News List
The first shipment of steel structure for a reduction furnace reached Eqlid steel company
The first shipment of steel structure for a reduction furnace reached the workshop site of Eqlid steel company. According to IMIDRO the project is under construction with the aim of annual production of 1.1 million tons of sponge iron with an emphasis on environmental protection by engineers of IRITEC Company.
Iron ore, steel prices mostly fall as demand eases after China holiday
Prices of iron ore and steel products in China declined on Thursday, pressured by weaker steel demand as stockpiling needs eased after China’s Labour Day holiday. The most-traded September iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 closed 1.7% lower at 865.50 yuan ($119.79) per metric ton. The benchmark June iron ore SZZFM4…
Annual mineral exports hit $13 billion
Export value of mining and mining industries sector passed 13.7 billion dollars during the last Iranian calendar year (ended March20,2024). According to the report of public relations of IMIDRO, the value of Iran’s mining and mining industries export stood at 13 billion and 700 million dollars during the past Iranian calendar year (ended March20,2024),…
Iran to open trade center in Oslo
Iran’s Trade Promotion Organization (TPO) has given the green light for the establishment of a new trade center in Norway’s capital Oslo, the TPO portal reported. According to TPO, currently, over 40 Iranian trade centers are operating in different target countries across the globe. The TPO data says that Iran also plans to launch…
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…
