Iran Mineral Exports Earn $5.4b in Seven Months

EghtesadOnline: Iran exported more than 39.1 million tons of mineral products worth $5.41 billion during the first seven months of the current fiscal year (March 21-Oct. 22), registering a 5.5% and 3.1% growth in tonnage and value respectively compared with last year’s corresponding period.

News ID: ۷۴۴۴۲۵

14 November 2017

Mineral imports during the same period stood at 3.15 million tons worth $2.44 billion, registering a 14.3% decline and a 4.7% increase in tonnage and value respectively year-on-year, according to the Iranian Mines and Mining Industries Development and Renovation Organization.

Semi-finished steel took the lion’s share of exports in terms of value, as 4.66 million tons worth $1.66 billion were shipped overseas, up 14.8% in volume and down 9.5% in value YOY, Financial Tribune reported.

Large-scale Iranian steel mills produced 9.57 million tons of semis during the seven-month period, up 14% YOY, according to IMIDRO’s data.

Pottery, bricks, ceramics and tile shipments followed with 5.98 million tons worth $882.9 million, down 1.5% and 1.1% in trade volume and value respectively YOY.

Iron ore came next with 11.09 million tons worth $612.6 million. The volume and value of shipments recorded rises of 11.8% and 60.6% respectively YOY.

Following were copper and copper products with 319,800 tons valued at $330.9 million, down 38.2% and 37.3% in tonnage and value respectively.

Other exported mineral commodities during the seven-month period included steel products with 408,300 tons worth $294 million, cement with 9.07 million tons worth $336.4 million, stones with 3.59 million tons worth $220.4 million, aluminum with 123,000 tons worth $222.9 million tons, zinc with 120,300 tons worth $227.3 million, direct-reduced iron with 496,200 tons worth $129.2 million and lead with 76,300 tons worth $120.6 million.

Ferroalloy export reached 17,100 tons worth $29.2 million, which was followed by chrome with 139,000 tons worth $20.3 million, molybdenum with 2,400 tons worth $23.1 million, precious mineral (gold, silver etc.) with less than 1,000 tons worth $16.8 million, coal with 139,900 tons worth $14.5 million, nickel with less than 1,000 tons worth $200,000, titanium with less than 1,000 tons worth $200,000, mica with less than 1,000 tons worth $100,000 and “other minerals” with 2.78 million tons worth $267.3 million.

China was the main export destination for Iranian mineral products in terms of volume, as it accounted for over 12.44 million tons of shipments worth $1.08 billion.

It was followed by Iraq with 7.44 million tons valued at $962.62 million, Afghanistan with 4.52 million tons valued at $562.26 million, the UAE with 2.84 million tons worth $411.36, India with 1.58 million tons worth $164.64 million, Kuwait with 1.23 million tons worth $69.38 million, Bangladesh with 939,710 tons worth $30.29 million tons, Pakistan with 848,720 tons worth $104.31 million, Oman with 797,160 tons worth $220.48 million and Qatar with 740,140 tons worth $26.06 million.

Mineral products exported to Thailand reached 727,250 tons worth $255.77 million and was followed by Indonesia with 575,020 tons worth $141.08 million, Italy with 538,050 tons worth $230.13 million, Turkmenistan with 428,420 tons worth $95.46 million, Taiwan with 389,620 tons worth $162.6 million, Turkey with 312,970 tons worth $305.45 million, Somalia with 299,190 tons worth $15.73 million, Russia with 298,550 tons worth $32.26 million and Egypt with 279,930 tons worth $81.3 million.

As for imports, semi-finished steel had the largest share among Iran’s imports of mineral commodities in the seven-month period, with the import of 1.37 million tons worth $905.1 million, down 37.1% and 18.3% in tonnage and value respectively YOY.

Steel products followed with 330,300 tons worth $430.9 million, down 8.6% and 16% YOY.

Aluminum came next with 137,500 tons worth $165.2 million, up 137% and 23.6% YOY.

China was also the primary origin for Iran’s import of mineral products in terms of tonnage with 775,270 tons worth $669.57 million, followed by the UAE, Turkey, India, South Korea, Switzerland, Germany, Italy, Russia, Sweden, Belgium, Spain, Australia, Bulgaria, Kazakhstan, Indonesia, Japan and Taiwan.

Major Iranian mining companies produced 197.53 million tons of different mineral products in the seven months, registering a 9.17% growth YOY, according to IMIDRO.

The miners’ performance in the seventh month of the Iranian year ending Oct. 22 indicated a 13.44% YOY rise to 28.91 million tons.

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.