Iran: Iron Ore Exports to India Jump Three Fold in Oct'18
According to the data maintained by SteelMint, Iran has exported 1.67 MnT iron ore via bulk shipments in the seventh month of Iranian year (during 23rd Sep- 22nd Oct'18).
The exports witnessed significant rise of 74% on monthly basis in Oct'18 as against Sep'18 exports at 0.96 MnT.
On yearly basis, the exports have witnessed 6% drop as compared to Oct'17 exports at 1.78 MnT.
For the duration Apr-Oct'18, the exports witnessed at 7.98 MnT, down sharply by 33% against 11.93 MnT during same duration last year (Apr-Oct'17).
India imports from Iran up more than three folds M-o-M
As per data, India imported 0.16 MT iron ore from Iran in Oct'18 at Mangalore port, up more than two folds as against 0.05 MnT a month ago.
China continued to be the largest importer of Iranian iron ore for Oct'18 at 1.49 MnT, contributing 89% of total Iranian export share. The export to China witnessed 73% increase on monthly basis as against being 0.86 MnT a month before.
Iranian exports to Indonesia marked at 0.02 MnT in Oct’18 as against being nil a month before.
Iran crude steel capacity up 20% in Jan-Sep’18
According to IMIRDO, Iran’s crude steel output for the duration Jan-Sep’18 witnessed at 18.52 MnT, up 20% as against being 15.43 MnT last year same duration.
Iran crude steel production for the month of Sep'18 recorded at 2 MnT, as against 1.98 MnT in Aug’18. On yearly basis, the output recorded increase of 4% as compared to Sep'17 output at 1.92 MnT.
According to Ardeshir Saad Muhammadi, Deputy Director IMIDRO Mining and Mining Industries Development, Iran's crude steel capacity is likely to be expanded to 38 MnT p.a. by end of this year, it currently stands at 32 MnT p.a. Furthermore Iran plans to increase its crude steel capacity to 55 MnT p.a by 2025. Rising crude steel capacities will further escalate iron ore demand in country.
source: SteelMint
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