News List
Middle East: Imported HRC offers drop w-o-w in recent deals
The Middle East hot-rolled coil (HRC) market witnessed price volatility this week as major suppliers, such as China, India, and Japan, revised their export offers in response to shifting global market conditions. These adjustments directly impacted import costs for Middle Eastern buyers. Imported HRC offers from China to the Middle East (ME) remained range-bound…
A record of 4 million tons extraction of iron ore in Sangan is registered
The contractor of Group A of Sangan Complex set a record of 4 million tons of iron ore extraction and tailings during October of this year. According to Sangan Complex, this achievement is the result of the extensive investment of the complex in the import of advanced machinery and equipment in recent…
The third scientific & operational competitions of the firefighters of steel projects of National Iranian Steel Company in the Ghaenat Steel Complex
According to the Public Relations of National Iranian Steel Company, the 3rd Scientific-Operational Olympiad of Firefighters of Steel Projects will be held tomorrow with the presence of firefighters of steel projects affiliated to IMIDRO&NISCO at the Ghaenat Steel Complex. In this round of competitions, which will be held for two days from tomorrow with…
India could face 2031 iron ore deficit
India’s iron ore demand is set to rise dramatically in the coming years, driven by increased steel production, market participants highlighted at Mjunction’s Indian Steel Market Conference in Bhubaneswar this week, attended by Kallanish. Current projections show a significant shift, with demand expected to increase from today’s 194 million tonnes to 350mt by the…
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…
