News List
Exports from mining sector surpassed $6b in H1
Iran exported 30.477 million tons of minerals and mining products worth $6.33 billion in the first six months of the current Iranian calendar year (March 20 – September 21), IRNA reported. Based on the data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the Islamic Republic exported 30.492 million…
International industry exhibition running in Tehran
The 24th International Industry Exhibition of Iran (TIIE 2024) kicked off at Tehran International Permanent Fairgrounds on Sunday, IRNA reported. Over 380 domestic and foreign companies from various countries including Sweden, France, Germany, Turkey, China, and South Korea, are showcasing their latest products and achievements in this four-day exhibition. During the exhibition, several delegations…
Global scrap prices fell in October in most regions
The global scrap market showed mixed trends in October. Most regions saw a decline in prices due to weak demand and high inventories, while in Italy and China, prices rose slightly due to increased demand and limited supply. Prices for scrap metal in Turkey (HMS 1&2 80:20) decreased by 1.1% in the period from…
Iran ramps up steel output after lifting electricity curbs
Iran’s steel output has returned to levels seen before the country’s Energy Ministry imposed restrictions on the supply of electricity to industries this summer. Figures by the World Steel Association (worldsteel) cited in an IRNA report on Monday showed that Iran’s steel production had reached 1.5 million metric tons (mt) in September, up from…
Iron ore prices have fallen by 8-10% since the beginning of October
Quotations of raw materials adjusted to the level of August after a fall in September and a sharp rise in early October January iron ore futures, which are the most traded on the Dalian Commodity Exchange during the period of October 18-25, increased by 1% compared to the previous week – to 769.5 yuan/t…
Special inspection of the country’s coal mines commenced
The Deputy of Exploration and operation of Impasco stated: “Special inspection of the country’s coal mines has been started with the priority of five provinces of Kerman, South Khorasan, Semnan, Golestan and Mazandaran.” Shahram Adib, Deputy of Exploration and operation of IMPASCO, stated: “Following the bitter and unfortunate events that occurred in the…
Apparent steel consumption in China decreased by 6.2% y/y over 9 months
The industry association calls on the country’s steel plants to be disciplined in limiting production Apparent steel consumption in China decreased by 6.2% year-on-year – to 688 million tons in the first 9 months of this year. Reuters reports this with reference to data from the China Iron and Steel Association (CISA). According to…
IMF revises up its 2024 economic growth forecast for Iran
The International Monetary Fund (IMF) has raised its economic growth forecast for Iran in 2024 amid signs the country is becoming increasingly immune to the economic impacts of U.S. sanctions. In its latest World Economic Outlook published on Tuesday, the IMF forecasted that Iran’s gross domestic product (GDP) will grow by 3.7 percent this…
At the closing ceremony of the 403 Steel Symposium, Managing Director of National Iranian Steel Company was being appreciated
According to the Public Relations of the National Iranian Steel Company, at the closing ceremony of the 403 Steel Symposium, which was held on Thursday, October 25, 2024, at the Kish International Conference Hall, Dr. Mohammad Ghobadi Samani, Managing Director of the National Iranian Steel Company, was honored as one of the supporters of…
Saudi Arabia Megaproject Neom Says It Needs 20% of the World’s Steel
The major Saudi Arabian megacity construction Neom is currently using 20 percent of the world’s steel, according to a spokesperson for the project. Neom is a 10,200 sq mi area in northwest Saudi Arabia that has been turned into the world’s biggest construction site as an urban living megaproject launched in 2017 by Crown…
