Iran Mineral Trade Data Out: Exports Up 34% in Value, Imports Down 22%
Iran exported more than 34 million tons of mineral products worth over $4.41 billion in the eight months to November 20, registering a 36% and 34% growth in weight and value respectively compared with last year’s corresponding period.
Imports stood at 3.89 million tons worth $2.4 billion to indicate a 30.2% and 22.3% decline, according to a communique published by the Iranian Mines and Mining Industries Development and Renovation Organization on the social media and seen by Financial Tribune.
Steel and steel products took the lion’s share of exports in terms of value, as 4.3 million tons worth $1.82 billion were exported. The exports registered a 106.6% and 37.7% growth in volume and value respectively.
Mobarakeh Steel Company, Iran’s largest producer of the industrial commodity, accounted for more than 1.23 million tons or 33.9% of the total figure. Khuzestan Steel Company followed with a 1.16 million-ton or 32% share.
Next came Hormozgan Steel Company (subsidiary of MSC) with 739,876 tons or 20.3%, Esfahan Steel Company with 404,606 tons or 11.1%, Khorasan Steel Company with 51,272 tons or 1.4%, Iran Alloy Steel Company with 29,498 tons or 0.8% and Oxin Steel Company with 14,951 tons or 0.4%.
Copper and its downstream products came second among Iran’s top exported minerals with 561,640 tons worth $536 million. The mineral recorded the highest surge in exports volume and value among all commodities, jumping 307.8% and 373.7% year-on-year.
Iron ore was placed third, as more than 11.8 million tons worth $451.5 million were exported, rising 43% and 48.5% year-on-year.
Other exported mineral commodities included cement with 8.47 million tons worth $336.9 million, stones with 3.46 million tons worth $203.6 million, aluminum and its products with 129,780 tons worth $183.4 million, lead with 103,810 tons worth $147.5 million and zinc with 113,280 tons worth $141 million.
Other products include chromium with 340,260 tons worth $49.9 million, ferroalloys with 23,020 tons worth $35 million, molybdenum with 2,540 tons worth $18.3 million, precious metals and stones (gold, silver, etc.) with 20 tons worth $1 million, titanium with 100 tons worth $100,000 , mica with 30 tons worth $100,000 and nickel with 10 tons worth less than $100,000.
Steel and its products were also Iran’s top imported commodities during the eigth-month period as 2.71 million tons worth $1.68 billion were imported, posting a 6.4% and 16.7% decline in volume and value respectively.
Aluminum and titanium occupied the second and third places in terms of imports with 244,600 tons worth $214.1 million and 37,900 tons valued at $73.7 million.
Mineral exports and imports in the past Iranian year (March 2015-16) stood at $7 billion and $4.44 billion respectively.
Iran is home to over 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves.
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.