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Iran's Iron Ore, DRI Exports Decline After Imposition of Tariffs

The Ministry of Industries, Mining and Trade began imposing 20-25% tariffs on the export of unprocessed minerals as of Sept. 23 for supporting domestic production and generating more value-added
Iran's Iron Ore, DRI Exports Decline After Imposition of TariffsIran's Iron Ore, DRI Exports Decline After Imposition of Tariffs

Iran’s total exports of iron ore witnessed a noticeable downturn since the seventh Iranian month (Sept. 23-Oct. 22), at the beginning of which the Ministry of Industries, Mining and Trade started to impose tariffs on the export of unprocessed minerals, including iron ore.
The data were released by the Iranian Mines and Mining Industries Development and Renovation Organization.
DRI exports also registered a noticeable decline, similar to iron ore exports, during the eighth Iranian month, as the country’s DRI exports during the month totaled 15,400 tons to register an 82.11% and 40.77% decline MOM and YOY respectively.
Iron ore exports during the eighth Iranian month (Oct. 23- Nov. 21) saw a staggering decline of 75.43% month-on-month and 80.32% year-on-year to reach 311,000 tons. 

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