Iran restricts pellet exports to stem domestic shortage
The Iranian Ministry of Industry, Mine and Trade has not issued any permits for iron ore pellet exports since the beginning of August because of a shortage in the domestic market.
No pellet cargoes are available for export and cargoes committed earlier are loading but delayed and shippers are facing demurrage costs, market participants said, reported argusmedia.com.
Some Iranian cargoes have already been contracted to be sold for October delivery, with buyers having made advance payments for them. But market expectations are for Tehran to continue restricting exports of concentrate in the coming months.
This follows a move in early June, when the ministry announced that in the interest of ensuring sufficient supplies for domestic mills, only mines, not traders, are permitted to export iron ore pellet and concentrate.
Mines were also directed to prioritize supplies to the domestic market and would only be granted export permits after fulfilling their domestic demand.
The ministry has stopped issuing permits to small mines that have lapsed on their royalty payments in the last few years.
Iran has an estimated 49 million tons of pellet output capacity this year and the government is concerned that the domestic market may face a shortage of concentrate, particularly when imports are not possible under US sanctions.
In the Iranian year ending March 20, Iran exported 17 million tons of iron ore, government data indicate.
source: Iran Daily
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
