News List
Revising Gas Rates for Steel and Petrochemicals by the government
The Minister of Economy announcement: government’s revision to increase gas rates of steel and petrochemical companies. Ehsan Khandouzi, stated :”The government revised the previous decision on the petrochemical feed rate formula, so a new legislation is being drafted in which the feed rate is based on the formula of 2015 with the price of…
Monthly commodities trade in iran mercantile exchange almost 3.2b$
During the last month (ended on August 22) Iran Mercantile Exchange witnessed trade of 13,452,706 tons of commodities with a total trading value of almost $3.2 billion on its physical market, logging growths of 11.5 percent in value and 21 percent in volume of trades compared with the month before that. As reported by…
19$ growth in aluminium price
The price of aluminum on the London Metal Exchange rose to $2,184 on Friday, 0.9% up from the previous trading day. The price of aluminum on the London Metal Exchange, yesterday Friday, compared to the last transactions (Thursday) reached a $19 increase by $2,165 per ton to $2,184 per ton. Aluminium stocks in London…
Japan’s Scrap Market in Silence
The value of yen drop in camparison to the dollar and a decline in export offers increased Japan’s latest heavy class 2 export scrap price. Japan’s scrap traders were more active in the domestic market, and export supplies fell. The last price traded was at $348, up $3 daily. In Vietnam, Japan’s scrap was…
Copper price rises as China factory activity expands
The copper price rose on Friday after Beijing delivered a boost for China’s property sector, while a private survey pointed to a pick-up in the country’s manufacturing sector. China allowed its largest cities to cut down payments for homebuyers and encouraged lenders to lower rates on existing mortgages, the latest move to ease pressure…
Iron ore price rises
Iron ore prices rose as investors were buoyed by prospects of fresh measures from China to prop up its struggling property sector. According to Fastmarkets, benchmark 62% Fe fines imported into Northern China rose 1.73% on Wednesday, to $116.25 per tonne. The most-traded January iron ore on China’s Dalian Commodity Exchange ended daytime trading…
Increase of electricity production by nearly three times within a year
IMIDRO is planning to increase its production of electricity by nearly three times within a year as part of a government program to diversify electricity supply in the country. Chairman of the board of IMIDRO stated : electricity output would reach 2 gigawatts (GW) in mid-summer next year for the industries. Mohammad Reza Movassaghi…
Ground breaking ceremony of three development projects in Khoor and Biabanak Potash Complex with presence of Movasaghi Nia
Chairman of the Board of IMIDRO with the presence of local and provincial authorities Carried Out the ground breaking of Three Development potash Projects of Khoor and Biabanak Complex. According to Public Relations of IMIDRO , these plans include the construction of new exploitation pools with an investment of 4,800 billion rials, construction of…
Australian iron ore miner Fortescue’s profit falls in FY23 as Iron Bridge impairment weighs in
Australian mining group Fortescue reported record shipments of 192 million tonnes of iron ore in its fiscal 2023 (FY23), up 2% compared to FY22 and at the top end of market guidance. However, Fortescue said its C1 production costs of US$17.54/wet metric tonne (wmt) were 10% higher than the previous year, primarily reflecting an…
Gold price edges higher as US dollar, bond yields retreat
Gold prices edged higher on Monday, helped by a retreat in the US dollar and bond yields, while investors await a slew of economic data this week for more clues on interest rate outlook.Spot gold rose 0.5% to $1,924.20 per ounce, approaching its highest in three weeks. US gold futures were 0.6% higher at…
