News List
Iron ore ends 2023 above $US140
The latest price of imported iron ore 62% purity rose in China due to rising confidence and market hope. The price was up $1.6 per day at $140.5 per tonne of CFR in China. According to the Central Bank of China’s statements regarding the implementation of monetary policies and increased efforts to improve domestic…
Deepening domestic manufacturing table in the 5th National Steel Festival
Dr. Bahram Sobhani, president of the Iranian Steel Producers Association while pointing to the role of localization movement in reducing the need for the outlay of foreign currency in steel production, stated: Since 1397, when the movement for localization and maximum utilization of domestic manufacturing power in the steel chain was pursued with strength…
Mexico targets Chinese steel imports with increased tariff of nearly 80 per cent
The declaration from Mexico’s economy ministry follows criticism from local producers that Chinese steelmakers have strangled their production Brazilian steelmakers have also requested their government impose a 25 per cent tariff on Chinese steel imports, though little action has been taken Mexico announced a nearly 80 per cent tariff on some steel imports on…
Automakers provide assistance to Japan’s steel demand
Japan’s crude steel production is expected to increase 1.7% in the first three months of 2024 due to favorable demand from automakers, which will increase the annual production of the world’s third-largest steelmaker. In fact, improving demand from Japanese automakers will compensate the demand shortage of housing and other manufacturing sectors. But there are…
Global seaborne ferrous scrap trade volumes drop 5% y-o-y in CY’23
Total global seaborne ferrous scrap trade volumes are expected to reach nearly 56 million tonnes (mnt) – 55.72 mnt – in calendar year 2023 (CY’23), as per provisional data available with SteelMint. Seaborne trade is expected to drop 5% y-o-y from 58.49 mnt in CY’22. The top 8 seaborne scrap consumers this year are…
Iron ore price rises on upbeat Chinese industrial data, demand hopes
Dalian iron ore futures rose for the second consecutive session on Wednesday, as market participants reacted to robust industrial data amid expectation of economic stimulus and robust Chinese demand. The most-traded May iron ore on China’s Dalian Commodity Exchange rose 0.5% to 985.5 yuan ($137.93) per metric ton at closing, headed for the second…
The groundbreaking ceremony of 1.2million ton of iron ore concentrate plant
The construction of an iron ore concentrate plant, with an annual capacity of 1.2 million tons, was held in Bafgh city. The ceremony construction of a 1.2 million ton iron ore concentrate plant was held in the presence of Mohammad Reza Movassaghinia, deputy minister of industry, mine and trade and chairman of the board…
Iran iron Ore Concentrate Output Climbs 3% in 8 Months on Year
Iron ore concentrate production of major Iranian mining companies during the first eight months of the current Iranian calendar year (from March 21 to November 21, 2023) increased 3 percent YOY. According to the report of Public Relations of IMIDRO, Iron ore concentrate production of 10 major Iranian mining companies stood at 33,399,486 tons…
Iran’s Minister of Industry, Mine &Trade: Regional cooperation a catalyst for new world order
Iran’s Minister of Industry, Mine, and Trade Abbas Aliabadi has underscored the significance of mutual cooperation among regional countries, considering it a catalyst for shaping a new global order. Aliabadi made the remarks in St. Petersburg on Monday after Iran signed a free trade agreement with members of the Eurasian Economic Union (EAEU) —…
Coal consumption hits record high in 2023
The International Energy Agency (IEA) stated as the demand for coal remained high in emerging economies and developing countries global coal consumption has reached its highest level in 2023 The International Energy Agency (IEA) announced: according to the IEA evaluation, demand for coal increased by about 1.4 percent in 2023, surpassing 8.5 billion tonnes…
