Iron and Steel

Mining News Pro - CEO of Hormozgan Steel Company announced that this company produced 1460106 tons of slab in the past year (solar year) and due to the hard work of company’s workforce.

Mining News Pro - Teck Resources suspended its 2020 financial forecasts on Wednesday and said it expected steelmaking coal production to drop to about 80-85% of normal levels in an initial two-week slowdown from March 25 due to the coronavirus outbreak.

Mining News Pro - Mobarakeh Steel Company reached a new record for daily DRI production.

Mining News Pro - With total capital of $3.8b in last Persian year, Esfahan Steel Company gained $6.7b from products sales.

Mining News Pro - China`s first iron-ore futures-based exchange traded fund (ETF) has raised $11-million from institutional investors and clients at private banks, according to the manager of the fund, which will list in Hong Kong on Friday.

Mining News Pro - According to SteelMint, Chinese HRC export offers decline as importers turn bearish.

Mining News Pro - Indonesia`s billet imports were recorded at 376,169 MT during Jan’20 to book an M-o-M decline of approximately 20%.

Mining News Pro - As per the latest data released by the customs and compiled by SteelMint, India’s finish-flat imports stood at 0.30 MnT in Feb’20 down by 17% on a monthly premise as against 0.37 MnT in Jan’20.

Mining News Pro - Imported scrap Offers to Pakistan have plummeted over the last week, following a downturn at global levels as well as low bids and general disinterest from the buyers` side. This week, the buying activates remained the slowest among the last 4-5 weeks, although few odd bookings were concluded. Sudden currency depreciation also remained a concern.

Mining News Pro - Raipur (central India) based pellet manufacturers have decreased offers today by INR 200/MT.

Mining News Pro - Global ferrous scrap market witnessed downward trend in prices for all major markets yet again.

Mining News Pro - This week, Iran billet export prices fell marginally in recent deals. SteelMint’s assessment for billet export offers from Iran is at USD 380-385/MT, FoB Iran, down USD 5-10/MT, against last week. While domestic billet offers in the country are at IRR 52,600/kg, including 9% VAT.

Mining News Pro - Turkey scrap imports dropped 9% Y-o-Y to 18.8 MnT in CY19 Import volumes from US and Netherlands observed increase, however bookings from UK fell in CY19. Country’s crude steel output fell 9.6% Y-o-Y to 33.7 MnT in CY19.

Mining News Pro - Iran’s steel output stood was recorded at 43.28 MnT during the first 11 months of the current Iranian year (21 Mar’19 - Feb’20) to register a Y-o-Y rise of 7.96%. The figure includes both semi-finished and finished steel output.

Mining News Pro - Imported Scrap offers to South Asia have been moved down considerably over the span of last one week, with the conclusion of several bulk cargoes to Bangladesh as well as Pakistan, pulling the tradable price level further low. Continuation of the severe container shortage has resulted in limited offers in containers from global suppliers, while high freight charges have made buyers cautious for fresh bookings.

Mining News Pro - This week Chinese steel prices exhibited optimistic market sentiments with improvement in steel prices amid measures taken by the government to push buying activities in both domestic and export markets. HRC and rebar export offers remained stable. Domestic billet prices gained momentum. Iron ore prices moved up amid measures adopted by the Chinese government. However, coking coal offers inched down on a weekly basis.

Mining News Pro - Steel Authority of India Ltd (SAIL) conducted auction for around 1,800 MT steel grade pig iron today from its Rourkela steel plant (RSP). The auction witnessed active participation over reduction in base price by INR 700/MT (USD 10).

Mining News Pro - Beside building industry, Esfahan Steel Company will ensure the safety of mines in Iran by producing standard products.

Mining News Pro - For the consecutive week, the billet import offers in the SE Asian region remained stable.

Mining News Pro - Esfahan Steel Company experienced 59% growth from its product sales in February.

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