News List
Investing €150 million in Bijar Sponge Iron Project
The vice president of parliament affairs atated: the project for the construction of Bijar sponge iron plant with 150 million euros of investment is in process. Seyed Mohammad Hosseini, stated: “The supreme Leader always emphasizes the use of capacities, the role and optimal management of Kurdestan Steel Industries Company is on the…
Iron ore slips amid high inventories at China ports
Iron ore futures prices slipped on Wednesday amid rising inventories at Chinese ports, despite hopes for greater intervention in the country’s flagging property market. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended day time trading 2.91% lower at 866 yuan($119.85) a metric ton. Prices erased gains from a…
Mohammad Aghajanloo : IMIDRO seeks sustainable steel economic development
Vice chairman of the board of IMIDRO asked for granting the necessary permits for the sustainable development of Kurdestan’s steel economy. Mohammad Aghajanloo stated: the goal of steel production in the country in the horizon of 1404 is to achieve a production capacity of 55 million tons, of which 50 million tons has…
projects in metallurgical industry to be implemented
Uzbekistan plans to implement promising projects worth $500 million on rare earth metals with the participation of foreign experts and investors. This issue was reviewed at a meeting held by the President of Uzbekistan, Shavkat Mirziyoyev, to discuss tasks in the spheres of geology and metallurgical industry. During the meeting, the president noted that…
Copper prices rise to $10,000
Demand for copper continues to rise due to the large role of this metal in a variety of industries, including renewable energies. As predicted by analysts, this rise in copper prices as one of the base metals ,reflects developments in the global market. Many analysts believe that the rise in copper prices is…
Global DRI production increased by 7.4% y/y in Q1
Global direct reduced iron (DRI) production in January-March 2024 increased by 7.4% compared to the same period in 2023 – to 28.09 million tonnes. This is evidenced by data from the World Steel Association WorldSteel, SteelOrbis reports. In March 2024, 13 countries producing direct reduced iron produced 9.56 million tons of the product. The…
Iran set to remove obstacles to knowledge-based companies’ exports
The head of Iran’s Center of International Science and Technology Cooperation (CISTC) has announced that the removal of obstacles to exports by knowledge-based companies is on the center’s agenda for the coming months. To achieve that end, the CISTC — which is an affiliate to the Iranian presidency’s deputy office for scientific affairs —…
Chinese Steel Wire Rod Prices Show Improvement, Bearishness Continue in US and Europe Market
Shanghai (China): On April 19th, the Producer Price Index for Metals and Metal Products Steel Wire dropped, while Steel Wire Drawing for Carbon Steel Wire saw a decrease. Excessive inventories in the USA market, triggered by reduced demand in construction, led to a decline in steel prices. German Steel Wire Rod prices fell, and…
Iran steel production grows by 16% in Q1 2024
The World Steel Association (WSA) announced in its latest report that steel production in Iran during the first quarter of 2024 has registered a 16.3 percent growth compared to the same period last year. The report added that the volume of steel production in the world in the 3-month period has risen by 0.5…
Iron ore will remain above $100 this year
Analysts believe that the average price of iron ore this year will be more than $US100 a tonne despite the housing market crisis hurting the outlook for China’s steel demand and the global market remains weak. The global market for this raw material will remain in deficit, and increased steel production outside China, especially…
