Iran Mineral Trade Surplus Rises to $4.7 Billion

EghtesadOnline: Iran's trade of mineral products recorded a $4.74 billion surplus for the nine months ending Dec. 21.

News ID: ۷۸۴۴۷۲

12 January 2019

The country exported 44.72 million tons of mineral products worth over $7.28 billion during the period, down 10% in tonnage and up 1% in value compared with last year's corresponding period.

Imports stood at 2.83 million tons worth $2.53 billion, down 38% in tonnage and 31% in value year-on-year, the latest report released by the Iranian Mines and Mining Industries Development and Renovation Organization shows.

IMIDRO's previous report showed Iran registered about $4.58 billion in mineral trade surplus for the eight months to Nov. 21, according to Financial Tribune.

Semi-finished and finished steel products took the lion’s share of exports in terms of value, as about 7.25 million tons worth about $3.44 billion were shipped overseas, up 11% and 36% YOY in volume and value respectively.

The category of "other mineral products" ranked second with about 7.72 million tons worth about $1.22 billion. The volume and value of shipments grew 15% and 20% respectively YOY.

Copper and downstream products came third with 256,449 tons worth about $642.9 million, down by 55% in tonnage and up by 8% in value YOY.

These were followed by cement with about 12 million tons valued at about $407.7 million, up 1% in tonnage and down 9% in value.

Other exported mineral commodities from Iran during the period were iron ore concentrate with 4.74 million tons worth $346.4 million, stones with 4.53 million tons worth $275.6 million, zinc with 100,360 tons worth $203 million, iron ore (fines/lumps) with 6.68 million tons worth $190.7 million, aluminum with 75,455 tons worth $145.7 million, lead with 79,331 tons worth $99.8 million, sponge iron with 471,884 tons worth $96.8 million, coal and coke with 441,390 tons worth $68.2 million and ferroalloy with 43,520 tons worth $65.7 million.

Chrome with 233,599 tons worth $43.5 million, molybdenum with 2,374 tons worth $24.8 million, pottery and bricks with 66,637 tons worth $9.1 million, titanium with 116.5 tons worth $0.2 million, antimony with 74.3 tons worth $0.1 million, precious metals with 45.8 tons worth $0.1 million, alumina powder with 82.1 tons worth $0.1 million and mica with 84 tons worth $0.1 million were also exported.

As for imports, steel had the largest share among Iran's imports of mineral products during the nine months in terms of value, as 1.09 million tons worth $1.07 billion were imported, down 53% and 38% in tonnage and value respectively YOY.

The category of "other mineral products" ranked second with 510,819 tons worth $476.1 million, down 38% in volume and 28% in value YOY.

Aluminum was next with 84,563 tons worth $166.2 million, down 51% in tonnage and 19% in value YOY.

Other imported commodities included coal and coke with 521,327 tons worth $158.7 million, ferroalloys with 117,304 tons worth $144.6 million, alumina powder with 248,787 tons worth $142.7 million, titanium with 40,270 tons worth $120.5 million, pottery and bricks with 27,571 tons worth $93.3 million, stones with 35,643 tons worth $36 million, zinc with 88,777 tons worth $26.3 million, cement with 40,623 tons worth $31.5 million, lead with 10,142 tons worth $25.3 million and nickel with 1,112 tons worth $18 million.

Copper and downstream products with 1,609 tons worth $14.7 million, chrome with 2,428 tons worth $5.5 million, antimony with 226.5 tons worth $2.3 million, precious metals with 2.1 tons worth $0.9 million, molybdenum with 70 tons worth $0.9 million, mica with 457 tons worth $0.4 million and sponge iron with 276 tons worth $0.3 million were also imported.

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.

Iran is home to more than 7% of global mineral reserves.