News List
Iran’s trade with 15 neighboring states up 16% in 5 months
Iran’s non-oil trade with 15 neighboring states in the first five months of the current Iranian calendar year (started March 21, 2024) registered a 16% growth compared to the last year’s corresponding period. The president of the Islamic Republic of Iran Customs Administration (IRICA) put the value of Iran’s trade exchanges with the 15…
German distributors’ sales fall slightly in first half
Germany’s stockholding distributors sold a combined 5.016 million tonnes of steel products in the first half of the year, around 100,000t less than in H1 2023. The first two quarters did not differ much, with 2.469mt sold in Q1 and 2.448mt in Q2, Kallanish learns from distributors’ association Bundesverband Deutscher Stahlhandel (BDS). The average…
Investment in mining exploration projects rises 173%
The director of the Exploration Office at Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said investment in the country’s mining projects increased by 173 percent in the previous Iranian calendar year (ended on March 19). According to Ahmad Fattahi Mojalej, IMIDRO, and its subsidiaries invested 33.466 trillion rials (about $66.9 million)…
Industry Ministry unveils export support package for knowledge-based firms
The Iranian Industry, Mining and Trade Ministry has presented a support package for promoting the export of knowledge-based and innovative products. As reported, the chambers of guilds across the country and national unions have been notified about the details of the mentioned package that is aimed at “a jump in the export of knowledge-based…
BMI revises 2024 iron-ore price forecast lower to $110/t
Market analysis firm BMI, a Fitch Solutions company, has revised down its 2024 iron-ore price forecast from an average of $120/t to $110/t, as subdued demand in mainland China amid the ongoing property downturn continues to exert downward pressure on the iron-ore market. In its market commentary published on August 22, the company said…
Iran exports $2.6 bln of steel products in 5-month period
Over $2.566 worth billion of steel products were exported from the country in the first five months of the current Iranian calendar year (started March 21, 2024), Islamic Republic of Iran Customs Administration (IRICA) said. Iran exported 4.979 million tons of steel products overseas from March 21 to August 22, 2024, IRICA said. According…
Mohammad Aghajanloo is being appointed as the new caretaker of IMIDRO:
The ceremony of honoring and introducing the caretaker of IMIDRO was held in the presence of Vajiollah Jafari, advisor and representative of the Minister of Mine, Industry & Trade, in Imidro,s building. During this ceremony, which was held yesterday, August 28, in the presence of members of the executive board, deputies, managers, as well…
Industry Ministry to focus on increasing domestic production, says new minister
Iran’s new Industry, Mining, and Trade Minister Mohammad Atabak has said his programs will be mainly focused on realizing production leap under the framework of the Seventh National Development Plan. On his first day of work as the minister, Atabak held a meeting with his deputies on Thursday, in which he said: “With two…
Brazilian company Vale Invests in the Middle East / Construction of Three Steel Mega hubs in the Persian Gulf
The world’s largest iron ore company stated: we plan to build three mega hubs of steel in the Persian Gulf countries. The world’s largest iron ore producer, Brazilian company Vale announced its plan to produce three mega hubs in Ras Al Khair Industrial City in Saudi Arabia, the Khalifa Economic Zone in Abu…
Iron-ore rises for third day on China policy support optimism
The steelmaking staple climbed as much as 3.5% in Singapore following a report late on Tuesday that Beijing is considering allowing local governments to buy unsold homes by issuing so-called special bonds. The potential move comes after a series of rescue packages failed to prop up the real estate market, which is a major…
