Iranian iron ore exports jump 45%

Hellenic Shipping News– In spite of the Iranian government’s policy to halt exports of raw materials, customs statistics show a sharp increase in iron ore exports in the first nine months of the Iranian year (to December 20).

Statistics show Iranian miners exported 13.08 million tons of iron ore in the period, a 45% year-on-year increase.

Iranian miners believe the trend will grow, at least until March. According to a timetable published by the Iranian Ministry of Industries, Mining and Trade, a 5% export duty will be imposed on iron ore export after its approval by the government and this duty will be increased gradually to 10% from March 2017 and 15% of the cargo FOB value from March 21, 2018, the mining source told S&P Global Platts.

As a result of disagreements among private sector miners, this timetable has not been notified yet while exporters are making efforts to ship as much iron ore as possible before the start of the next Iranian year in March.