Iran Mineral Trade Surplus Rises to $4.5b in 8 Months

EghtesadOnline: Iran's trade surplus of mineral products increased to $4.58 billion at the end of the eighth month of the current fiscal year on Nov. 21, latest official data show.

News ID: ۷۴۶۳۲۲

11 December 2018

Iran exported about 39.88 million tons of mineral products worth over $6.87 billion during the period, down 10% in tonnage and up 7% in value compared with last year's corresponding period.

Imports stood at 2.57 million tons worth $2.29 billion, dropping 36% in tonnage and 27% in value year-on-year, the report released by the Iranian Mines and Mining Industries Development and Renovation Organization shows.

IMIDRO's previous report showed Iran registered $3.8 billion in trade surplus for the first seven of the current fiscal year (March 21-Oct. 22), Financial Tribune reported.

Semi-finished and finished steel products took the lion’s share of exports in terms of value, as about 6.58 million tons worth about $3.29 billion were shipped overseas, up 11% and 46% YOY in volume and value respectively.

"Other mineral products" was Iran's second biggest mineral export category value-wise, with about 6.71 million tons worth about $1.17 billion. The volume and value of shipments grew 22% and 36% respectively YOY.

Copper and downstream products ranked third with 229,944 tons worth about $514.81 million, down by 54% in tonnage and up by 1% in value YOY.

These were followed by cement with about 10.86 million tons of exports valued at $391.43 million, up 1% in volume and down 3% in value.

Other exported mineral commodities from Iran during the period under review included iron ore concentrates with 4.11 million tons worth $335.1 million, stones with 3.94 million tons worth $260.71 million, zinc with 92,258 tons worth $187.8 million, iron ore (fines/lumps) with 6.06 million tons worth $183.95 million, aluminum with 71,232 tons worth $145.74 million, lead with 73,056 tons worth $92.39 million, sponge iron with 440,028 tons worth $88.58 million and ferroalloy with 39,144 tons worth $62.49 million.

Coal and coke with 397,435 tons worth $61.16 million, chrome with 185,266 tons worth $39.36 million, molybdenum with 2,063 tons worth $23.44 million, pottery and bricks with 56,917 tons worth $8.2 million, alumina powder with 3,304 tons worth $220,053, titanium with 82.41 tons worth $219,578, antimony with 74.33 tons worth $137,501, precious metals with 0.38 tons worth $115,853, mica with 84 tons worth $76,558 and nickel with 10.55 tons worth $15,802 constituted other major exported minerals.

As for imports, steel also had the largest share among Iran's mineral imports during the eight months in terms of value, as 1.02 million tons worth $982.94 million were imported, down 52% and 36% in tonnage and value respectively YOY.

The import category of "other mineral products" ranked second with 462,520 tons worth $427.95 million, down 33% in volume and 23% in value YOY.

Aluminum followed with 74,443 tons worth $145.41 million, down 56% in tonnage and 26% in value YOY.

Other imported commodities included coal and coke with 451,896 tons worth $139.63 million, alumina powder with 231,695 tons worth $129.85 million, ferroalloys with 101,209 tons worth $127.02 million, titanium with 36,218 tons worth $107.42 million, pottery and bricks with 25,250 tons worth $84.16 million, stones with 33,059 tons worth $32.3 million, zinc with 86,633 tons worth $25.94 million, cement with 32,350 tons worth $24.8 million, lead with 8,851 tons worth $24.63 million and nickel with 967.54 tons worth $15.94 million.

Copper and downstream products with 1,804 tons worth $15.03 million, chrome with 2,290 tons worth $4.82 million, antimony with 170.98 tons worth $1.7 million, precious metals with 2.13 tons worth $824.7, molybdenum with 19.53 tons worth $772,250, mica with 322.65 tons worth $354,368, sponge iron with 276 tons worth $298,680, and iron ore (fines/lumps) with 1 ton worth $1,329 constituted other major imported minerals.

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.