Iran iron ore exports hit 2.8 million tonnes

Business Materials 21 June 2014 15:39 (UTC +04:00)

Tehran, Iran, June 21
By Milad Fashtami - Trend:

Iran exported some 2.8 million tonnes of iron ore in the first two months of the current Iranian calendar year (March 21-May 20).

The figure shows 9 percent decrease compared to the same period last year, Iran's ISNA News Agency reported.

Pakistan, China, the United Arab Emirates, Turkmenistan, and Iraq were the main destinations for Iran's exported iron ore.

Iron ore was at the top of the list of Iran's exported non-oil goods in the previous calendar year (ended on March 20), but it dropped to the fifth place in the first two months of current year.
The global price of iron ore has fallen to below $90 per tonne in 2014.

Iran exported around 20 million tonnes of iron ore in the previous calendar year, which ended March 20.

Iranian officials say the country's domestic need for steel production units caused a sharp decline in the country's iron ore exports last year.

China, Russia and Kazakhstan are among the few trade allies still providing a lifeline to Iran's vital steel and iron ore sector after most Western suppliers and buyers have cut ties due to growing sanctions pressure, Reuters reported in May 2013.

Tehran has ambitious plans to expand domestic steel output and hopes it can in the short term become self-sufficient.