NEWS
Mercantile Exchange  

Metal and Mineral Product Spot Market Trading Ranked Top in IME

Metal and mineral product spot market trading value and volume respectively ranked 1st and 2nd in Iran Mercantile Exchange, IME announced in its quarterly newsletter of winter 2017.

During winter 2017, possessing 41 percent of IME’s trading value, metal and mineral product sector ranked in 1st place of trading goods. Also, trading volume of this sector ranked in 2nd place by 33 percent share in total spot market trading volume.

$1.1billion share of metal and mineral products

Total trading value in metal and mineral product sector from 842 million dollars in winter 2016 increased to one thousand and 115 million dollars in winter2017. In this sector, the highest market share belonged to steel by 74 percent.

Meanwhile, based on the IME’s annual report, Iran’s metal and mineral trading value and volume in 2015 decreased 35 and 19 percent respectively compared to the same period of the year before.

IME elaborated 4 reasons for fall in value and volume in metal and mineral sector; the reasons were:

1.The global status China’s GDP growth rate in 2015 has been 6.9%. 

2. The rise in dollar value Over2015.

 3. The slowdown in the domestic market In 2015.

4. Increased production of iron ore in Brazil and Australia mines and a significant reduction in the base price.

News No: 1134
Date: 2017/05/08 - 04:15
News Source: imidro

market  GDP  IME  Mineral  Metal 

Comments:

Leave a Comment:

   
   
   
 

Iran’s Central Bank to Launch Integrated Currency Market

The Central Bank of Iran is going to launch a unified currency market that would handle the flow of money to and from banks and currency exchange stores.
 

Global Ferrous Scrap Market Overview - Week 2, 2019

This week observed strengthening of demand both in Turkey and Asian markets on limited inventories available.
 

China’s Hebei Encouraging Steel Mills to Relocate Abroad amid Restructuring in Domestic Market

The government of North China’s Hebei province is encouraging the construction of steel-related industrial parks abroad which is in line with country’s Road and Belt initiative (BRI) and government’s efforts of industry restructuring as an attempt to have clearer skies.
 

Imported Scrap Prices Edge Down; Limited Trades Reported

SteelMint learned from market participants that Indian imported scrap market has observed limited trades at corrected prices at the beginning of the week, however, very slow trade movement witnessed over the week to have more clarity about global scrap price direction and it is expected that prices could remain steady in the near term.
 

Australian Coking Coal Prices Keep Falling on Sluggish Steel Market in China

Seaborne premium hard coking coal prices have further declined this week after the sharp fall last week, as inventories continued to build due to the continued lack of buying interest from end-users.
 

Global Energy Metals buys cobalt project near Tesla gigafactory

In its quest to become a niche supplier of cobalt, Global Energy Metals (GEMC:TSX.V) announced it has signed an agreement with Nevada Sunrise Gold Corp to acquire an 85% interest in the Lovelock cobalt mine and the Treasure Box project, located in Churchill County, Nevada.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners