News List
Rio Tinto expects ore production to grow by 15 million tons in 2023-2025
Rio Tinto expects iron ore production to grow by 15 million tons in 2023-2025, CEO Jacob Stauscholm said during an investment seminar in London. In particular, in 2024 and 2025, the company forecasts an annual increase of 5 million tons, Australia Mining reports. A key area for Rio Tinto is the Simandou project in…
Iran exports crude steel, steel products worth $3.6b in 7 months
Iran exported crude steel and steel products worth $3.643 billion in the first seven months of the current Iranian calendar year (March 20-October 21), the Iranian Steel Producers Association (ISPA) reported. As reported, the figure shows 14 percent drop from $4.255 billion in the same period of time in the past year. The weight…
The “6th National Iranian Steel Festival and Exhibition” will be held from January 8 to 10 in Milad Tower
According to Imidro’s public relations, this festival and exhibition will be held by the Iranian Steel Producers Association and Imidro with the participation of large iron and steel chain companies. Imidro invites all domestic manufacturers, localized builders, and knowledge-based companies active in the country’s iron and steel chain to participate in this festival to…
Germany Recession Risk Rises After Industrial Production Slump
German industrial production fell in October, kicking off the final quarter with an unexpected decline and dashing hopes that the key sector for Europe’s largest economy may slowly be overcoming its malaise. Output decreased 1% from the previous month, worse than any forecast in a Bloomberg survey, which anticipated a 1% increase. The decline…
Record breaking in Azerbaijan steel company
According to the Public Relations of the National Iranian Steel Company, quoting the Public Relations of the Azerbaijan Steel Company, Managing director of Azerbaijan Steel Company announced the company’s record breaking for the production of rebar” size 10 “in a single shift. Mikaeel Azimi declared: “The colleagues of this company registered a new…
Coking coal prices remained stable in November
Economic stimulus in China did not significantly affect demand November 2024 was a month of stability for the global coking coal market with little price fluctuation. In Australia (FOB Australia), premium coking coal held the level of $203/t. Meanwhile, on the Chinese CFR China market, prices fell by 0.5% to $214/t by the end…
Iran’s economy grows by 4% in H1 fiscal year
Iran’s Gross Domestic Product (GDP) grew by 4% in the first six months of Iran’s current calendar year (March 20 – September 21), with non-oil GDP rising by 2.6% compared to the same period last year, according to a report by the Statistical Center of Iran (SCI). The SCI report, which was released on…
Steel consumption in Turkey decreased by 1.8% y/y in January-October
Exports of steel products grew by 30.7% y/y over 10 months, while imports fell by 7.2% y/н Consumption of rolled steel products in Turkey in January-October 2024 decreased by 1.8% compared to the same period in 2023 – to 31.4 million tons. This is stated in a press release from the Turkish Steel Association…
Capacity of Iran’s renewable power plants exceeds 1,300 MW
The capacity of Iran’s renewable power plants has reached 1,317 megawatts (MW), based on the latest data released by Iran’s Renewable Energy and Energy Efficiency Organization (SATBA). As IRNA reported, of the mentioned figure, the share of wind power plants is 29 percent with 376.3 MW and the share of solar power plants with…
Iron ore slides as investors fret China stimulus will disappoint again
Iron ore futures prices slid on Thursday as investor sentiment dampened after statemedia in top consumer China emphasized qualitative improvements ahead of a long-anticipated meeting that is expected to set the tone for economic growth next year. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.17% lower…
