Iran Iron Ore Concentrate Output Cross 39 MnT in Apr'19-Jan'20

Iran iron ore concentrate production during the first ten months of the current Persian year (Apr'19-Jan'20), witnessed 3% rise Y-o-Y to 39.341 MnT as against same period last year at 38.162 MnT, as per IRIB.

According to Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), in the first ten months of Persian year, 22.512 MnT stood iron ore conglomerate (down 2% Y-o-Y). Also the data depicted, 3.459 MnT of granulated iron ore production for first ten months, down 39% on yearly basis.

Iran's exports of iron ore concentrate for the past Iranian year stood at 5.552 MnT, up almost twice on yearly basis. Amid, rising exports from the country, Iran has levied a 25-percent duty on the exports of iron ore since September 23.

The policy of tariffs is mostly to avoid exporting raw iron ore, creating more additional value, and meet the requirements from domestic steel industries. The new duty is encouraging production of more processed minerals such as pellet and concentrate instead of selling the raw minerals.

~ Inputs from Tehran Times