Economy, Business And Markets

Iran H1 Iron Ore Exports Earn $490m

Iran H1 Iron Ore Exports Earn $490mIran H1 Iron Ore Exports Earn $490m

Iranian iron ore miners exported over 8.69 million tons of granulated hematite iron ore with over 40% content worth $491.82 million during the first six months of the current fiscal year (March 21-Sept. 22), indicating a 7% and 54% year-on-year growth in shipment volume and value respectively, the Islamic Republic of Iran Customs Administration announced. China was the destination for $476 million of the shipments, with India, Turkey, Germany, Iraq, Turkmenistan, the UAE, Slovenia, Uzbekistan and Armenia accounting for the rest. Hematite iron ore exports for the period accounted for 14.8% and 2.32% of Iran’s total exports in H1, customs data indicate. Iran also exported 352,000 tons of the same material but with less than 40% content in the six-month period with a total value of $7.3 million. This is mostly due to China’s shifting policy on imports of low-content iron ore in line with the country’s new environmental concerns.

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