Iran-Singapore Commercial Committee was officially established on Wednesday, the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture for international affairs said.
“Our plan for ICCIMA's International Department is to expand activities and attract enough members over the next six months for the committee to turn into an Iran-Singapore chamber of commerce,” Mohammad Reza Karbasi was also quoted as saying by ICCIMA's news portal.
Based on the latest report by Trade Promotion Organization, Iran exported close to $40 million worth of commodities to Singapore during the first 10 months of the current Iranian year (March 21, 2018-Jan. 20), and imported goods worth $762 million in return.
Finish long Steel (Bar and Rod) imports in India moved up sharply by 19% in Jan’19 and registered at 51,579 MT against 43,319 MT in Dec’18, as per recent released custom data.
Bhushan Power & Steel - a major integrated steel maker with a capacity of 3.5 MnT has recorded iron ore sourcing at 0.22 MnT in Jan'19. The sourcing witnessed drop of 32% on monthly basis as against 0.33 MnT a month ago.
NMDC Ltd, India's biggest iron ore producer, has raised prices of the mineral from its CG mines by up to INR 490/MT (upto 17%) effective from tomorrow, SteelMint learned from market sources.
Vale- world's largest iron ore miner post the dam collapse of 25th Jan is proceeding with decommissioning of Forquilha I, Forquilha II, Forquilha III and Grupo dams which is expected to affect around 3 MnT production loss in 2019.
Iran-Bulgaria Economic Cooperation Commission is scheduled to hold a meeting in Sofia from April 15 to 18.
Chinese spot iron ore fines prices this week have dropped yesterday by USD 4/MT to USD 90.2/MT, CFR China against USD 94.20/MT, CFR China towards last weekend. The prices have softened amidst low buying interest from Chinese mills post mills reopened on Monday after week long New Year holidays. The Chinese mills also seem to have enough stocks to fulfill demand in upcoming days.