Mineral Imports Double

Iran imported 8.61 million tons of mineral products worth $3.6 billion during the first eight months of the current fiscal year (March 21-Nov. 21), registering a 107% and 38% increase in tonnage and value respectively year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization announced.

Exports reached 44.13 million tons worth over $6.2 billion during the same period, registering a 3% and 4% growth in tonnage and value respectively YOY.

Mineral exports accounted for 56% and 22% of Iran’s total eight-month shipments in terms of volume and value respectively while mineral imports made up 27% and 10% of the total imports.

Direct-reduced iron had the highest growth among all imported and exported commodities in both volume and value. Its exports rose 482% and 73% to reach 527,880 tons worth $137.62 million tons. Its imports also skyrocketed by 71,191% and 21,596% to reach 31,960 tons and $8.66 million tons.

Semi-finished steel took the lion’s share of exports in terms of value, as 5.78 million tons worth $2.11 billion were shipped overseas, up 22% YOY in volume while it remained unchanged in terms of value.

Large-scale Iranian steel mills produced 11.22 million tons of semis during the eight-month period, up 17% YOY, according to IMIDRO data.

Pottery, brick, ceramic and tile shipments followed with 5.98 million tons worth $883.3 million, down 13% in trade volume and value YOY.

Iron ore came next with 12.57 million tons worth $697.5 million. The volume and value of shipments recorded rises of 5% and 52% respectively YOY.

It was followed by copper and copper products with 339,890 tons valued at $359.2 million, down 40% and 36% in tonnage and value respectively.

Other exported minerals during the eight-month period included steel products with 431,700 tons worth $327.9 million, cement with 10.54 million tons worth $385.97 million, stones with 4.17 million tons worth $241.86 million, aluminum with 134,420 tons worth $244.11 million tons, zinc with 133,290 tons worth $262.38 million and direct-reduced iron with 527,880 tons worth $137.62 million.

Lead with 87,370 tons worth $141.79 million, ferroalloys with 19,590 tons worth $33.65 million, chrome with 139,520 tons worth $21.09 million, molybdenum with 2,550 tons worth $25.02 million, precious mineral (gold, silver, etc.) with 40 tons worth $22.08 million, coal with 144,130 tons worth $15.03 million, nickel with less than 70 tons worth $358,260 titanium with 100 tons worth $219,660, mica with 100 tons worth $120,440, and “other minerals” with 3.02 million tons worth $292.6 million were also exported during this period.

As for imports, semi-finished steel also had the largest share among Iran’s imports of mineral commodities value-wise in the eight-month period, as 2.73 million tons worth $1.52 billion were imported, up 13% and 24% in tonnage and value respectively YOY.

Steel products followed with 409,740 tons worth $529.71 million, up 1% in volume and down 16% in value YOY.

Aluminum came next with 159,810 tons worth $206.9 million, up 93% and 29% YOY.

Major Iranian mining companies produced 228.32 million tons of different mineral products in the eight months, registering an 11% growth YOY, according to IMIDRO.

The miners’ performance for Aban, the eighth month of the Iranian year ending Nov. 21, indicated a 21.64% YOY rise to 29.87 million tons.

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.