Minerals and mining products accounted for 37% and 27% of the weight and value of Iran’s total exports in the fiscal 2021-22, according to the spokesman of the Islamic Republic of Iran Customs Administration.
“Total exports stood at 122 million tons (registering a 5% rise compared to that of the previous year) worth $48.6 billion (up 73%), of which 45.4 million tons worth $12.29 billion were minerals and mining products,” Rouhollah Latifi was also quoted as saying by IRIB News.
Metals Grab Biggest Share
Metals accounted for the biggest share of export value last year.
More than 9 million tons of metallic mineral products worth $10.5 billion were exported from Iran in the fiscal 2021-22, registering a 12% rise in tonnage and a 91% rise in value compared to the year before, according to Elaheh Mokri, an official with the Iranian Mines and Industries Development and Renovation Organization.
Steel ingots with $4.15 billion, long steel products with $1.62 billion, copper cathode with $1.36 billion, aluminum ingot with $607 million, flat rolled steel products with $494 million, zinc ingot with $477 million, iron ore and concentrate with $280 million and direct-reduced iron with $238 million were the most important exported metallic mineral products during the period, the Trade Promotion Organization of Iran reported.
The export of these eight products collectively stood at $9.23 billion and they accounted for 87% of the total metallic mineral shipments in the fiscal 2021-22.
During the period under review, among the metallic mineral products, only sanitary valves showed a downtrend in export.
The most valuable exported products were copper cathode with an average price of $9,624 per ton, sanitary valves with $5,833 per ton, zinc ingot with a $3,138 per ton, lead ingot with $2,263 per ton, aluminum ingot with $2,529 per ton, ferroalloy with $1,250 per ton and copper ore and concentrate with $1,073 per ton.
Referring to hurdles in the way of exports, the IMIDRO official said restrictions imposed on the export of metal ores and mineral products in the form of customs duties, decline in demand due to the Covid-19 pandemic, the mandate obliging exporters to supply their products through the mercantile exchange for domestic sales, in addition to sanctions, have challenged traders to advance their medium- and long-term goals.
Steel Exports Fetch $7.4b
A total of 11.69 million tons worth $7.41 billion of steel were exported to 59 countries in the fiscal 2021-22 (ended March 20), IMIDRO reported earlier.
China with 3.54 million tons worth $2.02 billion, accounted for 30.3% of Iran’s total exports in weight and 27.3% in value to top the list of export destinations.
It was followed by Iraq with 1.9 million tons (16.3%) worth $1.26 billion (17%), Indonesia with 1.7 million tons (14.5%) worth $1.09 billion (14.8%), Thailand with 1.17 million tons (10%) worth $750.12 million (10.1%) and the UAE with 724,170 tons (6.2%) worth $544.35 million (7.3%).
The Iranian Steel Producers Association earlier reported that 7.68 million tons of semi-finished steel products were exported from Iran in the fiscal 2021-22, up 25% compared with the previous year.
Billet and bloom had the lion’s share of semis exports with an aggregate of 5.1 million tons, up 12% compared with the previous year’s corresponding period.
Slab exports amounted to 2.58 million tons during the period, up 62% year-on-year.
Exports of finished steel products grew by 20% to 3.4 million tons during the period.
Rebar accounted for the largest portion of finished steel products exported from Iran during the period, with 2.5 million tons. The total volume of Iran’s rebar exports experienced a 36% growth compared with the same period of last year.
Beam exports amounted to 145,000 tons during the period under review, down 15% YOY.
About 200,000 tons of L-beam, T-beam and other types were also exported from Iran during the period, up 6% YOY.
Hot-rolled coil exports amounted to 433,000 tons, registering a 20% decline compared with the year before.
Cold-rolled coil with 17,000 tons registered a 35% decline year-on-year and coated coil with 115,000 tons, up 46% YOY, was the other finished steel product exported from Iran.
Exports of direct-reduced iron increased by 25% YOY to 1.06 million tons, ISPA figures show.
According to IMIDRO, Khouzestan Steel Company exported 2.05 million tons of steel products during the period to register a 37% year-on-year rise and top the list of Iranian exporters.
KSC's exports in the 12th month of last year stood at 454,815 tons, 225% higher compared with the same period of last year.
Mobarakeh Steel Company came next with 1.26 million tons of exports during the 12-month period, up 1% YOY.
MSC exported 228,404 tons of steel products in the 12th month of the previous fiscal year, down 50% YOY. It was followed by Esfahan Steel Company with 1.12 million tons of exports, 16% higher YOY.
The company's exports during the month ending March 20 stood at 81,867 tons, 1% less YOY.
Khorasan Steel Company’s rebar registered the highest growth of 604% in export volume with 78,801 tons during the 12-month period. Khorasan Steel Company’s monthly rebar exports also registered the highest growth in terms of volume, with 6,801 tons of exports, up 293% YOY.
Mineral Riches
Iran is home to 81 types of minerals with reserves totaling 37-40 billion tons, according to Alireza Shahidi, the head of Geological Survey and Mineral Exploration of Iran.
“Construction materials, including gravel, rubble stones, sand and different types of stones, account for 62% of Iran’s mineral reserves, metal minerals constitute 10-15% of total reserves and the rest are non-metallic minerals,” he said.
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.
Iran is home to 81 types of minerals with reserves totaling 37-40 billion tons, according to Alireza Shahidi, the head of Geological Survey and Mineral Exploration of Iran.
“Construction materials, including gravel, rubble stones, sand and different types of stones, account for 62% of Iran’s mineral reserves, metal minerals constitute 10-15% of total reserves and the rest are non-metallic minerals,” he added.
