The 13th Iran International Auto Parts Exhibition opened on Monday in Tehran.Held at Tehran International Fairground, this year’s event brings together 191 foreign and 526 local automotive firms.
The number of foreign companies has declined sharply compared to last year when more than 540 foreign companies and exhibitors attended.
Parts makers from China, India, Taiwan, South Korea, France, Poland, and Turkey are seen in this year’s event.
Industries Minister Reza Rahmani and Mansour Moazemi, director of the Industrial Development and Renovation Organization, along with managers of major local auto companies and part manufacturing firms attended the opening ceremony.
Indian PPGI prices softened this week owing to bearish market sentiments and weak buying interest along with moderate demand prevailing in domestic market.
Indian Ferro Manganese prices remained unchanged from the previous week in both domestic as well as export market. Domestic market is still highly affected by the Malaysian imports
Spot iron ore fines Fe 62% index has picked up to USD 100.4/MT, CNF China as against USD 98/MT, CNF China yesterday. The increase is due to Vale forecast of dam rupture in next week. The prices have hit 5 years high as the prices were last seen in May'14.
India told Iran on Tuesday it will decide on its oil imports after elections end this month, in line with its economic interests, a government source said.
SteelMint has heard that the Hebei province’s Tangshan city has set higher iron and steel capacity cuts target for 2019 after the feedback received from the air pollution inspection team recently.
SteelMint in conversation with trade sources learned that assessment for low-grade iron ore fines export from India has remained stable. SteelMint’s assessment for low grade (Fe 57/58%) iron ore fines prices have remained mostly stable at USD 57-58/MT, FoB India equivalent to USD 67-68/MT, CFR China.