News List
Short term outlook of china’s steel market
According to the latest monthly report by the China Iron and Steel Association, Chinese steel prices are expected to remain in slight swings after recent price hikes in the near future, as demand from consumer steel industries may be underperforming with slow growth. The association noted that the impact of global geopolitical conflicts may…
Iranian pellet Production Jumps 10 % in March_Oct 2023 Period
Pellet production of major Iranian mining companies witnessed 10 percent growth during the first seven months of the current Iranian calendar year (from March 21 to October 22, 2023). Pellet Production Jumps 10 % in March_Oct 2023 Period According to the report of Public Relations of IMIDRO, nine major Iranian mining companies produced 23,626,227…
Gold price hits all time high
Gold jumped to a new all-time high on Friday after three straight weeks of gains on bets that US interest rates could soon be cut — and safe haven buying amid turmoil in the Middle East and elsewhere. Gold futures trading in New York shot up 1.6% on Friday closing at $2,089.70 per ounce,…
Nippon Steel to hunt for more coking coal, iron ore assets
Nippon Steel, the world’s No.4 steelmaker, will keep on hunting for stakes in coking coal and iron ore mines to ensure a stable supply of essential raw materials and mitigate the potential impact of price volatility, its executive said. A Glencore-led consortium, including Nippon Steel, sealed one of the mining sector’s biggest deals in…
Volatility of iron ore’s price continues
The latest purity iron ore price in China’s import market rose by $62.1 a day to $2.133 a tonne of CFR in China,it was due to the growing market hopes for improved demand in the coming Year. The desire to buy is getting better and traders are looking to buy iron ore for January…
Dalian iron ore extends decline on ongoing government monitoring effects
Dalian iron ore futures on Wednesday extended declines for a fifth session, with market dynamics responding to continuous government intervention and discouraging manufacturing data. The most-traded January iron ore on China’s Dalian Commodity Exchange was down 0.5% at 955.5 yuan ($134.17) per metric ton at closing. Meanwhile,the Singapore Exchange’s benchmark January iron ore was…
Saudi Arabia Ambassador visited IMIDRO and National Iranian Steel Company pavilion
The pavilion of IMIDRO and National Iranian Steel Company and its subsidiaries hosted the ambassador of Saudi Arabia at the Iran Metafo exhibition. According to the Public Relations of National Iranian Steel Company, Saudi Ambassador Abdullah bin Saud al-Anzi was briefed on the activities of the company and its subsidiaries during the visit. According…
Iran’s steel industry production increased by 700 thousand tons
The World Steel Association announced in the report of the global production of crude steel for October 2023 (9 October to 9 November 1402): The global production of crude steel in this month reached 150 million tons, which shows an increase of 0.6% compared to October 2022. This document, which was compiled based on…
Iran remains world’s 10th largest steel producer: WSA
The World Steel Association (WSA) reports that Iran has retained its global ranking and remained among the top 10 steel producers in the world. According to the report, crude steel production in the world during the 10 months of 2023 has reached over 1.5 billion metric tons (mt). Accordingly, major steel production companies in…
Iron Ore Giant Fortescue Begins to Chart a New Course in Clean Energy
Australian iron-ore titan Fortescue Metals Group approved a $550 million green hydrogen project in Arizona, the centerpiece of an initial slate of projects aimed at recasting the company founded by billionaire Andrew Forrest as a clean energy giant. The Phoenix Hydrogen Hub, in Buckeye, Ariz., was backed by directors in a $750 million, three-year…
