In recent conversations with industry participants, SteelMint learned that imported scrap offers to Pakistan have come down marginally on slowing down of demand from buyers end. Less clarity globally and resistance from supplier yards to offer openly at lowered prices kept trade activities comparatively low.
News ID: 5686 Publish Date : 2019/08/02
This week, the price of RSA chrome ore has gone up by USD 5-7/MT CIF China due to supply quantity control by major suppliers. This prompted the mainstream producing countries such as Turkey and Pakistan to lift up their offers on future supply.
News ID: 5643 Publish Date : 2019/08/01
A senior official at the National Iranian Gas Company (NIGC) said that the country has given an ultimatum to Pakistan to pave the ground for imports of gas from Iran as undertaken in an earlier contract.
News ID: 5535 Publish Date : 2019/07/28
In recent conversations with industry participants, SteelMint learned that imported scrap offers to Pakistan have recovered moderately after touching record low levels last week, as strengthening in the global market is making suppliers less inclined to sell at low prices.
News ID: 5478 Publish Date : 2019/07/25
Afghanistan and Pakistan have announced readiness to open bank branches in Iran’s free zones or the mainland, according to a Foreign Ministry official in Tehran.
News ID: 5441 Publish Date : 2019/07/24
SteelMint learned in recent conversations with industry participants that imported scrap offers to Pakistan have sharply declined over the last week on softening of prices globally, while trades in good volumes were concluded at favorable prices, with buyers taking advantage of India’s continued absence in the market.
News ID: 5249 Publish Date : 2019/07/17
Global ferrous scrap prices observed mixed trend this week. Turkey observed softening on a standoff between buyers and sellers which has resulted in a sharp correction in global offers towards the closing of the week.
News ID: 5236 Publish Date : 2019/07/17
A World Bank’s tribunal has awarded almost $6 billion to Tethyan Copper Co. (TCC), a joint venture between Antofagasta PLC (LON:ANTO) and Barrick Gold (TSX:ABX) (NYSE: GOLD) Pakistan , settling this way a seven-year battle over a multi-billion-dollar copper and gold reserve in the country.
News ID: 5225 Publish Date : 2019/07/16
The Customs Department in Iran’s Southeastern port city of Chabahar announced that the office has witnessed a 38% rise in its collections in the first 3 months of the current local calendar year (March 21- June 21), compared with the corresponding period in 2018.
News ID: 5162 Publish Date : 2019/07/14
Pakistan ’s government declared its FY20 budget on 11th Jun’19 which has been implemented since the beginning of the new financial year on July 1st. The government has imposed a new tax regime in order to do away with the existing complex regime and realise the actual revenue potential of steel sector and support the industry.
News ID: 5116 Publish Date : 2019/07/11
Pakistan 's local currency - PKR remained volatile against USD over the last one week, keeping domestic steel sentiments uncertain but local steel prices shot up on increased input cost and inclusion of 17% FED with the beginning of the new financial year from July 1st.
News ID: 5010 Publish Date : 2019/07/04
SteelMint learned in recent conversations with industry participants that imported scrap prices have slightly turned up following rebound in Turkey imported scrap assessment. Trades remain limited as suppliers majorly stand-in ‘wait and watch’ mode and non-desperate to offer in the large quantity in the market.
News ID: 4959 Publish Date : 2019/07/01
Sharp currency depreciation has resulted in a sharp hike in domestic steel prices. However, following the global downturn, imported scrap prices in Pakistan are hovering at around 5-6 months low.
News ID: 4856 Publish Date : 2019/06/20
SteelMint learned in recent conversations with industry participants that Pakistan ’s government has declared its fiscal year 2020 budget yesterday.
News ID: 4813 Publish Date : 2019/06/14
Global ferrous scrap markets witnessed downtrend on poor demand this week. Turkish steelmakers remained away from trading activities on public holidays. South Asian market showed little activity with India witnessing limited deals at lowered prices while Pakistan and Bangladesh remaining silent on Eid Holidays.
News ID: 4804 Publish Date : 2019/06/11
Iran will increase its generation of hydro-electricity by 106% this summer, Deputy Energy Ministry for Water and Wastewater Affairs Qassem Taqizadeh Khamesi said.
News ID: 4683 Publish Date : 2019/05/30
Iranian foreign ministry spokesman said Tehran and Islamabad are talks on how to commission the long-waited gas pipeline project that is due to take Iran's gas supplies to its energy hungry neighbor.
News ID: 4668 Publish Date : 2019/05/28
SteelMint learned in recent conversations with industry participants that Pakistan ’s steel market has turned uncertain after its currency hit record low levels.
News ID: 4624 Publish Date : 2019/05/22
The Central Bank of Afghanistan has annulled the operating license of the only Iranian bank which was active in that country.
News ID: 4587 Publish Date : 2019/05/20
SteelMint learned in recent conversations with industry participants that imported scrap offers in containers to Pakistan have dropped to 4-month low amid global price correction observed during the closing of last week.
News ID: 4545 Publish Date : 2019/05/16