Metals News: The Iranian Mercantile Exchange is seeing more interest among miners for iron ore export.

This was revealed by exchange sources who spoke to S&P Global Platts, London-based provider of energy and commodities information and a source of benchmark price assessments in the energy market.

Over 1.26 million tons of iron ore were traded on IME since the start of the current Iranian year on March 21, less than the same period of last year (2.72 million tons).

However, there has been more interest in recent weeks, according to an IME dealer.

A total of 110,000 tons of iron ore produced by state iron ore producer Jalalabad were traded on Wednesday, according to IME.

Initially, the price was $14/dry tons for 57% Fe ore but it eventually sold at $29/dmt ex-works delivery at Yazd, central Iran. Demand for Iranian iron ore had clearly risen, a trader said.

The price was lower than international prices because of the distance between the mine in central Iran and the ports in the south, plus the high cost of transportation, a local trader said.

On the off-exchange market, Iranian concentrated iron ore with 67% Fe content was trading at $55/ton, while hematite, with 62% Fe content, was trading at $31/ton FOB Bandar Abbas, southern Iran.

Iran’s iron ore output and export volume have slumped over the past two years because of the sharp drop in global prices, with 2015 production at 36 million tons, down from 56 million tons in 2013, and exports falling to 14.1 million tons from 23.6 million tons over the same period.

However, the Iron Ore Producers’ and Exporters’ Association of Iran said the trend of falling exports has halted and some 15 million tons of iron ore are estimated to be exported this year.

The Iranian government’s policy is to cap iron ore exports and replace them with more valuable products, such as pellet and steel, but this would be difficult for small private miners.

Exports have risen as a result of better prices in China and some idle mines have restarted production.

“We hope this will last for some time,” a private miner told Platts.

Alireza Siasi-Rad, the head of IROPEX, said all producers of the industrial material were recently mandated to prioritize meeting the domestic demand by offering their products at IME.

According to the official, exports can only take place if the offerings exceed IME demand for more than three consecutive trading sessions.

The government had previously called for a total ban on export of iron ore, gold and copper in their raw form, according to remarks made in July by Mehdi Karbasian, the head of Iranian Mines and Mining Industries Development and Renovation Organization–the country’s largest state-owned mining holding.

Karbasian, who is also deputy minister of industries, mining and trade, held the view that the country’s iron ore output must be exclusively used for feeding domestic furnaces.

Source:Financial Tribune

  • Latest News
  • Most Popular



Hot events

  • Iran Alloy Steel Company; the Pioneer of Production

    Iran Alloy Steel Company is the first producer of alloy steel in Iran. This company posse one of the most equipped and modern plants in alloy steel production business and is capable of exporting its products to many developed countries such as Europe. Mohammad Ebrahim Ghadirian, CEO of the company…
  • Foulad Nab Tabriz; Pioneer of Iran’s Steel Industry

    Foulad Nab Tabriz Company as a pioneer of the steel industry in the private sector was established in 2003 by Iranian-Turkish joint venture in the city of Tabriz in order to benefit from economic and industrial potentials of both countries. Preparation and foundation operations started in the beginning of 2004…
  • Automobile with Iranian Galvanized Roll

    Galvanized roll has a lot of usage in different industries due to unique properties and also high resistance against corrosion. One of the largest consumers of this roll is automotive industry. In this regard, a factory for production of galvanized roll for coachbuilding has been built in Sefid Dasht region,…
  • Iran Alumina Company Plan for 40 Years Activity

    Iran Alumina Company as the first producer of three strategic products "metal grade alumina", "aluminum hydroxide" and "alpha alumina" in the Middle East is active in Jajarm region in North Khorasan province activities and with the goal to complete the value chain in the region, have implemented the plan for…
  • Foulad Nab Tabriz, a Pattern for Iranian-Turkish Joint Investments

    Foulad Nab Tabtiz has been establish by Iranian and Turkish partners and has an excellent track record in supplying Iranian domestic market demand for steel profiles in its ten years of successful production. Çetin Kaya the head of iron and steel division of NAB Holding, the Turkish partner, believes that…

Featured photos and videos

Metalsnews: Tehran Stock Exchange’s main index
Metalsnews: Tehran will be hosting the first
Metalsnews: Close to one-third of Tehran Stock
Metalsnews: Tehran Stock Exchange’s main index
Metalsnews: For the fifth time, Iran
Metalsnews: When Iran signed its landmark deal
Metalsnews: About 2,100 tons of zinc ingots
Metalsnews: Tehran Stock Exchange’s main index
Template Settings


For each color, the params below will give default values
Black Blue Brow Green Cyan


Background Color
Text Color
Layout Style
Select menu
Google Font
Body Font-size
Body Font-family