News List
3.2% growth/Iran’s economy in 2024
The World Bank (WB), in its latest report, predicted that Iran’s economy will grow 3.2 percent in 2024 and the inflation rate will decrease to 35.3 percent. According to the estimate of the international body, Iran’s economy experienced a five percent growth and a 40.7 percent inflation in 2023. The bank has forecast that…
Goldman Sachs leaves iron ore price forecast unchanged for the second half of the year
The bank’s analysts believe that the price of this raw material will be around $100/t by the end of the year US investment bank Goldman Sachs has not changed its iron ore price forecast for the second half of 2024, The Australian Business Review reports. The bank’s analysts continue to expect the price of…
The country’s definite iron ore reserves are about 2.8 billion tons
The secretary of the Iranian Iron Ore Association stated: “At present, there are about 2.8 billion tons of definite reserves of Iranian iron ore with a grade of 48 percent in the country.” Saeed Askarzadeh, the secretary of the Iranian Iron Ore Association, while pointing out that Iran’s iron ore reserves are determined…
Chinese deep-sea mining vehicle reaches 4,000m depth in trial run
China has taken a key step in the global race to explore the ocean floor for minerals after one of its deep-sea mining vehicles reportedly broke multiple national records during a recent trial operation. The “Kaituo 2” — also known as “Pioneer 2” in English — successfully completed an experiment in the Pacific Ocean…
Iran is the 10th largest exporter of iron ore in the world in the first half of 2024 / Iran’s exports of 9 million tons with a growth of 27%
The infographic has been published by the Big Mint website, in which it introduces the world’s 10 largest iron ore exporters in the first half of 2024. In the infographic, Iran was the world’s tenth-largest exporter of iron ore in the first half of 2024, during which 9 million tons of iron ore…
Iron ore will fall below $100
Australian analysts expect the price of iron ore to fall to $96 per tonne this year, and to reach $84 and $77 per tonne in 2025 and 2026, respectively.The Australian Department of Industry, Science and Resources predicts that iron ore prices will drop to $96/ton in 2024. At the same time, in 2025 they…
China’s steel market expected to weaken in July
China’s National Development and Reform Commission (NDRC) released its latest survey results on key steel wholesale markets nationwide including South China, and the Shanghai and Tianjin Municipalities which indicated subdued expectations for the steel market this month. The survey, which measures expectations against six key indices, found that the Sales Price Expectation Index and…
Iron ore climbs to 1-month high on robust demand
Iron ore futures extended gains into a fifth straight session on Thursday to erase most losses from the previous month, underpinned by robust near-term demand, improved steel fundamentals, a weaker U.S. dollar and persistent hopes of more stimulus from top consumer China. The most-traded September iron ore contract on Chinas Dalian Commodity Exchange (DCE)…
Growth of Iran’s non-oil exports/ up 27%
Special trade envoy to Iraq said that the country’s export of goods to Iraq in the first three months this year of 1403 in the Iranian calendar(started March 21, 2024) reached about $3 million, showing a 27% hike. Farzad Piltan, who is an adviser to the head of the Trade Promotion Organization of Iran…
Copper price to retest $10,000/t soon
Copper prices may retest the $10,000/tonne mark in the coming weeks due to investor optimism over policy support in China, according to analysts from Citigroup. The world’s biggest consumer is widely anticipated to introduce further stimulus to upgrade its renewable energy infrastructure at the Third Plenum meeting in mid-July. These additional measures, specifically targeting…
