Iran iron ore exports down 27 per cent

Business Materials 10 December 2012 16:04 (UTC +04:00)

Azerbaijan, Baku, Dec.10 /Trend F.Milad/

Iran exported some 775,361 tons of iron ore in the first eight months of the current Iranian calendar year which began March 20.

The amount shows a 27 per cent decrease compared to the same period last year.

Iran's domestic need for steel production units caused a sharp decline in the country's iron ore exports.

Head of the Iran Iron Sellers Union Mohammad Azad said on November 27 that last year some 23 million tons of steel and iron ore products were used domestically.

Iran will no longer need to import steel products next year once the current steel production projects come on stream, the deputy industry minister Reza Fatemi-Amin said on September 9.

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 are underway.

Iran will become one of the world's main steel exporters by March 2016, Ghazanfari said in May 2011.