According to the data maintained by SteelMint, Iran exported 0.96 MnT iron ore via bulk shipments in first month of Persian year FY’19 (during 21st Mar- 20th Apr’18). The exports have witnessed a significant decline of 59% M-o-M in Apr’18 as against 2.33 MnT in previous month. Monthly exports in Apr’18 have recorded lowest in past one year, after depicting record high exports a month before. The decline is due to currency depreciation. Iran has recently enforced a single exchange rate to the USD, banning all unregulated trading after IRR hit an all-time low of Rials 62000 /1USD, now official rate is IRR 42000 / 1 USD.
China’s bulk iron ore imports from Iran in Apr’18 fall by 62%
China continues to remain the largest importer of Iran iron ore for the month of Apr’18 with 89% share and imported 0.86 MnT iron ore in Apr’18 (down 62% M-o-M ) compared to 2.27 MnT in Mar’18. Malaysia and others contributed the remaining exports of 0.11 MnT in Apr’18.
Iran country wise bulk iron ore Exports Apr’18 vs Mar’18
| Country | Apr’18 | Mar’18 | M-o-M (%) |
| China | 0.86 | 2.27 | -62% |
| Malaysia | 0.05 | 0.00 | 100% |
| Philippines | 0.00 | 0.03 | -100% |
| N/A | 0.06 | 0.03 | 75% |
| Grand Total | 0.96 | 2.33 | -59% |
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 is planning to invest in Sangan iron ore mine of Herat Province, located in border areas between Afghanistan and Iran. As mineral resources from Sangan iron ore mine on the Iranian side are nearing depletion, Iran is willing to invest in the Afghanistan part of the mine to fulfill its need of raw materials.
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