News List
Iron ore extends gains on expectations of growing China demand
Iron ore futures rose for a second straight session on Thursday, underpinned by heightened expectations of growing demand in top consumer China on the back of improved downstream demand and steel margins. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 3.07% higher at 874 yuan ($120.75)…
Iran’s Steel Output Surpasses 32 Million Tons in One Year
Iran’s major steel companies produced 32 million tons of steel products in the previous Iranian calendar year (March, 21, 2023 to March 19, 2024), showing a 5.5 percent hike compared to a year earlier. This is the highest production volume in the steel history of the country, the Iranian Steel Producers Association (ISPA) reported.…
Tranter contributes to fossil fuels reduction in steel production
Tranter has secured an order for a cutting-edge direct reduced iron (DRI), green steel plant set to be constructed in Germany. The DRI plant reduces its carbon footprint significantly by using green hydrogen and carbon capture, helping to achieve NetZero goals by 2030. Tranter’s plate and frame heat exchangers will be used in the…
Iron Ore Price in China Rises in April 2024
The price of imported iron ore in the Chinese market is one of the important factors in determining the price of steel and affecting the steel industry. Because iron ore is used as the main material in steel production, its cost directly affects the cost of steel production. The growth in iron ore…
Industrial metal prices jump as investors bet on rising China demand
Industrial metals including copper and zinc have outperformed global stocks this year as signs of a revival in demand from Chinese manufacturers add to concerns over tighter global supply. An index tracking the performance of six industrial metals on the London Metal Exchange has climbed 8 per cent since the start of 2024, outpacing…
Production of iron ore concentrate rises 9% in 11 months on year
The production of iron ore concentrate in Iran increased by nine percent in the first 11 months of the previous Iranian calendar year (March 21, 2023-February 19, 2024), as compared to the same period in the year before, according to the data released by the Iranian Mines and Mining Industries Development and Renovation Organization…
The second phase of Foolad Baft Sponge Iron is ready for opening
The second phase of sponge iron unit of foolad baft with a capacity of 800 thousand tons is being placed in the list of ready to inaugurate of IMIDRO projects. According to IMIDRO, with the launch of the second phase of the direct reduction of the mentioned company, the production capacity of Baft…
Opening Session of productivity evaluation of National Iranian Steel Company
The opening session of productivity evaluation of National Iranian Steel Company based on IMIDRO productivity model was held at the company’s site this morning. According to the Public Relations of National Iranian Steel Company, in this meeting that the deputies and managers of the company were attended , the self-evaluation of the National Iranian…
New technology uses sand to store renewable energy
Researchers at the US National Renewable Energy Laboratory (NREL) have developed a technology that reveals how heaters powered by renewable energy sources like wind and solar can raise the temperature of sand particles, which can then be deposited into silos for storage and later use. The patented technology is based on thermal energy storage,…
Brazil’s iron ore exports fall
Brazil’s iron ore exports edged down by 2% y-o-y to 26.63 mnt in Mar’24 compared to 27.14 mnt in Mar’23, as per Customs data. However, volumes decreased by 6% m-o-m as against 28.3 mnt in Feb. The average price of iron ore shipped from Brazil stood at $92.2/t FOB in Mar, up y-o-y compared…
