CHINA REBAR: Sentiment bearish despite higher mill offers pushing up prices China import billet prices largely flat but sellers bullish Iron ore market on Chinese market holidays Alliance of Russian steelmakers to protect environment China Development and Reform Commission efforts to supply steel power
The total index of Tehran Stock Exchange with a growth of 1.3 percent on Tuesday showed that it is ready for further growth in the coming days. Simultaneously with the inauguration of the new president of the market, it gave the green light and satisfaction to this event. There are risks in the development of the stock market that are mostly related to political issues. It remains to be seen what trend traders will follow in the coming days.
Steel ingots trading returned to the trading ring after about twenty days. Despite the growth in demand in this sector, due to the severe shortage of six in the market, there are losses in the current pricing. The unconventional margin targets the production of balance ingots in steel chain pricing. This damage should have been thought of earlier than today.
It seems that the price of sponge iron in world transactions has reached its peak and in the coming days we will see a drop in prices in this market. Due to the recent decline in iron ore prices due to the Chinese decisions, the market is experiencing a recession and expectation. The reduction of sponge iron premiums is also one of the high probabilities in the current market.
Due to the withdrawal of large industrialized countries from the Corona crisis, we are witnessing the growth of maritime shipments of mineral shipments in large companies. Rio Tento exports, for example, rose 9.13 percent to 6.18 million tons a week. These shipments were made from Dampir port and Cape Lambert. Average weekly shipments were estimated at 5.67 million tonnes in the past four weeks
Data released by the Customs Administration of the Islamic Republic of Iran (IRICA) show that the value of Iran's mineral exports in the third solar month of June (May 22-June 21) was $ 1.29 billion, which is an unprecedented record. The mining sector in Iran should not be overlooked by the authorities. It seems that mines alone can replace the sale of oil and Iran's oil economy.