News List
Iron ore weakens amid waning China stimulus hopes, high portside stocks
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer China, high portside stocks, and risks of possible government intervention after a price rally last week. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.06% lower at 866.5…
Iran Expo to host 80 countries
The head of Iran Trade Promotion Organization stated: Iran Expo will host more than 2,000 people from 80 countries, saying that the event will open on Saturday and will last for five days, but on Saturday due to the presence of domestic and foreign authorities, we will not have a public visit and from…
Role of Artificial Intelligence in The Steel Industry
Artificial intelligence (AI) is an important breakthrough that enables machines to independently perform functions such as study, analysis and decision making that generally require cognitive abilities. The technology has advanced significantly in recent years due to its ability to access large amounts of data and its strong processing capabilities, and innovative programs. AI plays…
Unveiling of the first HPGR machine of the Central Iron Ore Company
According to the Central Iron Ore Company Information Center, the first machine (HPGR) of the Central Iron Ore Company of Iran, which has been produced with a knowledge-based approach &the capability of domestic companies, was loaded from Tehran to the city of Bafgh. Mohammad Jahanmanesh, deputy of development and projects affairs of Central Iron…
African Summit in Tehran, April 26
Iran will host economy ministers from more than 40 African countries at the second Iran-Africa International Summit set to be held later this month, an official with the Trade Promotion Organization (TPO) said. The deputy head of the international businesses promotion office of the TPO pointed to the significance of trade with African states…
China’s Q1 rebar output slips 9.5% YoY
In the first quarter of 2024, China produced 50.02 million tonnes of rebar in total, lower by 9.5% on year, according to the latest data from the country’s National Bureau of Statistics (NBS) on April 17. For March alone, the country’s rebar output declined by a larger 22.5% on year to 17.79 million tonnes,…
Coal Continues to grow despite pledges for Clean Energy
Coal was more popular than ever in 2023, despite big promises from many world powers to curb production and use in favour of cleaner alternatives. Mainly owing to China and India, the generation of electricity from coal production increased last year, as several new plants came online across Asia. While countries such as the…
Foreign investment in Iran reaches $11.6b in 2 years
The Iranian government has managed to attract $11.6 billion of foreign investment in various sectors since the administration took office in 2021, Shana reported. As reported, in the mentioned figure the share of the oil and gas projects has been $4.8 billion which means the oil industry accounted for 41 percent of the country’s…
Drop in Scrap Prices in Turkey
The latest heavy import scrap price in Turkey has dropped 2 dollars daily and 382 USD per ton CFR has been recorded. The market outlook is not so favorable and the latest deals were finalized with a drop in price, so the average of the market also faced a price decline. Since now, suppliers…
Monthly Record of Sponge Iron Production Broke by Shadegan Steel Industry Company
Due to the efforts of the employees of Shadegan Steel Industry Company, the monthly record of sponge iron production was broken in April 1403 at a rate of 79,301 tons. It is worth mentioning that the previous monthly record for production of sponge iron in Shadegan Steel Industry Company was 79,053 tons.