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

Iran’s steel ingot production in the first ten months (Mar 21, 2020-Jan 19, 2021) of the Iranian calendar increased by 7pc to 18.75mn mt from the prior-year period, according to media reports citing data provided by the Iranian Mines and Mining Industries Development and Renovation Organization (Imidro).


In the Mar-Jan period, the country’s steel producers manufactured 12.14mn mt of steel products, registering a growth of 2pc as compared with the same period in the preceding year.


In the tenth Iranian month (Dec 20, 2020-Jan 19, 2021), Iran’s steel ingot production stood at 1.68mn mt, up by 4pc from the same month the year before, while steel products output in the tenth month fell by 6pc to 1.13mn mt as compared to the same month in the previous year.


Iran has levied a 25pc duty on the exports of raw minerals, including iron ore since September 2019 to process them in the country for making products with more added value. The Iranian Industries Ministry has said that the duty is going to encourage the production of more processed products such as pellets and concentrate instead of selling the raw minerals, as per media reports.


Iran has said that it exported over 20mn mt of unprocessed iron ore a decade ago, however, the figure has fallen to 6mn mt in the last Iranian fiscal.


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