New figures show that Iran has increased its exports of iron ore to China and iron products to India.According to Chinese customs data, Irans iron ore exports to China soared 35 percent to 13.4 million tons during the first seventh months of 2013, overtaking India to become the fourth top supplier of iron ore to the East Asian country, Reuters reported.
Over the past few years, the Islamic Republics iron ore exports have grown by over 60 percent to an annual rate of around 25 million tons, worth some USD 3 billion a year.
Meanwhile, data from the World Steel Association show that Iran has raised its production of direct-reduced iron (DRI), also known as sponge iron, by 50 percent so far this year.
Iran, the worlds second largest producer of sponge iron, is also boosting its exports of the iron product to India.
Prakash Tatia, the vice chairman of Indias Sponge Iron Manufacturers Association (SIMA), said that Irans exports of the iron product have reached 80,000 tons in April-July for the whole fiscal year that ended March 2013.
Tatia said that the figures were based on inputs from port sources and traders in India and overseas.
By Press TV
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