News List
Forget copper and gold as steel-making raw material outperforms
Manganese, an essential steel-making ingredient, has outstripped copper, gold and many other commodities this year after a cyclone halted exports from the world’s second-largest mine in March. Prices of 44% grade manganese ore have almost doubled since the start of the year, beating gains of 15% in copper, 12% in gold and almost 30%…
China’s strong iron ore imports contrast with weak steel output
The strength in China’s iron ore imports this year stands in stark contrast to the weakness in steel production and demand, setting up a dilemma as to how the contradiction will be resolved. China, which buys about 75% of global seaborne iron ore, imported 102.3 million metric tons in May, according to customs data,…
commencement of the executive operation of Iran’s first conveyor belt factory
The executive operation of Iran’s first conveyor production factory in Alashtar, Lorestan, has begun. According to the Public Relations of IMIDRO, the Alashtar Conveyor Project was implemented in line with IMIDRO’s policies to develop domestic manufacturing and prevent Outflow of currency . Kanyar Saii Company (Kanisa), the employer of this project, operates with…
Norway discovers Europe’s largest deposit of rare earth metals
Mining firm Rare Earths Norway says it has discovered Europe’s largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe’s largest rare earths deposit is…
Latest statistics of sponge iron production in the Middle East + Table
The World Steel Association has published the latest statistics on sponge iron production in Iran and Middle Eastern countries. The following table has been compiled based on data from the World Steel Association, which shows the figures of the table of fluctuations in sponge iron production in the Middle East from 2019 to 2023.…
Iran reports 5.7% economic growth for year to March 2024
Iran’s economy grew by 5.7% in the fiscal year ending in late March 2024, marking the highest growth since 2017, according to the Statistical Center of Iran (SCI). In its latest report, the SCI said the growth of the gross domestic product (GDP) for the year ending in March 2024 at the constant prices…
Half of the country’s productive electricity is consumed for steel production
A member of the Iranian Steel Producers Association, while pointing out that the steel industry has an annual added value of $20 billion for the country, added: “The steel industry is one of the leading industries in the country, which allocates half of the electricity of the industrial sector.” Rasoul Khalife Soltani, a member…
Norway discovers Europe’s largest deposit of rare earth metals
Mining firm Rare Earths Norway says it has discovered Europe’s largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe’s largest rare earths deposit is…
Japan to craft 2040 strategy of decarbonisation and industrial policy
The Japanese government will map out by the end of March next year a new national strategy encompassing decarbonisation and industrial policy targeting 2040, industry ministry officials said on Monday. The move is aimed at setting out a long-term strategy to encourage investment to accelerate decarbonisation and to bolster the competitiveness of domestic industries.…
TURKISH STEEL INDUSTRY AIMS TO INCREASE TRADE VOLUME WITH NORTH AFRICA
The Turkish Steel Exporters’ Association (CIB) visited Tunisia with a trade delegation on May 22-24 with the aim to increase the trade volume between Turkey and North African countries and expand Turkish steel exporters’ presence in the region. Underlining that the association is accelerating international trade visits to reach the export figures recorded in…
