IME‘s quarterly trading statistics in spot market shows increase in metal and mineral products trading value in fall 2016.
Iran Mercantile Exchange quarterly newsletter shows total trading value of metal and mineral products in spot market increased from $690 million in fall 2015 to $1165 million in fall 2016.
Based on the report, first rank of trading value in metal and mineral products belonged to steel sector with 75 percent, copper(18%),aluminum (4%),molybdenum concentrates(1%),iron ore(1%) and other products(1%) were in next ranks respectively.
Total value of trading on export pit in fall 2016 was $214 million which witnessed increase from $201 million compared to fall 2015.
It’s worthy to say that 6.94 percent of trading on export was in iron ore sector.
This week Chinese steel market remained abuzz with news over reduction of VAT and Tangshan pollution alerts. HRC and rebar export offers moved up over active buying. Billet export offers also inched up this week. Coking coal offers inched up over resumption in buying from China.
Major ferrous scrap markets exhibited an upward trend except for China. Prices moved up slowly amid positive sentiments in suppliers’ side and anticipation of a recovery in March demand in the near terms.
In the 1st week of March 2019 (2-9th Mar), Indian domestic trade activities were subdued. The mid sized mills reported mix response from domestic buyers over uncertainty in the market.
Steel Authority of India Ltd (SAIL) - India's largest steel maker conducted e-auction for 10,550 MT Steel grade Pig iron today from its Rourkela Steel plant (RSP) based in eastern India.
Me-Metals – In the seventh ceremony of the world prize of the Asian Superior Knowledge Organization and after the evaluation by the international experts of the MAKE world prize, Kashan Amir Kabir Steel Co. succeeded to join the country’s Superior Knowledge Organization and became one of the reputable brands in the world.
Iran’s steel products and crude steel production in the first ten-month of the current Iranian year (March21,2018- Jan20,2019), registering a 7% and 13% growth respectively YOY.