Iran: Iron Ore Export Hit Five Months High in Current Persian Year
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According to the data maintained by SteelMint, Iran exported 1.86 MnT iron ore via bulk shipments in eleventh month of current persian year (during 23rd Jan- 21st Feb'18). Thus, the exports have witnessed a rise of 16% M-o-M in Feb'18 as against 1.60 MnT in previous month. The export in Feb'18 have recorded highest since Oct'17.
China's bulk iron ore imports from Iran increased in Feb'18 -
China continues to remains the largest importer of Iran iron ore for the month of Feb'18 with 97% share and imported 1.79 MnT iron ore in Feb'18 (up 12% M-o-M ) compared to 1.60 MnT in Jan'18. Other major importer of Iranian iron ore was Pakistan at 0.03 MnT of iron ore.
Iran country wise bulk iron ore Exports Feb'18 vs Jan'18
| Country | Feb'18 | Jan'18 | M-o-M (%) |
| China | 1.79 | 1.60 | +12% |
| Pakistan | 0.03 | - | +100% |
| N/A | 0.04 | - | +100% |
| Grand Total | 1.86 | 1.60 | +16% |
Qty in MnT
Source: SteelMint Stats, Keyvan Jafari Tehrani
Provisional Data
According to the United States Geological Survey, Iran holds 10th largest iron ore reserves. Iran exported around 19.40 MnT of iron ore to China in CY'17, registered a growth of 34% Y-o-Y.
In CY'16, China resumed iron ore import from Goa India, which affected Iran iron ore export. As the share of iron ore export from Goa shot up drastically from 0.21% in CY'15 to 1.51% in CY'16, leaving a limited scope for Iran iron ore exporters. And further the share of Goa iron ore export to China reached 2% in CY'17 and on other hand Iran's share reached 1.82%.
The Honourable SC of India, cancelled the second renewal of mining lease in Goa and no mining activities will continue post 15th March. Over the SC verdict, iron ore export from Goa is expected to decline and Chinese mills could shift to Iran for iron ore procurement. Since, Goa contributes to about three fourth of total Indian iron ore exports to China, the cancellation of mining lease could bring better opportunities for Iranian exporters.
