Iron and Steel

Mining News Pro - Purchase Manager of Esfahan Steel Company: “There is no need to buy excess and bear the cost of warehousing. We have good export market and clients.”

Mining News Pro - Rio Tinto, the world’s second-biggest producer of iron ore, is said to have cancelled plans to sell its Iron Ore Company of Canada (IOC) business after failing to settle on a suitable price with potential buyers.

Mining News Pro - Data released on Monday showed Chinese steel output rebounded in August rose 9.3% from the same month a year before to 87.3m tonnes; not far off the record set in May this year, according to the World Steel Association.

Mining News Pro - The 11th International Exhibition of Metallurgy, Steel, Foundry, Machinery and Related Industries has been held in Isfahan. CEO of ESCO explained about the companies plan in this conference.

Mining News Pro - Hormozgan Steel Company had 182 percent of net profit growth in Q1 compared to the same period last year.

Mining News Pro - Hormozgan Steel Company has sold 230 thousand tons of export and 218 thousand tons of domestic steel which caused 82 increase in sales rate of this company.

Mining News Pro - Global ferrous scrap prices observe softening in almost all major markets on weak demand this week except East Asia. Turkey steelmakers booked a single cargo, however, Japanese scrap prices observe marginal correction in the monthly Kanto monthly export tender. Chinese scrap prices lowered successively on sharp fall in Iron ore prices with three price cuts announced for domestic scrap purchase by Shagang Steel.

Mining News Pro - Tata Steel will be recalibrating its capital expenditure for the current financial year from INR 12,000 crore to INR 8,000 crore, the company’s CEO & Managing Director, T.V. Narendran, told mediapersons on the sidelines of the launch of its steel retail store ‘steeljunction’ in a new avatar, in Kolkata on Saturday. He further said Tata Steel was in the process of simplifying its corporate structure and that the company was looking at creating a downstream company for many of its downstream assets.

Mining News Pro - Esfahan Steel Company exported 55 percent of its products and by the end of the year the exports will reach 1.2 million tons.

Mining News Pro - Researchers at the University of Colorado Boulder’s Department of Geological Sciences are studying the possibility of mining metals from asteroids in space using bacteria.

Mining News Pro - The government of Sierra Leone has cancelled or suspended the licences of several big mining projects, including the Tonkolili and Marampa iron ore mines, the Financial Times reported on Friday.

Mining News Pro - Minister of Labour and Social Affairs: “1.7 million tons of iron ore of Iran Central Iron Ore Company (ICIOC) and Bafgh will be dedicated to Esfahan Steel Company for supplying their raw material.”

Mining News Pro - TATA Metaliks Limited (TML) - known as the largest Foundry grade pig iron manufacturer in eastern India has again reduced Foundry pig iron offers by INR 600/MT (USD 9) & Low Silicon pig iron by INR 500/MT (USD 7) today.

Mining News Pro - Mobarakeh Steel Company’s production of cold-formed Steel has reached a new level and they established a new record.

Mining News Pro - The Ukrainian arm of the world’s biggest steelmaker said on Saturday that the state security service had searched its plant in Kryvyi Rih, a week after new Ukrainian President Volodymyr Zelenskiy criticized the management.

Mining News Pro - Khouzestan Steel Company sold 995 thousand tons of products including 408 thousand tons of exported billet and bloom, 268 thousand tons domestic and 140 thousand tons of imported slab and earned 295.9 million dollars.

Mining News Pro - The steelmaker has lowered the domestic scrap purchase prices by another JPY 500-1000/t today after witnessing 7 price cuts in June month.

Mining News Pro - Towards the end of this week imported HRC offers to Vietnam inched up further on the back of hike in offers. However deals at increased offers were not yet reported.

Mining News Pro - Esfahan Steel Co plays an important role in Iran’s industry and supports the new and old industries.

Mining News Pro - In order to supply the domestic demands, Mobarakeh Steel Group (Including Mobarakeh Steel, Hormozgan Steel, and Saba Steel) plans to produce more than 8.5 million tons of crude steel.

In Picture

Mining News Center