News List
Iran Becomes the Ninth-Largest Steel Producer in the World
According to the latest statistics of the World Steel Association, in the first five months of 2024, the rank of Iran’s middle steel production in the world increased from 10 to 9, and Iran replaced Brazil in the field of production. The World Steel Association published the latest statistics on global steel production.…
Iron ore heads for 4th weekly fall on talk of China steel curbs
Iron ore futures prices slipped on Friday and were on track for a fourth straight weekly loss, amid talk in the market of a cap on crude steel output in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade down 1.7% at 811.5 yuan…
116 idle, semi-active production units revived since late March
The Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Farshad Moghimi said that 116 idle and semi-active production units have been revived in the country since the beginning of the current Iranian calendar year (March 21). The official also announced that 10,000 economic units were revived during the late President Raisi’s administration…
Italy moves to boost procurement, reuse of critical raw materials
Italy is set to adopt a package of measures aimed at boosting procurement and reuse of critical raw materials, a draft decree seen by Reuters shows, including simpler permitting procedures for the release of mining concessions. Prime Minister Giorgia Meloni’s government has made it a priority to extract more such materials at home to…
Increasing U.S. scrap exports
In April this year, U.S. iron ore exports increased from 1.02 million tons in March to 1.08 million tons thanks to Turkey’s purchases. However, compared to the same period last year, it decreased by 110,000 tons. U.S. scrap exports to Turkey grew by 80 percent month-on-month in April, to 465,000 tons, while sales to…
Russia sends coal to India via Iran by train for first time
Russia has for the first time sent two trains laden with coal to India via the International North-South Transport Corridor (INSTC), which connects Russia to India via Iran, according to a statement by Russia’s national railway company. According to RT, a multimodal route that includes a railway, roadway network and seaports, the INSTC spans…
Fitch revises global GDP growth forecast in 2024 to 2.6%
The forecast for the growth of the Eurozone economy for the current year has been increased from 0.6 to 0.8% Fitch Ratings has upgraded its global economic growth forecasts for 2024 in its latest Global Economic Outlook. According to Fitch, the outlook has improved as confidence in Europe’s recovery prospects grows, China’s export potential…
Iran’s Economic Growth Rate Higher Than Those of Other Regional Countries: CBI Chief
Iran’s Economic Growth Rate Higher Than Those of Other Regional Countries: CBI ChiefIran’s economic growth rate is higher than many countries including neighboring and regional states, according to the latest statistics of the World Bank (WB), the governor of the Central Bank of Iran said. Speaking on the sidelines of a Cabinet meeting, Mohammad…
Iran’s House of Industrialists opens office in Balkan region
Iran’s House of Industrialists has opened an office in East Europe and Balkan region, according to the director of the House. Alireza Banihashemi said that these offices intend to create and give a boost to sustainable export markets, attract investors, transfer technology, and help the exports of technological services. He added that the office…
Situation of the market for steel raw materials
The latest price of imported iron ore of 62% purity in China fell by $1.5 daily to $106.15 per tonne dry CFR. Although the volume of purchases increased, the demand outlook is not favorable and the market is in a recession. The profit margins of steelmakers have improved compared to the first three months…
