News List
Iran’s steel products exports hit $2.9 bn in H1
Iran’s exports of steel products reached $2.9 billion in the first half of the the current Iranian calendar year (started March 21, 2024), Islamic Republic of Iran Customs Administration (IRICA) reported. Steel products exports from Iran dropped by 14% in value terms in the six months to September 21, the IRICA said on Monday.…
Iron ore price climbs on China stimulus hopes, softer stockpiles
Iron ore price jumps on hopes of additional support from Chinese government Prices of iron ore futures gained ground on Thursday, as prospects of fresh Chinese monetary stimulus and lower inventories overshadowed concerns of the top consumer’s weakening domestic demand. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime…
China reduced steel production by 3.3% y/y in January-August
In August, the country reduced steel production by 10.4% year-on-year In January-August 2024, Chinese steelmakers reduced steel production by 3.3% compared to the same period in 2023, to 691 million tonnes. This is evidenced by data from the China Steel Association (CISA). In August, steel production in the country fell by 6.1% compared to…
global long steel market becoming more and more unstable
As the long steel product segment is suffering from a lack of balance between supply and demand, everyone is fighting for every order. The IREPAS chairman said that the markets are in a bearish mood and are holding back. Meanwhile, the level of competition is very strong, especially due to Chinese offers. He stressed…
The 13th Minex International Conference and Exhibition will be held
The International Conference and Exhibition of Investment Opportunities in Mining &Mineral Industries of Iran from 24 to 27 September would be held at Imam Khomeini Mosalla. In this exhibition, 300 domestic and foreign companies and their representatives would have a bold & active presence. Meeting place: 24 to 27 September 2024 (10:00…
Last month: China’s steel production cuts significantly
According to data from China’s National Bureau of Statistics, the country’s crude steel production reached 77.92 million tons in August 2024, representing a 10.4% decrease from 86.41 million tons in the same period in 2023. In the January-August 2024 period, China’s crude steel production decreased by 3.3% compared to the same period last…
Engineer Aghajanloo emphesized on speeding up the financing of Kurdistan Steel by shareholders
The care taker of IMIDRO emphasized on the process of financing Kurdistan Steel co, in order to complete the development plans by the shareholders of this complex. Due to present the report on the financial situation and capital increase of Kurdistan Steel, a meeting was held in the presence of the shareholders of…
Vale says routine check revealed cracks in dam, stability unchanged
Brazilian miner Vale said on Saturday that it is conducting checks on a dam after a routine inspection identified surface cracks but noted that the structure’s stability conditions remain unchanged. In a securities filing, the company said the issue concerns the Forquilha III dam at the Fabrica iron ore mine, located in the city…
ICCIMA calls for participation of private sector in drafting budget bill
Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has called on the government to ensure the participation of private sector representatives in the process of drafting the national budget bill for the next Iranian year (begins in late March 2025). As the ICCIMA portal reported, Members of the ICCIMA board of representatives gathered…
Iron ore price soars to over one-week high on upbeat seasonal demand outlook
Iron ore futures prices surged on Thursday to hit their highest in more than a week, as prospects of improved seasonal demand in China outweighed concerns over the top consumer’s economic recovery. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 3.97% higher at 707.0 yuan ($99.25) a…
