Iran's industrial and mining sector experienced 18% growth in the first six months of the current Iranian year (started March 21) compared with the preceding year's corresponding period, says Industries, Mining and Trade Minister Reza Rahmani.
Addressing the inaugural ceremony of a copper concentrate production plant in northwest Iran, Rahmani explained that the production of crude steel, finished steel, cement and glass saw a respective growth of 6.5%, 9.1%, 6% and 13% during the same period under review, IRNA reported.
The minister's comments come as top officials speak of economic recovery these days, as the detrimental effects of US sanctions against Iran are said to be dying down.
"Macroeconomic indicators suggest improvement. Reports from every single enterprise confirm this issue," said First Vice President Es’haq Jahangiri recently.
South Korean Ambassador to Tehran Yu Jang Hian underlined the need for the settlement of problems which prevent further development of economic and trade ties and cooperation with Iran.
Chairman of Iran’s Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Qolamhossein Shafyee and Chairman of the Foreign Economic Relations Board of Turkey (DEİK) Nail Olpak, in a meeting in Tehran, exchanged views on ways to boost cooperation between the private sectors of the two countries and to bolster national currency use in bilateral trade.
Drops in steel prices and quota exhaustion changed the trade flows for certain products in and out of the EU in September, Eurofer data show.
Tehran Stock Exchange’s benchmark, TEDPIX, rose 126,435 points since the beginning of the current fiscal year (March 20) to stand at 307,094 as of November 13, indicating 71.89% growth.
China's crude steel output in October slipped to its lowest level since March at 81.52mn t, as narrowing profit margins slowed production slightly.
India's coated steel prices remained flat this week, as demand stayed slow after the festive season ended in October.