News List
Gold prices to hit $2,200 and a ‘dramatic’ outperformance awaits silver in 2024
Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. “We are expecting gold to be pushed higher by a Fed easing. Also this comes with a weaker dollar” said the investment bank’s precious metals strategist Joni Teves, who expects…
Steel products export up 5.1% in 10 months on year
Iran’s export of steel products rose 5.1 percent during the first ten months of the current Iranian calendar year (March 21, 2023-January 20, 2024), as compared to the same period of time in the past year, Bahram Sobhani, the chairman of the Iranian Steel Producers Association (ISPA), announced. The Iranian Steel industry has been…
China and Indonesia lead the world in stainless steel production / Chinese manufacturing, exports and imports in 2023
China produced 36 million tons of stainless steel. In 2023, exports from China exceeded 3 million tons and imports to China were about 2 million tons in 2023. In 2023, China’s stainless steel production increased by 12.6 percent from 2022 to 36 million tonnes. The data was published by the China Stainless Steel Association…
The first small scale LNG industrial unit to be built
The contract to provide the technology of Iran’s first small-scale LNG unit is being inked between the Oil Industry Research Institute and a steel company. Azim Kalantari Asl , while pointing out that storage is one of the compensate solutions of gas imbalance in the country, stated : underground storage is being done…
Steel makers fear exports to be hit if the crisis lingers
The Red Sea crisis is likely to emerge as a grave concern for Indian steel manufacturers, with potentially impacting exports if the issue persists. The crisis also comes at a time when steel companies are facing lower demand and stiff competition from other countries. Between fiscals 2020 and 2022, Indian steel makers exported…
on the eve of Chinese holidays iron ore drops $5
The latest price of imported iron ore in China has fallen $US4.8 to $US128 a tonne CFR. Ports iron ore stocks have risen, indicating a drop in demand. The freezing weather and heavy rain in some parts of China have negatively affected steel transportation, so it causes reducing iron ore demand. In the coming…
IMIDRO,s cooperation with 50 knowledge-based companies for fixing technological needs
The head of IMIDRO Education, Research and Technology announced that IMIDRO is working with more than 50 domestic knowledge-based companies to meet the technological needs of subsidiaries companies. He pointed out that this cooperation at various levels includes: contracts, under consideration for signing the contracts and information exchange to provide technical proposals. The head…
Steel Plate Price Stable Across Europe in January H2 Amidst Uncertainties in Market Trend
In the week ending January 26, the price of Steel Plate across the European market showed a static trend across the European market as the demand from the downstream automotive and infrastructural development sector remained flat. The European mills have now pushed for the production of Green Steel, but the absence of effective regulation…
We will convert the Special Economic Zone of the Persian Gulf to the steel center of the country
The managing director of Maskan Bank, while referring to the special economic zone of steel as the steel center of the country, added: “If we focus on attracting resources, we can use the capacities of the Ministries of Economy and Finance and Road&Urban Development.” Hosseini pointed out the existence of large capacities such as…
IMF’s Important Remarks on Asian Macro Variables
The International Monetary Fund revised its growth forecast for Asian developing economies in 2024; IMF was optimistic about India but it warned of the dangers of the worsening crisis in China’s real estate sector. The International Monetary Fund revised its growth forecast for developing economies in Asia in 2024; it was optimistic about…
