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%.
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.…
Globally, the speed of #steel_production cooled down in July. 156.89 million MT of #steel was produced in July (+1.9%) which in comparison with the first 7 month of 2019=1083 million MT (+4.5%) has reduced significantly. #Iran by producing 2.2 million MT steel (+11.1%) in July seen an improvement in its steel production in comparison with…
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.
#Iron_ore_market is still trending down in #China and today the #iron_ore_index in #Dalian_Commodity_Exchange (#DCE) dropped 4.6%. Iranian export iron ore is also softening and decreased 0.5$ today and 5% for the lower grades during the last week. Index for export #concentrate 66%, FOB Bandar Abbas is now 62.4$ which is only 7.3% more expensive than…
