NEWS
ECONOMY   Banks  

Iran-China Banking Obstacles Cleared: Official

The head of Iran-China Joint Chamber of Commerce said the hurdles in banking transactions between Tehran and Beijing have been cleared.

In an interview with Tasnim, Asadollah Asgaroladi said problems faced by Iranian merchants in trading with China have been resolved.

“As of December 2, a Chinese bank will begin banking transactions with Iran,” he added.

According to Asgaroladi, Iran’s oil sales to China will start next week and Tehran will begin receiving the oil income within the next month.

He also said that China is planned to announce a second bank for interaction with Iran next month.

His comments came a few days after reports that China will restart loading Iranian crude in November after it halted purchases in October.

The Chinese government had previously ordered at least two state-owned companies to avoid buying Iranian oil in the lead-up to the November 4 sanctions review deadline.

The nation’s decision to restart purchases precedes an upcoming meeting between Chinese President Xi Jinping and US President Donald Trump at the Group of 20 summit later this week and coincides with flaring trade tensions between the world’s two largest economies.

News No: 2755
Date: 2018/11/30 - 14:54
News Source: Tasnim News Agency

China  Beijing  Xi Jinping  Asadollah Asgaroladi 

Comments:

Leave a Comment:

   
   
   
 

Tug-of-war: China's steel sector grapples short-term bulls, longer-term bears

China's steel sector, and the imported iron ore upon which it relies, are currently locked in a struggle between largely bearish longer-term structural factors and short-term cyclical influences, some of which are bullish.
 

Chinese Graphite Electrode Prices Inch Down amid Tepid Demand

After remaining stable over the last two weeks, China’s higher grade Graphite Electrode prices plunged down by RMB 2,000/MT (USD 298/MT) this week.
 

Indian Ferro Chrome Offers to China Find Acceptability after Going Higher

Indian Ferro Chrome prices remains unchanged in the domestic market amid sluggish market conditions. However, prices in the global market have risen.
 

Imported HRC Offers to Bangladesh Increase Following Hike in Offers from China

SteelMint in conversation with market participants learned that Imported HRC offers to Bangladesh reported surge by around USD 15-20/MT from China.
 

Pellet Inquiries from China Remain Dull as Mills Prefer Low Grade Ore

According to the market participants report to SteelMint, Chinese mills continue to prefer low-grade iron ore which in turn kept inquiries for Indian pellets on the lower side. Even pellet port stocks in China have registered an increase in the last couple of weeks.
 

Global Ferrous Scrap Market Overview - Week 10, 2019

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.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners