Iranian Mineral Trade Data Show $2.3b Surplus

EghtesadOnline: Iran exported more than 43.57 million tons of mineral products worth over $5.4 billion during the 10 months to Jan. 19, accounting for 15.3% of Iran’s total exports during the period.

News ID: ۷۴۰۲۲۳

07 March 2017

Mineral imports stood at 4.92 million tons worth $3.08 billion to constitute 8.5% of all imports, according to Iranian Mines and Mining Industries Development and Renovation Organization.

China was the main export destination for Iranian mineral products, as it imported 22.9% or $1.23 billion of all mineral shipments from Iran during the period. Following China were Iraq with $716 million, the UAE with $494 million, Turkey with $376 million, Italy with $304 million, Taiwan with $288 million, Afghanistan with $262 million, Oman with $242 million, India with $221 million, Thailand with $209 million, Turkmenistan with $120 million, Spain with $109 million and Pakistan with $74 million.

The descending order was further led by South Korea with $70 million, Kuwait with $66 million, Jordan with $61 million, Brazil with $59 million, Egypt with $59 million, Morocco with $42 million, Qatar with $41 million and “other countries” with $357 million, Financial Tribune reported.

Crude steel and steel products took the lion’s share of exports in terms of value, as 5.29 million tons worth $2.19 billion were shipped overseas during the 10-month period.

Copper and copper products followed with 669,618 tons valued at $601.9 million.

Other exported mineral commodities included iron ore with 15.89 million tons worth $597.1 million, cement with 10.32 million tons worth $406.8 million, stones with 4.33 million tons worth $264.1 million, aluminum and aluminum products with 152,407 tons worth $215.2 million, zinc with 147,711 tons worth $193.4 million, lead with 135,146 tons worth $186.84 million and ferrous products with 25,558 tons worth $39.72 million.

Other minerals with significant volumes of exports included coal with 250,059 tons worth $22.11 million, molybdenum with 2,935 tons worth $21.65 million, precious minerals (gold, silver etc.) with 25 tons worth $1.06 million, titanium with 119 tons worth $184,148, mica with 63 tons worth $136,384, nickel and nickel products with 17 tons worth $123,490, antimony with 23 tons $34,500 and “remaining mineral products” with 669,618 tons worth $593.47 million.

Crude steel and steel products were also Iran’s top imported mineral commodities in terms of value, as 3.38 million tons worth $2.11 billion were imported over the 10 months.

Aluminum and titanium followed with 353,254 tons worth $284.1 million and 49,467 tons valued at $98.92 million.

More than 258 million tons of mineral products were produced in Iran during the 10-month period.

Mineral exports and imports during the past Iranian year (March 2015-16) stood at $7 billion and $4.44 billion respectively.

Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves.

According to the United States Geological Survey, Iran holds the world’s largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite and 10th largest uranium reserves. Overall, Iran is home to more than 7% of global mineral reserves.