Iran Mineral Trade Surplus Hits $2.9b

EghtesadOnline: Iran exported more than 25.47 million tons of mineral products worth over $4.41 billion during the first five months of the current fiscal year (March 21-Aug. 22), down 9.2% in tonnage and up 12% in value compared with the last fiscal year's corresponding period.

News ID: ۷۴۶۰۲۳

18 September 2018

Imports stood at 1.75 million tons worth $1.46 billion, dropping 29% in tonnage and 20.4% in value year-on-year, according to the Iranian Mines and Mining Industries Development and Renovation Organization's latest report, which draws on the Islamic Republic of Iran Customs Administration's data.

The country recorded $2.95 billion in mineral trade surplus for the period under review.

Semi-finished and finished steel products took the lion’s share of exports in terms of value, as 4.48 million tons worth $2.08 billion were shipped overseas, up 24% and 59% YOY in volume and value respectively, Financial Tribune reported.

The category of "other mineral products" was Iran's second biggest exported mineral product value-wise with 4.03 million tons worth $673.77 million. The volume and value of shipments grew 34% and 45% respectively YOY.

Copper and downstream products came third with 211,677 tons worth $469.96 million, down by 31% in tonnage and up by 55% in value YOY.

Following was cement with 7.53 million tons valued at $270.45 million, up 8% in volume and 7% in value.

Other exported mineral commodities from Iran during the period included iron ore with 5.5 million tons worth $235.42 million, stones with 2.68 million tons worth $155.47 million, zinc with 67,282 tons worth $146.24 million, aluminum with 57,933 tons worth $110.59 million, direct-reduced iron with 370,020 tons worth $77.89 million, lead with 49,953 tons worth $60.91 million, coal and coke with 299,739 tons worth $48.49 million, ferroalloy with 24,504 tons worth $38.97 million and chrome with 106,456 tons worth $20.31 million.

Iran also exported 1,439 tons of molybdenum worth $15.82 million, 40,292 tons of pottery and bricks worth $5.59 million, 74.3 tons of antimony worth $0.14 million, 600 tons of alumina powder worth $0.14 million, 39.8 tons of titanium worth $0.14 million, 36 tons of mica worth $0.05 million and 5.8 tons of nickel worth $0.01 million.

As for imports, steel also had the largest share among Iran's imports of mineral commodities in terms of value, as 699,420 tons worth $636.37 million were imported, down 47% and 32% in tonnage and value respectively YOY.

The category of "other mineral products" comprised the second biggest mineral group imported to Iran in five months with 320,881 tons worth $267.26 million, down 23% in volume and 19% in value YOY.

Alumina powder came next with 170,288 tons worth $91.77 million, down 19% in tonnage and up 19% in value YOY.

Other imported commodities included aluminum with 49,361 tons worth $87.25 million, coal and coke with 281,470 tons worth $84.80 million, ferroalloys with 65,409 tons worth $83.76 million, titanium with 21,271 tons worth $65.35 million, pottery and bricks with 13,257 tons worth $47.75 million, zinc with 75,357 tons worth $22.44 million, stones with 23,386 tons worth $20.46 million, lead with 6,639 tons worth $19.38 million, cement with 20,432 ton worth $14.89 million, copper and downstream products with 1,440 tons worth $11.16 million.

Nickel with 591.9 tons worth $9.41 million, chrome with 1,475 tons worth $2.88 million, antimony with 66.1 tons worth $0.57 million, precious metals with 2 tons worth $0.44 million, molybdenum with 9.2 tons worth $0.40 million, mica with 192.9 tons worth $0.26 million and DRI with 226 tons worth $0.25 million constituted other imported products.

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.