Iran: Iron Ore Exports Up 45% in May'19 Amid Increased Chinese Buying
According to the data maintained by SteelMint, Iran's iron ore exports via bulk shipments in second month of current Persian year (May'19) was recorded at 1.91 MnT, up 45% as against 1.31 MnT a month ago. The exports in May'19 have hit highest since Apr'18.
On yearly basis, the exports have depicted 67% rise as compared to May'18 exports at 1.14 MnT.
Iran pellet exports dropped in May'19
Iran's pellet exports for the month of May'19 recorded at 0.04 MnT, down 78% as compared to 0.18 MnT in Apr'19.
As per the data maintained with SteelMint, India for the first time booked pellet vessel from Iran in Apr'19.
Iranian iron ore exports to China up 43% M-o-M
China stood the largest importer of Iranian iron ore in May'19 at 1.88 MnT, up 43% on monthly basis as against 1.31 MnT a month ago. Iranian exports to South Korea witnessed at 0.03 MnT as compared to nil a month ago. Iranian exports of iron ore to India marked nil for sixth consecutive month in May'19 as it was last witnessed in Nov'18 at 0.05 MnT.
Iran turns to be world's 10th largest steel producer
Iran's total crude steel production for Jan-Apr'19 stood at 8.38 MnT up by 6% against same period previous year – as per World Steel Association (WSA). The Apr'19 production witnessed rise of 2.8% Y-o-Y to 2.16 MnT according to the Brussels-based international trade body for the iron and steel industry.
Iran aims to become 6th largest steel producer globally. The country plans to increase its crude steel capacity from about 30 MnT to about 55 MnT p.a. and exports to 20-25 MnT by 2025.
As per Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), iron ore concentrate production in its recently released production figure for the month of Apr'19 witnessed at 4.01 MnT, down 1% against Apr'18.
source: SteelMint
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