A total of 15.69 million tons of mineral products worth $2.17 billion were exported from Iran in the first five months of the current fiscal year (March 20-Aug. 21).
According to a new report released by the Iranian Mines and Mining Industries Development and Renovation Organization, steel topped the list of exports in terms of value with $1.11 billion. It was followed by copper with $334.12 million and cement with $120.98 million.
In terms of tonnage, cement had the lion’s share with 5.7 million tons, followed by steel with 3 million tons.
Different types of stone ranked third with 1.81 million tons, followed by iron ore in the form of fines/lumps with 1.04 million tons.
According to the IMIDRO data, alumina powder exports saw the biggest jump in terms of value (2,069% year-on-year) to reach $720,000, followed by mica with $10,000 (up 507% YOY), ferro-silico manganese with $130,000 (up 59% YOY), aluminum products with $63.56 million (up 44% YOY) and ferro molybdenum with $5.41 million (up 18% YOY).
The sharpest fall in export value was recorded for iron ore concentrate (down 94% YOY to reach $12.84 million), iron ore in the form of fines/lumps (down 76% YOY to reach $37.73 million) and titanium products (down 74% YOY to reach $30,000).
In terms of tonnage, mica registered the biggest growth (316% YOY) to reach 100 tons, followed by alumina powder (up 153% YOY to reach 400 tons), aluminum products (up 74% YOY to reach 39,200 tons), ferro-silico manganese (up 57% YOY to reach 130 tons) and zinc products (up 30% YOY to reach 82,400 tons).
Iron ore concentrate had the sharpest decline in tonnage with 166,500 tons (down 94% YOY); titanium products with 10 tons (down 83% YOY); ferroalloys with 150 tons (down 79% YOY); and direct reduced iron with 169,300 tons (down 68% YOY).
Metallic Mineral Exports at $1.8b
A total of 5 million tons of metallic minerals worth $1.8 billion were exported over the same five months, according to Elaheh Mokri, an official with Trade Promotion Organization citing figures by the Islamic Republic of Iran Customs Administration.
Copper cathode was the most precious export in this category: 1 ton of copper cathode was exported at $6,415. It was followed by zinc ingot ($1,973 per ton) and lead ingot ($1,667 per ton).
The sharpest export price decrease was recorded for zinc ingot with $535 per ton, aluminum ingot with $267, lead ingot with $250 and copper stone and concentrate with $203.
Main metallic minerals exported during the period included steel ingot worth $767 million, copper cathode worth $263 million, long steel products worth $238 million, zinc ingot worth $73 million, rolled steel products worth $56 million, copper stone and copper concentrate worth $51 million and iron ore and iron concentrate worth $50 million. These exported commodities combined generated $3,710 million and accounted for 83% of Iran's total metallic mineral exports over the period.
The main export destinations of Iran’s metallic minerals over the five-month period included China with $692 million, Iraq with $201 million, Indonesia with $179 million, Turkey with $158 million, Thailand with $128 million, Afghanistan with $102 million, the UAE with $55 million, Oman with $46 million, India with $43 million, Ghana with $43 million and Pakistan with $17 million. They constituted 89% of Iran’s total exports of metallic minerals.
“China purchased $202 million worth of copper cathode and $358 million worth of steel ingot. Indonesia imported $178 million worth of steel ingot from Iran, Afghanistan imported $59 million worth of long steel products and $17 million worth of flat steel products, Turkey purchased $42 million worth of zinc ingot, $38 million worth of copper cathode, $8 million worth of ferroalloy and $28 million worth of aluminum ingot. Thailand imported $125 million worth of steel ingot, Myanmar purchased $27 million worth of long steel products and India bought $23 million worth of copper cathode from Iran over the period,” Mokri was quoted as saying by Mehr News Agency.
Mineral Imports at 1.5m Tons Worth $1.2b
The IMIDRO report further shows imports of mineral products stood at 1.53 million tons worth $1.21 billion during the same period.
Steel also topped the list of mineral imports in terms of value with $492.34 million. It was followed by aluminum products with $113.4 million. Coal and coke as well as ferro manganese came next with $110.61 million and $56.98 million respectively.
In terms of tonnage, coal and coke topped the list with 470,200 tons, followed by steel with 440,100 tons, alumina powder with 99,100 tons and aluminum products with 79,000 tons.
The value of molybdenum imports saw the biggest jump (744% YOY) to reach $310,000. It was followed by precious metals and stones such as gold and silver with $310,000 (up 154% YOY), ferroalloys with $17.35 million (up 68% YOY), steel products with $492.34 million (up 46% YOY) and nickel with $18.14 million (up 37% YOY).
The sharpest fall in import value was recorded for lead (down 98% YOY to reach $270,000), which was followed by zinc products (down 75% YOY to reach $3.74 million), ferro-silico manganese (down 54% YOY to reach $19.41 million), antimony (down 53% YOY to reach $570,000 million) and ferrosilicon (down 51% YOY to reach $170,000).
In terms of tonnage, the import of molybdenum saw the highest jump of 2,219% YOY (less than 100 tons), followed by aluminum products (up 136% YOY to 79,000 tons), steel products (up 73% YOY to 440,100 tons) and nickel products (up 53% YOY to reach 1,200 tons).
Lead products had the sharpest decrease in terms of tonnage (down 98% YOY to 100 tons), followed by zinc products (down 81% YOY to 6,400 ton), ferro-silico manganese (down 53% YOY to 19,800 tons), precious metals and stones (down 50% YOY to 10 ton) and antimony (down 45% YOY to 100 tons).
The above figures suggest Iran's mineral trade during five months under review stood at 17.22 million tons worth $3.39 billion to account for 33.11% and 13.78% of the country’s overall trade (excluding oil) in terms of tonnage and value respectively.
Mineral Reserves
Iran’s mineral reserves currently stand at 50 billion tons. New explorations are expected to increase the figure by 20% to 60 billion tons by the end of the current year (March 2021), according to deputy minister of industries, mining and trade, Daryoush Esmaeili.
Some 410 million tons of minerals were extracted from Iranian mines last Iranian year (ended March 19, 2020), the official was quoted as saying by IRIB News.
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 68 types of minerals.
Iran has the largest area under mineral exploration in the Middle East, according to IMIDRO Chairman Khodadad Gharibpour.
About 65% of Iran’s total explorable mineral areas (1 million kilometers) belong to the organization.
Manager of exploration at IMIDRO Ali Asqarzadeh says the highest volume of explorations in Iran pertains to copper, iron ore and coal.
Gharibpour said most mining explorations in Iran have been carried out at shallow depths, while deeper excavation would lead to a twofold increase in the discovery of mineral reserves.
According to the Persian economic daily Donya-e-Eqtesad, Iran is home to nearly 10,000 mines, only 6,000 of which are active.
