$3.12b in Iran's Mineral Trade Surplus

EghtesadOnline: Iran exported more than 53.33 million tons of mineral products worth over $7.58 billion during the first 10 months of the current fiscal year (March 21-Jan. 20), down 1% in tonnage and up 4.6% in value compared with last year's corresponding period.

News ID: ۷۸۱۸۶۷

24 February 2018

Imports during the same period stood at 9.55 million tons worth $4.46 billion, registering a 78.7% and 32.4% growth in tonnage and value respectively year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization announced.

Mineral exports accounted for 51% and 20.5% of Iran’s overall exports during the 10 months under review in terms of volume and value respectively, as imports made up 31% and 10.4% of the total imports.

Direct-reduced iron had the highest growth among all exported and imported minerals in both volume and value. Its exports rose 316% and 62% YOY to 586,029 tons worth $150 million. DRI imports skyrocketed by 21,199% and 6,900% YOY to 32,124 tons worth $8.9 million, Financial Tribune reported.

Semi-finished steel took the lion’s share of exports in terms of value, as 7.27 million tons worth $2.71 billion were shipped overseas, up 29% and 11% YOY in volume and value respectively.

Pottery, brick, ceramic and tile shipments followed with 6 million tons worth $886 million, down 29% in trade volume and value YOY.

Iron ore came next with 15.89 million tons worth $877 million. The volume of shipments dropped by 2% while its value rose 44% respectively YOY.

It was followed by cement with 12.9 million tons valued at $482 million, up 4% and 1% in volume and tonnage respectively.

Other exported mineral commodities during the 10-month period included steel products with 601,077 tons worth $447 million, copper with 379,505 tons worth $409 million, zinc with 157,530 tons worth $325 million, stones with 4.96 million tons worth $291 million, aluminum with 156,244 tons worth $283 million, lead with 110,832 tons worth $187 million, direct-reduced iron with 586,029 tons worth $150 million, ferroalloys with 26,594 tons worth $46 million and molybdenum with 3,347 tons worth $34 million.

Mineral exports included precious minerals (gold, silver etc.) with 57 tons worth $29 million, chrome with 140,617 tons worth $23 million, coal with 176,718 tons worth $24 million, alumina powder with 96,476 tons worth $10 million, nickel with 66 tons worth less than $10 million, titanium with 178 tons worth less than $10 million, mica with 127 tons worth less than $10 million, antimony with 24 tons worth less than $10 million and “other minerals” with 3.85 million tons worth $376 million.

As for imports, semi-finished steel also had the largest share among Iran's imports of mineral commodities in terms of value during the period, as 3.11 million tons worth $1.79 billion were imported, up 1% and 14% in tonnage and value respectively YOY.

Steel products followed with 495,807 tons worth $659.5 million, down 6% in volume and value YOY.

Copper came next with 50,102 tons worth $235.9 million, up 942% and 606% YOY 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.