Updated in: 01 February 2011 - 01:39
Representatives of the world’s steel and iron giants met at the first Regional Mining, Metals and Minerals Summit held in Istanbul on Wednesday and Thursday, and agreed on a great number of deals, a source told the Hürriyet Daily News & Economic Review on the condition of anonymity.
Iranian state officials are seeking opportunities in Turkey, the source said, claiming that state officials attending a meeting with a member of the Iranian Industrialist and Businessmen’s Association signed a deal to purchase 170,000 tons of rail from Turkish group Kardemir A.Ş.
According to the source, Egyptian state officials also placed an order with Kardemir to produce 100,000 tons of rail after July.
The source told the Daily News that Asia’s first integrated steel manufacturer, Tata Steel, is preparing to sell iron ore to Turkey worth nearly $150 million and purchase high-quality sheet metal at around the same price to use in the automotive industry. "There seems to be a kind of long-lasting trade cooperation in steel between Turkey and India,” the source said.
Siemens Vai Metal Technologies, headquartered in Linz, Austria, is aiming to buy iron and steel manufacturing firms in İzmir, İskenderun and Karabük, which are among the main iron and steel manufacturing Turkish cities, the source said, adding that the firm is continuing the negations.
