News List
Chinese steel is on the verge of a serious and new crisis
Bao Steel Group in China, as the world’s largest steelmaking unit, warns that the country’s steel industry is facing a more serious crisis than the recessions of 2008 to 2015. reported by Mehr News, Bao steel group in China in the position of the world’s largest steel manufacturing unit compared to the steel industry…
NICICO production capacity rises 25%
The managing director of the National Iranian Copper Industries Company (NICICO) said the company’s nominal production capacity has increased by 25 percent in the first four months of the current Iranian calendar year (March 20-July 21), IRIB reported. According to Hossein Modarres Khiabani, the mentioned increase was achieved after the company implemented several new…
Iron ore prices fell to a 14-month low
China’s continued weak real estate sector is putting downward pressure on steel demand expectations January iron ore futures, the most traded on the Dalian Commodity Exchange, fell by 8.2% to 698 yuan/t ($97.52/t) for the period August 1-15, 2024. On the Singapore Exchange, quotes for September benchmark futures as of August 15, 2024, decreased…
Iranians keen on investing in Afghanistan’s mines, oil, gas sector: Afghan ministry
The Ministry of Mines and Petroleum of the caretaker government of Afghanistan has announced that Iranian investors are interested in investing and operating in the mining sector of metals and oil and gas in the neighboring country. In a statement, officials of Afghanistan’s Ministry of Mines and Petroleum said that Deputy Minister Zia ur-Rahman…
Gold price tops $2,500 for first time on outlook for lower rates
Gold topped $2,500 an ounce for the first time, bolstered by hopes that the US Federal Reserve is edging closer to cutting interest rates. Spot bullion climbed as much as 1.8% on Friday, exceeding the previous record set last month, as a disappointing reading on the US housing market reinforced expectations of fast and…
The boom in iron ore concentrate production in large companies
During the spring of 2024, the country’s 14 largest iron ore companies produced about 13,601,381 tons of iron concentrate with a 17% increase in production. This figure was 11,670,017 tons in the same period last year. 17% increase in iron ore production Large mining companies recorded a 17% increase in production during the three…
Hot sheet prices in China/ Significant drop
China’s Bao Steel, the world’s largest steelmaker, has reduced the price of its September hot sheet by $14 per tonne compared to the previous month. However, for August, it had applied the same amount of price reduction. The stagnation of domestic demand and the continuous decline in global prices forced the factory to…
Billet price drop in China: $3 drop and impact on the market
The price of billet in China’s domestic market fell by $3 to $435 per tonne at the factory door with a 13% VAT. The drop in the price of steel products and the decline in the rebar futures market negatively affected the price of billet. Due to the falling of prices, trading volumes improved.…
Another launching in Ghaenat Steel Complex / Vertical preheater ladle of the Steelmaking Unit
By the help& power of God and with the increasing efforts of all who were involved in the steelmaking project of Ghaenat Steel Complex, including management, complex personnel and other personnel in Iritec, MCC and Barso companies, with the cooperation of the head and personnel of the gas department of Ghaenat city, the gas…
14th Middle East & North Africa Steel Conference
Metal Expert invites market participants to the 14th Middle East & North Africa Steel Conference to be held in Tangier, Morocco on October 30-31, 2024. Day 1, October 30, 19:00 – 21:00 – Preliminary Registration followed by Gala Dinner Day 2, October 31, 09:00 – 18:00 – Sessions` day AGENDA Spot steel trade in…
