities worth nearly $650m traded at IME in a week
Iran Mercantile Exchange (IME) witnessed trade of 2,912,114 tons of commodities with a total trading value of more than $649 million on its physical market, posting growths of 1.4 percent in volume and 8.4 percent in value of trades compared to the figures of the previous week. As reported by the IME’s Public Relations…
Japan’s scrap in relative stability
The average price of Japan’s Class 2 export heavy scrap rose less than a dollar last week, with $326 per ton FOB . The latest deals in Vietnam were at $375 to $380 and $365 to $366 per ton of Taiwan’s CFR were finalized. As the Koreans are not currently in the export market…
UK union leaders urge Tata Steel to reconsider blast furnace closure
UK union leaders have told Tata Steel that the closure of its Port Talbot blast furnaces will ‘risk the future of the company’s UK steelmaking’. The steelmaker recently pulled its announcement of an expected loss of 3,000 jobs, which has allowed the unions to hold further discussions. Two of the main unions representing workers,…
MENA Region has the potential to take over Green Steel Leadership
Experts believe the Middle East and North Africa region (MENA region) can become a global leader in “green steel production and its emerging trade”. The large sources of solar energy that can supply green hydrogen to produce sponge iron-based steel means the region could become a major supplier to growing markets such as India…
Celebrating Sefiddasht Steel Company as the exemplary industrialist of Chaharmahal va Bakhtiari province
In a ceremony held with the presence of the Minister of Industry, Mine and Trade at the Chamber of Commerce, Industries, Mines and Agriculture of Chaharmahal and Bakhtiari province, Sefid Dasht Steel Company was honored as the premier industrialist of the province. This ceremony is annually held by the organization of Industry, Mine and…
Iran expands power exchanges with neighboring countries
Mostafa Rajabi Mashhadi, the spokesman for Iran’s state-run electricity industry, has announced that Iran is engaged in power exchanges with all its neighboring countries. The main destinations for Iranian electricity exchange are Iraq, Afghanistan, and Pakistan, as reported by Iran’s Ministry of Energy on Sunday. Furthermore, the power grids of Iran and Turkey have…
