Domestic Economy

ESCO Calls for Rise in Iron Ore Export Duty

ESCO Calls for Rise in Iron Ore Export DutyESCO Calls for Rise in Iron Ore Export Duty

Despite the 25% customs duty imposed on the export of iron ore, the export of raw materials used in steelmaking is continuing and the duties have not discouraged exporters at all, the managing director of Esfahan Steel Company said.
Mansour Yazdizadeh also believes that a 40% customs duty should be imposed on iron ore exports to prevent the depletion of iron ore reserves, ILNA reported.
ESCO is in desperate need of iron ore in the form of fines/lumps, and domestic iron ore demand has gone up, he added.
The Ministry of Industries, Mining and Trade imposed 20-25% tariffs on the export of unprocessed minerals, including iron ore, as of Sept. 23.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment