According to the data maintained by SteelMint, Iran’s iron ore exports via bulk shipments in fourth month of current Persian year (July’19) was recorded at 1.87 MnT, up 44% as against 1.30 MnT a month ago.
Spot iron ore prices moved up in June’19
Monthly average global iron ore fines (Fe 62%) prices in June’19 recorded at USD 109/MT as against May’19 at USD 99/MT, CFR China.
On yearly basis, the exports have depicted 57% rise as compared to July’18 exports at 1.19 MnT.
Iran pellet exports dropped to nil in July’19
Iran’s pellet exports for the month of July’19 recorded nil as compared to 0.52 MnT in June’19.
Iranian iron ore exports to China up 34% M-o-M
China stood the largest importer of Iranian iron ore in July’19 at 1.74 MnT, up 34% on monthly basis as against 1.30 MnT a month ago. Exports to Chinese mills have picked up amidst Vale confirming shortfall of material for the year.
Exports to Malaysia recorded at 0.03 MnT as against no exports in last month. Iranian exports of iron ore to India marked nil for eighth consecutive month in July’19 as it was last witnessed in Nov’18 at 0.05 MnT.
Iran Continues to be world’s 10th largest steel producer for June’19
According to World Steel Association, Iran became the world’s tenth largest steel producer in 2018.
According to the WSO’s report, Iran produced a total of 12.78 MnT crude steel in Jan-June’19, up 6% against same period CY18. The June’19 crude steel production witnessed rise of 6% Y-o-Y to 2.16 MnT.
Also, the current Iranian year production is expected to touch around 30 MnT. The country plans to increase its crude steel capacity from about 30 MnT to about 55 MnT p.a. and exports to 20-25 MnT by 2025. Iran produced 25 MnT of crude steel in 2018, up 18% from 21.2 million tons in 2017.
Iranian Deputy Industry, Mining and Trade Minister for Mining Affairs Jafar Sargini recently said that Iran’s annual steel production is planned to reach 45 MnT by the Iranian calendar year Mar’21-Mar’22.
A total of 12.2 MnT iron ore concentrate was produced during first quarter ( Mar’21-June’21), up 4%Y-o-Y. Iron ore concentrate production for June’19 witnessed 12% growth on yearly basis to 4.12 MnT.
Iran’s Industrial Development and Renovation Organization (IDRO) signed a MoU with a consortium of seven domestic companies for production of 10 MnT of steel in Persian Gulf Mining and Metal Industries Special Economic Zone (PGSEZ) in the southern province of Hormozgan.
Leave a Reply