Economy, Business And Markets

Iron Ore Exports Plunge

Iron Ore Exports PlungeIron Ore Exports Plunge

Iran’s Iron ore exports have drastically dropped after the low-grade hematite iron ore’s export in the first seven months of the current Iranian year experienced a 90.01 percent decline (March 21-October 22) compared to the same period last year, Fooladnews reported. According to the latest statistics released by the Islamic Republic of Iran Customs Administration (IRICA), iron ore exports hit $13.2 million in the seven-month period, indicating a gloomy period for the industry. Iron ore was ranked as the 37th highly exported non-oil commodity in the seventh month of the Iranian calendar year (Mehr, September 23-October 22), accounting for 0.48 percent of Iran’s total exports in that month. Based on Fooladnews report, iron ore was the 7th highly exported non-oil commodity in the first 7 months of the year, accounting for 2.63 percent of the total export value.