Index for iron ore at Chinese ports fell to 87.9 on Wednesday, down 5.5% Reasons: Low restriction on Chins steelmaking mills this winter, increase the steel supply and cause the steel price to fall. So the iron ore rate as the raw material for steel production will be under pressure. RioTinto iron ore supply increased…
Aluminum stocks of SHFE and LME jumped respectively +0.3% and +1%. Copper stocks of LME and US decreased respectively -1.1% and -0.3% while copper stocks of SHFE increased +14.5%. Zinc stocks of LME descended -2.9% but zinc stocks of SHFE ticked up +4.4%.
Over $3.5 billion of mineral projects are going to be completed this year in Iran with the help of the private sector. Around 1300 million Tomans were received from the private companies investing in these projects till now. It is planned to activate small sized mines with the help of private companies.
Coal concentrate production of Iran has risen 78.7% in last five years, the highest growth between Iran minerals! On the other hand, aluminum ingot with a 1.8% growth had the lowest improvement. 921,500 MT of coal concentrates were produced 5 years ago in Iran which had increased to 1,647,000 MT last year. Moreover 15,480,000 MT…
Iranian concentrate price increased 1$ on daily basis and 7.3% on weekly basis. Low grade products grow 13.7% comparing current week to previous week and Iranian hematite fines price declines 1.7% at the same period. It is worth noting that Iran government is going to add 25% export duties on iron ore to cool down…
Steel market resists and the prices are firm. Though US dollar rate in free market has reduced, the steel demand is yet strong and avoids prices to fall. But we should wait and see what the steel outlook is in future. Iran steel is demanded strongly not only in domestic market but also surrounding countries.…
Index for steel in global markets follows the fall of iron ore market.
According to J.P. Morgan Private Bank, #US_dollar could be vulnerable to a loss of value relative to a more diversified basket of #currencies like gold. Investigating the clients’ portfolios shows that most of them poses far more US dollars exposure than we feel is prudent. They recommend placing a higher weighting on other G10 currencies.…
According to Financial Tribune, #direct_reduced_iron (#DRI) production in Iran had developed 10% in the first four months of the current Iranian year (March 21-July 22) in comparison with the same period last year. Totally 9.46 million MT of direct-reduced #iron were produced in Iran during the first four months of the current Iranian year. According…
Index for #iron_ore 54% decreased 32.9% in comparison with last week and is priced only 14.6$ per MT, not economically logical for #export! Also Index for #concentrate 66% dropped 11.2% in comparison with last week and 5.5 $ in comparison with Wednesday 21 august. It is priced 56.69$ on Thursday.
