News List
Danieli EAF technology selected for automotive-exposed grades
Shougang is the first BF-BOF steel enterprise in China that has achieved ultra-low emissions. Pursuing this vision Shougang selected Danieli Zero Bucket technology to be first in producing automotive-exposed grades by EAF. Featuring horizontal preheating and continuous charging technology, the new Danieli Zero Bucket will have a capacity of 160 ton of tapped steel.…
Technical-engineering services export stands at $700m in 7 months
The value of Iran’s technical-engineering services stood at $700 million during the first seven months of the current Iranian calendar year (March 20-October 21), the Islamic Republic of Iran Customs Administration (IRICA) has announced. According to the chairman of the board of directors of Iran Power Industry Syndicate, Iran has good capacities for exporting…
Baosteel produced 13.3 million tons of steel in Q3
For 9 months, the total volume of steel production by the company amounted to 39.61 million tons China’s largest steelmaker Baoshan Iron & Steel (Baosteel), a subsidiary of the state-owned China Baowu Steel Group, produced 12.56 million tons of pig iron and 13.3 million tons of steel in the third quarter of 2024, Reuters…
Ghadir Neyriz Steel Solar Power Plant /ready
The 10-megawatt solar power plant of Ghadir Neyriz Steel Complex in order to solve some of the energy imbalances, is ready to be used. In order to realize the sustainable development and the supply of energy to be used in the production lines, the mentioned complex purchased the shares of the 10-megawatt Kooshk…
Iran’s CBI to launch new currency exchange market
The Central Bank of Iran (CBI) is planning to launch a new currency exchange market in a bid to control the prices and to make it easier for importers to access hard currency generated from exports. CBI Governor Mohammad Reza Farzin said on Wednesday that the Currency Market of Mutually-Agreed Prices will be a…
Australia risks losing its iron ore dominance, Fortescue CEO says
Australia risks losing its dominant position in the global iron ore market if it does not move swiftly to produce green iron, and would do well to learn lessons from the near wipe-out of its nickel industry, Fortescue CEO Dino Otranto said on Tuesday. Australia is the world’s biggest supplier of seaborne iron ore,…
Operation of the first phase of Iran’s largest solar power plant by Mobarakeh Steel company
Managing director of Mobarakeh Steel Company stated: The 600 MW Mobarakeh Steel Power Plant in east part of Isfahan, as the largest solar power plant in Iran and the 25th largest solar power plant in the world, is ready to be used. Mohammad Yaser Tayebnia added: “The first phase of this power plant…
World Bank estimates global commodity prices falling to 5-year lows in 2025
The World Bank estimates global commodity prices will fall to their lowest levels in five years in 2025 and keep falling the following year due to an oil surplus, according to the recently released Commodity Markets Outlook report for October 2024. The oil surplus would be large enough to limit the price effects of…
Coking coal prices rose in October amid China’s incentives
The coking coal market has shown some optimism since the end of September amid the stimulus announced by Beijing, but is in a state of uncertainty at the end of the current month. On August 23, Australian high-quality coking coal prices fell below $200/t FOB for the first time in a year and remained…
IMF forecasts economic growth, inflation reduction for Iran
The International Monetary Fund (IMF) has reassessed Iran’s economic outlook, improving its forecasts for both inflation and economic growth compared to previous reports. In its latest report, the IMF said that inflation in Iran will decrease to 31.7% this year, dropping 5.8 percentage points from earlier estimates made in April. It also projected Iran’s…
