The 13th Iran International Auto Parts Exhibition opened on Monday in Tehran.Held at Tehran International Fairground, this year’s event brings together 191 foreign and 526 local automotive firms.
The number of foreign companies has declined sharply compared to last year when more than 540 foreign companies and exhibitors attended.
Parts makers from China, India, Taiwan, South Korea, France, Poland, and Turkey are seen in this year’s event.
Industries Minister Reza Rahmani and Mansour Moazemi, director of the Industrial Development and Renovation Organization, along with managers of major local auto companies and part manufacturing firms attended the opening ceremony.
Pellet offers for this week increased sharply in the recently concluded deals. SteelMint’s assessment stands at INR 6,900-7,000/MT (ex-Raipur, GST extra) against last week’s assessment of INR 6,600/MT. Current prices are hovering at 3-month high.
Sponge iron market seems to remain strong, as per manufacturers in central & eastern India. Rising raw material prices & active demand are likely to keep Indian sponge iron prices supported, they added.
Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.
SteelMint in conversation with market participants learned that Indian HRC import prices from Japan reported decline by USD 15-20/MT in recent booking for July shipments.
It seems that the Graphite electrodes shortage that has cropped up in China in the latter of 2017 amid closure of polluting GE units seems to settle out as considerable surge have been recorded in country’s electrodes production as well as exports for the first quarter of 2019.
Department of Mines and Geology (Govt. of Karnataka) has floated the tender for auctioning of 4 iron ore blocks in Karnataka for its 4th phase.