News List
IMIDRO,s cooperation with 50 knowledge-based companies for fixing technological needs
The head of IMIDRO Education, Research and Technology announced that IMIDRO is working with more than 50 domestic knowledge-based companies to meet the technological needs of subsidiaries companies. He pointed out that this cooperation at various levels includes: contracts, under consideration for signing the contracts and information exchange to provide technical proposals. The head…
Steel Plate Price Stable Across Europe in January H2 Amidst Uncertainties in Market Trend
In the week ending January 26, the price of Steel Plate across the European market showed a static trend across the European market as the demand from the downstream automotive and infrastructural development sector remained flat. The European mills have now pushed for the production of Green Steel, but the absence of effective regulation…
We will convert the Special Economic Zone of the Persian Gulf to the steel center of the country
The managing director of Maskan Bank, while referring to the special economic zone of steel as the steel center of the country, added: “If we focus on attracting resources, we can use the capacities of the Ministries of Economy and Finance and Road&Urban Development.” Hosseini pointed out the existence of large capacities such as…
IMF’s Important Remarks on Asian Macro Variables
The International Monetary Fund revised its growth forecast for Asian developing economies in 2024; IMF was optimistic about India but it warned of the dangers of the worsening crisis in China’s real estate sector. The International Monetary Fund revised its growth forecast for developing economies in Asia in 2024; it was optimistic about…
Beginning ofThe executive operations of four major steel projects in Hormozgan
In the second round of government delegation’s provincial trips,Hormozgan Steel co witnessed the start of four major projects. These projects are being operated in the continuation of the development process of Hormozgan Steel Company.It includes the project to increase steelmaking capacity by more than 2 times from 1,500,000 tons to 3,200,000 tons and hot…
Vale cranks up iron mining just as demand concerns resurface
World No. 2 iron ore supplier Vale SA delivered a bigger-than-expected increase in production last quarter in a result that may undermine prices of the key steelmaking ingredient. The Brazilian mining giant is accelerating production, posting its best December in five years, after investing in its prized Amazonian operations and improving performance at its…
Sponge iron export rises 93% in 9 months on year
The export of sponge iron from Iran rose by 93 percent during the first nine months of the current Iranian calendar year (March 21-December 21, 2023), as compared to the same period of time in the past year, according to the data released by the Iranian Steel Producers Association (ISPA). The ISPA reported that…
Global steel market forecast in 2024
Due to China’s economic situation and the construction recession in the country, steel consumption and demand have been severely affected and, compared to last year, experienced a significant decrease , which led to volatility in the price of iron in the majority of steel chain units. Consequently, it is predicted that the trend of…
Brazilian mining companies sentenced to pay $9.67 billion in compensation
A Brazilian federal judge ruled that miners Vale and BHP and their joint venture Samarco must pay 47.6 billion reais ($9.67 billion) in damages for a 2015 tailings dam burst. Vale and BHP said in separate statements they were not informed by the judiciary about the decision. Samarco declined to comment. The dam collapse…
Increasing global steel production every 2 years
Despite challenging market conditions, the world’s steelmaking capacity grew for the fifth year in a row, reaching a historic record of 2.5 billion tonnes, up 57.1 million tonnes, or 2.3 percent from 2022. Capacity growth of 57.1 million tonnes in 2023 has become the highest annual volume increase in global capacity in a…
