Iran Monthly Iron Ore Exports in Mar’18 Hit Highest in Persian Year

According to the data maintained by SteelMint, Iran exported 2.37 MnT iron ore via bulk shipments in twelfth month of Persian year FY’18 (during 20th Feb- 20th Mar’18). Thus, the exports have witnessed a rise of 24% M-o-M in Mar’18 as against 1.91 MnT in previous month. Monthly exports in Mar’18 have recorded highest in FY’18.

This increase in exports could be attributed to reduced exports from Goa, owing to closure of mines, favouring exports from Iran.to China.
In FY’18, the total exports stood at 20.68 MnT with China being the largest importer at 19.66 MnT, contributing 95% of total import share, followed by Malaysia at 0.31 MnT and Russia at 0.04 MnT.

China’s bulk iron ore imports from Iran in Mar’18 stood 1 year high

China continues to remains the largest importer of Iran iron ore for the month of Mar’18 with 97% share and imported 2.31 MnT iron ore in Mar’18 (up 26% M-o-M ) compared to 1.83 MnT in Feb’18.

Iran country wise bulk iron ore Exports Mar’18 vs Feb’18

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.
In CY’16, China resumed iron ore import from Goa India, which affected Iran iron ore export. As the share of iron ore export from Goa shot up drastically from 0.21% in CY’15 to 1.51% in CY’16, leaving a limited scope for Iran iron ore exporters. And further the share of Goa iron ore export to China reached 2% in CY’17 and on other hand Iran’s share reached 1.82%.

The Honourable SC of India, cancelled the second renewal of mining lease in Goa and mining activities have put to an end since 15th Mar’18. Over the SC verdict, iron ore export from Goa will be adversely affected and Chinese mills are expected to shift to Iran for iron ore procurement. This is expected to bring better opportunities for Iranian exporters in near future.