Iron, steel ore products prices fall 30 per cent on Iranian markets
Azerbaijan, Baku, Nov.27 /Trend F.Milad/
The price of iron ore products has decreased by 25-30 per cent in the past few weeks, head of the Iran Iron Sellers Union said on Tuesday.
The falling trend of the US dollar price has a direct influence on the price of iron ore products, The IRNA News Agency quoted Mohammad Azad as saying.
"Last year some 23 million tons of steel and iron ore products were used domestically," he added.
Iran exported over 571 million dollars' worth of aluminium, steel and iron ore products in the first six months of current Iranian calendar year which began on March 20.
Iran's steel products exports exceeded over 307 million dollars in the aforementioned period, showing a 14 per cent rise in the terms of value and a 15 per cent rise in the terms of the volume, the IRIB News Agency reported on October 12.
Based on the report, iron ore exports value also stood at 3.77 million dollars. Some 633,000 tons of iron ore have been exported in the aforementioned time span.
Iran produced some 7.5 million tons of crude steel during the first half of the current Iranian calendar year.
Iran will no longer need to import steel products next year once the steel production projects currently underway come on stream, the deputy industry minister said on September 9.
Reza Fatemi-Amin told IRNA that some seven million tons of crude steel is imported annually.
On September 4, Industry, Mine, and Trade Minister Mehdi Ghazanfari said that a number of steel projects with a total output of 12 million tons.
Iran will become one of the world's main steel exporters by March 2016, Ghazanfari said in May 2011.