Economy, Business And Markets

IME to Take Over Cement Exports

IME to Take Over Cement ExportsIME to Take Over Cement Exports

Plans are underway to delegate cement exports to Iran Mercantile Exchange due to complications in Iran’s main cement market, Iraq, announced Secretary of Cement Producers and Exporters Association Abdolreza Sheikhan.

“Tons of clinker are currently piled up in depots and cement factories grappling with shortage of liquidity have turned to exporting this raw material,” ISNA quoted Sheikhan as saying.

The official explained that Iraqi cement producers have exploited this situation and pushed Baghdad to increase import tariffs on Iranian cement to use cheaply imported clinker to bolster their domestic cement industry.

According to Sheikhan, talks have been held with Trade Promotion Organization of Iran to conduct cement and clinker exports in a more organized and regulated manner through the IME, making Iraq “play the game by our rules.”

He added that until agreements can be finalized on this transition, a four-member committee made up of a representative of cement association, a representative of the Islamic Republic of Iran Customs Administration and two deputy industries, mining and trade ministers will handle cement and clinker exports.

Iran’s cement exports ranked first in the world with 19 million tons last year. In terms of production, Iran ranks first in the Middle East and fourth in the world. Last year’s output stood at 75 million tons.