ECONOMY   Banks  

Tehran to Host Commercial Forum With India Next Week

Ajoint commercial forum, scheduled in Tehran on March 13, will host businesses from Iran and India.

The event was planned in a meeting between India’s commercial attaches in Iran and officials from the International Affairs Department of Iran Chamber of Commerce, Industries, Mines and Agriculture on Thursday.

Economic players and business owners from the two countries active in the fields of pharmaceuticals, chemicals, agricultural and livestock products, foodstuff and electronic devices are expected to attend the forum, which will be hosted by ICCIMA, ICCIMA news portal reported.

Representatives from two Iranian banks, namely Agribank and Pasargad, as well as India’s UCO Bank, will be present.

Iran and India are major trading partners. Iran traded 8.54 million tons of non-oil commodities worth $3.63 billion with India during the 10 months of the current fiscal year (March 21-Jan. 20). This registered an 11.65% and 11.42% decline in tonnage and value respectively compared with last year's corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.

Iran’s exports to India stood at 7.08 million tons worth $1.71 billion, down 13.12% and 23.05% in tonnage and value respectively year-on-year. India was Iran’s sixth export destination during the period.

Iran mainly exported urea, methanol, ammonia and bitumen to India during the 10-month period.

India exported 1.46 million tons of goods worth $1.92 billion to Iran, down 3.82% in tonnage and up 2.32% in value YOY. India was the fifth exporter of goods to Iran over the period.

The imports mainly included semi-milled rice, wholly-milled rice, graphite electrodes used in furnaces and tea.

News No: 3834
Date: 2019/03/04 - 21:36
News Source: Financial Tribune

India  Commercial  ICCIMA  India UCO Bank  graphite electrodes 


Leave a Comment:


India: Raipur Pellet Prices Hit 3-Month High

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.

Indian Sponge Iron Prices to Likely to Remain Strong - Manufacturers

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.

Daily Update: Indian Semis Offers Rise Further

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.

Imported HRC Prices to India Decline in Recent Booking from Japan

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.

China’s Graphite Electrodes Industry Performance in Q1 2019

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.

India: Karnataka Govt Invites Bid for 4 Iron Ore Blocks

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.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners