Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Iran exported 15.69mn mt of minerals worth $2.17bn in the first five months (March 21-Aug 20, 2020) of the Iranian calendar, according to a report by the Iranian Mines and Mining Industries Development and Renovation Organization (Immidro)

Of the total mineral exports, metallic mineral consisted of 5mn mt worth $1.8bn.


The country exported nearly 3mn mt of steel worth $1.11bn in the period, while iron ore exports in the form of fines/lumps worth $37.73mn stood at 1.04mn mt in the five months.


Iran’s direct reduced iron (DRI) or sponge iron exports in the first five months declined by 68pc to 169,300mt compared to the prior-year period.


Alumina exports were worth $720,000, which grew by 153pc to 400mt, while aluminum products exported were worth $63.56mn, a rise of 74pc to 39,200mt.


Iran’s zinc product exports also increased by 30pc to 82,400mt from the prior-year period.


Top importers of Iranian metallic minerals were China, Indonesia, Turkey, Thailand, Afghanistan, the UAE, Oman, India, Ghana, and Pakistan. These countries constitute 89pc of Iran’s export market.


The Iranian Industry, Mining, and Trade Ministry said that it is planning to limit the exports of raw materials to meet domestic demands and create employment. It is also looking to boost exports of finished steel product exports by strengthening industrial chains across the country, as per media reports. 


The country’s current mineral reserves stand at 50bn mt. According to the Iranian Government, new explorations in various parts of the country are likely to increase mineral reserves by 20pc to 60bn mt by March 2021.

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