Iran’s iron ore production on verge of 8 million tons
Baku, Azerbaijan, Aug.5
By Fatih Karimov - Trend:
Iran produced 7.988 million tons of iron ore in spring 2014, which corresponds to the first quarter of the current Iranian calendar year.
Coal concentrate and aluminum ingot production hit 252,100 tons and 89,400 tons in the mentioned period of time, respectively, the IRIB reported on August 2.
Iran exported some 2.8 million tons 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.
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 ton in 2014.
Iran exported around 20 million tons 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.