News List
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…
Global steel output fell by 4.7% y/y in September
Steel production in the 71st country for the month amounted to 143.6 million tons Global steel production in September 2024 fell by 4.7% compared to the same month in 2023 to 143.6 million tons. The figure fell by 0.8% compared to August. This is evidenced by the global ranking of 71 steel-producing countries by…
Engineer Aghajanlou became chairman of the executive board of Imidro
Engineer Atabak, the Minister of Industry، Mine & Trade, by issuing a letter of appointment appointed Mohammad Aghajanlou as the deputy minister and chairman of the executive board of Imidro.
World’s top two iron ore miners raise output even as China slows
The world’s two biggest suppliers of iron ore, Rio Tinto Group and Vale SA, raised output of the steelmaking material last quarter, even as demand from China faces headwinds due to the nation’s unresolved property crisis. Rio’s third-quarter output edged up about 1% from a year earlier, while Brazil’s Vale beat estimates to churn…
How AI Will Impact Energy Industry Margins Over the Next 5 Years
Investors have poured billions into AI-related companies, but adoption is moving slowly across American firms. According to the Census Bureau, just 5% of American businesses have used AI to produce goods and services over the last two weeks, highlighting that market enthusiasm is not yet matching the real economy. Despite this slow progress, AI…
Steel and scrap prices in Asia may rise in Q4 – forecast
In the fourth quarter of this year, prices for ferrous metals and scrap may rise in Asia, according to Argus Media. This could be driven by economic incentives from Beijing, rising demand and disruptions in scrap supplies. The positive trend may be limited by softer demand in some countries in the region. At the…
Iron ore concentrate export stands at $241m in 6 months
Iran exported 3.246 million tons of iron ore concentrate worth $241 million during the first six months of the current Iranian calendar year (March 20-September 21), according to the data released by the Iranian Steel Producers Association (ISPA). As ISPA reported, the country had exported 3.346 million tons of the product worth $298 million…
Nippon Steel Receives 2024 Award for Excellence in Corporate Disclosure from the Securities Analysts Association of Japan in Two Categories:Industry Specific and Disclosure to Individual Investors
Nippon Steel Corporation has received the “2024 Award for Excellence in Corporate Disclosure” in the Steel/Non Ferrous Metal Industry category, from the Securities Analysts Association of Japan (“SAAJ”). This year, in addition to being rated first place in the Steel/Non Ferrous Metal Industry category, we received the second-highest score in “Disclosure to Individual Investors”…
Industry Ministry prioritizes comprehensive development plan for mining sector
Iran’s Deputy Industry, Mining and Trade Minister Vajihollah Jafari has said implementing a comprehensive plan for developing the country’s mines is a priority of the ministry to achieve the goals set for the mining sector in the seventh National Development Plan (2022-2027). “The strategic plan has been formulated in 17 paragraphs and its priorities…
Brazil’s Vale posts highest quarterly iron ore output since 2018
Brazilian miner Vale (VALE3.SA), opens new tab reported a 5.5% increase in its third-quarter iron ore production compared to a year earlier, reaching the highest level in almost six years. The company, one of the world’s top iron ore suppliers, reported output of 91 million metric tons in the three months ended Sept. 30,…
