Iran Mineral Trade Surplus at $2.7b

Iran exported more than 48.66 million tons of mineral products worth over $6.85 billion during the first nine months of the current fiscal year (March 21-Dec. 21), registering a 1% and 3% growth in tonnage and value respectively compared with last year’s corresponding period.

Imports during the same period stood at 9.1 million tons worth $4.08 billion, registering an 86% and 33% increase in tonnage and value respectively year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization announced.

Mineral exports accounted for 55% and 22% of Iran’s total nine-month shipments in terms of volume and value respectively. Mineral imports made up 34% and 11% of the volume and value respectively of total imports.

Direct-reduced iron had one of the highest growths among exported commodities and the highest in imports in both volume and value. Its exports rose 364% and 63% to 538,000 tons worth $140.27 million. DRI imports skyrocketed by 47,798% and 14,795% to reach 32,000 tons worth $8.72 million tons respectively.

Semi-finished steel took the lion’s share of exports in terms of value, as 6.37 million tons worth $2.34 billion were shipped overseas, up 23% and 3% YOY in volume and value.

Pottery, brick, ceramic and tile shipments followed with 5.99 million tons worth $884.4 million, down 23% in trade volume and value YOY.

Iron ore came next with 14.31 million tons worth $797.2 million. The volume and value of shipments recorded rises of 3% and 52% respectively YOY.

It was followed by cement with 11.69 million tons valued at $433 million, up 4% in value and down 1% in tonnage respectively.

Other exported mineral commodities during the nine-month period included steel products with 544,000 tons worth $389.8 million, copper with 344,000 tons worth $379.3 million, zinc with 149,000 tons worth $302.3 million, stones with 4.55 million tons worth $267.6 million tons, aluminum with 144,000 tons worth $260.6 million, lead with 102,000 tons worth $169.9 million, direct-reduced iron with 538,000 tons worth $140.2 million, ferroalloys with 22,000 tons worth $38.71 million and molybdenum with 3,000 tons worth $30.6 million.

Precious minerals (gold, silver etc.) with less than 1,000 tons worth $26.82 million, chrome with 140,000 tons worth $22.45 million, coal with 162,000 tons worth $20.2 million, alumina powder with 87,000 tons worth $8.63 million, nickel with less than 1,000 tons worth $360,000, titanium with less than 1,000 tons worth $240,000, mica with less than 1,000 tons worth $140,000, antimony with less than 1,000 tons worth $27,000, and “other minerals” with 3.49 million tons worth $339.5 million completed the list of exported products.

As for imports, semi-finished steel also had the largest share among Iran’s imports of mineral commodities value-wise in the nine-month period, as 2.91 million tons worth $1.65 billion were imported, up 2% and 14% in tonnage and value respectively YOY.

Steel products followed with 466,000 tons worth $608.1 million, down 4% and 6% in volume and value YOY respectively.

Copper came next with 49,000 tons worth $230 million, up 902% and 653% respectively YOY.

Iran is home to 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.