News List
Iron ore struggles for direction as prospect of China steel output cut weighs
Iron ore futures pared early gains on Wednesday and struggled for a clear direction, as market discussions over potential steel production cuts in top consumer China weighed on prices of the key steelmaking ingredient. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.36% lower at 824 yuan…
The financial statements of the National Iranian Steel Company for the fiscal year ending March 20, 2024 were approved
The annual ordinary general meeting of the shareholders of the National Iranian Steel Company for the fiscal year ending March 20, 2024, approved the company’s financial statements. According to the Public Relations of NISCO, the meeting was held in the presence of Movassaghi Nia, Deputy Minister of Industry,Mine &Trade and Chairman of the Board…
Iron ore rebounds after China’s latest move to spur property sector
Iron ore futures prices ticked up on Thursday, helped by Beijing’s latest move to revive its struggling property sector, although lacklustre near-term demand and persistently high portside stocks in top consumer China capped gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.93% higher at 817 yuan…
Managing Director of National Iranian Steel Company visited two steel complexes in Miyaneh
Managing Director of National Iranian Steel Company and the accompanying delegation visited Azerbaijan Steel Company and Miyaneh Steel Complex According to the Public Relations of National Iranian Steel Company, Dr. Ghobadi Samani visited the DRI unit of Miyaneh and the under construction steel making project of this complex and was informed about the measures…
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…
