Iran is expected to export close to 15 million tons of iron ore by the end of the current fiscal year (started March 20), the head of Iranian Iron Ore Producers and Exporters Association said. Ghadir Qiafeh also pointed to the global recovery in iron ore prices as the main incentive to boost exports. In 2015, Iran exported 14.8 million tons of iron ore, down 35% compared to 21.8 million tons in 2014 and ranks 11th leading exporter of the steelmaking material in the world. Most of Iran’s iron ore exports were dispatched to China. In 2015, exports to China decreased by 40% from 2014 to 13.2 million tons owing primarily to prevailing low global prices.
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