Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
MOSCOW, July 17 (Reuters) – ArcelorMittal Temirtau, a Kazakh unit of the world’s largest steelmaker, will suspend the export of hot-rolled steel coils to Iran due to the re-imposition of U.S. sanctions, Alex Agoureev, an adviser to the company, told Reuters.
“Supplies to Iran will be temporarily suspended due to the sanctions. Once sanctions are lifted, the supplies will be resumed,” said Agoureev, an adviser to ArcelorMittal CIS CEO Paramjit Kahlon.
He did not say when the suspension would happen or provide further details.
In May, President Donald Trump withdrew the United States from the Iran nuclear deal and ordered the reimposition of U.S. sanctions against Tehran that were suspended under the 2015 accord. A range of U.S. sanctions is due to kick in after a “wind-down” period ends on Aug. 6
(Reporting by Diana Asonova; Editing by Adrian Croft)
