News List
The world faces the weakest economic growth
The International Monetary Fund (IMF) stated: the world is facing the weakest economic growth in decades. International Monetary Fund (IMF) Managing Director Kristalina Georgieva at the G20 summit in Brazil announced: the world faces the weakest medium-term growth prospects in decades. She noted that the International Monetary Fund has predicted economic growth of…
China’s steel production declines in the first half of the year
In January-June this year, China reduced steel production by 1.1% y/y – to 530.57 million tons. In June, steel production in the country fell by 1.3% compared to May, to 91.61 million tons, which was caused by lower demand and reduced margins for steelmakers. At the same time, this figure increased by 0.2% compared…
Inauguration of new oxygen plant and ladle furnace LF3 projects of Esfahan Steel Company
Regarding the development projects of this huge industrial complex, Mehdi Koohi, Managing director of Esfahan Steel Company, stated: “The LF3 project is ready for operation and will be inaugurated soon in the presence of national officials.” Inauguration of new oxygen plant and ladle furnace LF3 projects of Isfahan Steel Mill Mehdi Koohi, Managing director…
Whitehaven sees higher near-term coal prices
Australian coal miner Whitehaven is forecasting higher metallurgical coal prices over the near and long term, citing production constraints of hard coking coal from Australian producers, combined with increased seaborne demand from India. The miner, which bolstered its output with the recent acquisition of the Daunia and Blackwater metallurgical coal mines from the BHP-Mitsubishi…
The contract for the construction of the steel making & continuous hot rolling of steel sheet is being executed
Iran International Engineering Company (IRITEC), as the EPC contractor for the construction of the Ghorveh steel factory and continuous hot rolling of steel sheet, executed the contract for the construction and equipping of this national pioneer project with a foreign manufacturing company. In this meeting, which was held in the presence of Dr. Rostamizadeh,…
ICCIMA calls on president-elect to improve business environment
Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has urged the president-elect Masoud Pezeshkian to prioritize improving the business environment and international relations during his tenure. Hassanzadeh made the remarks in a meeting between Pezeshkian and the representatives of the country’s private sector at the place of the ICCIMA…
Rio Tinto ships 4 billion tonnes of iron ore to China
The shipment was loaded at Dampier Port on 19th July, bound for China Baowu Steel Group, the world’s top steel producer. This milestone comes 51 years after the first shipment of almost 22,000 tonnes of Pilbara iron ore was sent from Dampier Port to China’s Shanghai No.1 Steel Mill, which has since become part…
Video report on the progress of the first three months of 1403 (iranian calendar)
Kurdistan Steel Industries Company ,by the end of June 2024 ,has been able to complete the Bijar sponge iron project by about 35%, due to perseverance and empathy of its managers and employees. We appreciate this progress, which has been achieved with the support of the shareholders and the efforts of the…
The financial statements of Azarbaijan Steel Company for the period ending 1402 (iranian calendar)were being approved
According to the Public Relations of Azerbaijan Steel Company, this meeting was held in the meeting hall of the National Iranian Steel Company with the presence of the majority of shareholders’ representatives, Azimi, Managing director of Azarbaijan Steel Company, members of the board of directors and a group of members of director,s council of…
Iron ore posts weekly loss
Iron ore futures prices fell on Friday and were on track for a weekly loss, as a lack of concrete stimulus from top consumer China and weak seasonal demand for steel weighed on the market. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended morning trade 0.37% lower at…
