News ID: 264000
Published: 0351 GMT January 06, 2020

IRICA: Value of Iran’s eight-month iron ore exports up 46%

IRICA: Value of Iran’s eight-month iron ore exports up 46%

Iran exported 10.6 million tons of iron ore worth $698 million during March 21-November 22, 2019, indicating a year-on-year growth of 46 percent in value, according to figures by the Islamic Republic of Iran Customs Administration (IRICA).

IRICA statistics show that of the total value of exports in the same period, 38.5 percent pertained to the country’s overseas sales of iron ore concentrate, IRNA reported. 

This is while, as shown by reports, imposition of a 25-percent tax on exports of different kinds of iron ore from Iran as of late September 2019, led to a drop in the country’s monthly overseas sales of the products, reducing the total figure from 1.8 million tons during the time span between July 23-August 22 to 311,000 tons in the 30-day period to November 21.

During the eight-month period to November 22, 2019, Iran exported 4.79 million tons of iron ore fine, indicating a 21-percent decrease compared to the figure for the same period last year.

The value of the country’s iron ore fine exports in the same period, however, stood at $222.11 million, up 37 percent year-on-year.

In the same time span to November 2019, Iron ore fine exports accounted for 45 percent and 31.8 percent of the total overseas sales of iron ore products from the country in terms of weight and value, respectively. 

In this duration, 3.43 million tons of iron ore concentrate valued at $268 million were exported from the country, showing increases of 29 percent and 39 percent weight- and value-wise compared to the figures for the same period last year.

Iron ore concentrate exports in the same eight-month period accounted for 32.3 percent and 38.5 percent of the total weight and value, respectively, of the overseas sales of iron ore from the country.

During March 21-November 22, 2019, Iran sent 2.38 million tons of iron ore pellets, worth $207 million, to foreign markets, showing growths of 63 percent (in weight) and 89 percent (in value), respectively, year-on-year.

Iron ore pellet exports in this period had a 22.5-percent and a 29.6-percent share of the country’s total iron ore products sold in foreign markets.

Iran’s proven iron ore reserves have been estimated to stand at 2.5 billion tons, accounting for 10 percent of the country’s total mineral resources.


 

   
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