9,367.77 TRY BIST 100 BIST 100
34.53 USD USD USD
36.05 EUR EUR EUR
4.79 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.33 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Iran's mineral industry: Exponential export growth and evolving import landscape

The mining sector's contribution to Iran's imports reached 9.5% over eight months from April to November, with China standing out as a pivotal partner.

Iran's mineral industry: Exponential export growth and evolving import landscape

The mineral trade landscape in Iran reveals a substantial 8% increase in mineral exports, contrasting with a striking 35% surge in mineral imports during the same period. The mining sector's contribution to the country's imports has notably reached 9.5% over the past eight months (April-November).

While the exports of the mining sector nearly doubled their imports from April till November, a closer examination indicates that the growth in mineral imports has outpaced exports from the previous year. China as a important country, serving as both the primary export destination and the leading source of imports for the nation. Key trade partners for Iran in the mining sector include Türkiye, Iraq, and the UAE.

Reflecting on non-oil exports, the mining and mineral industries claimed a substantial 27% share from April to November in the eight-month export data of the Iranian year. The mining and mineral export figures, totaling 8 billion and 514 million dollars, demonstrated a 7% increase in value and a notable 35% increase in weight compared to the previous year.

Further scrutiny reveals that metallic mining industries constituted the bulk of mineral exports, accounting for 6 billion and 247 million dollars, while non-metallic mining and mining contributed 832 million dollars and 1 billion and 428 million dollars, respectively. Noteworthy shifts include a decline in the value of certain metal exports, such as sponge iron, zinc ingots, ferroalloys, and aluminum billet, alongside a significant 153% upswing in the export value of steel flat products.

Within non-metallic mineral industries, the sector witnessed a 13% increase in value, with construction glass experiencing a notable 20% decrease in export value. The mining sector, encompassing iron ore, copper concentrate, and other ores, exhibited an 82% growth in value and a substantial 99% increase in weight from April to November statistics of 2023.

China, Iraq, and Türkiye emerged as primary recipients of the country's mining and mineral exports, collectively accounting for a significant share. Specifically, China held a 29% share, Iraq 20%, Türkiye 11%, the UAE 7%, Oman 6%, Indonesia 5%, Pakistan 3%, and other countries made up 19%.


In contrast, mineral imports have been on the rise, with a comprehensive analysis of the eight-month statistics shedding light on the prominent sectors driving the increase.


Mineral imports from China included metal mining industries with a 9% share, while Türkiye had a 6% share. India contributed a 4% share of metal mining industries in its imports, and Russia had a 2% share. Additionally, imports from Oman showed a 15% share for mining and a 5% share for metal mining industries.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

US announces subsidy margin on imports of large diameter welded pipe from Türkiye

Saturday, November 23, 2024

Kocaer Çelik announced its vision for 2030

Saturday, November 23, 2024

Ayes Çelik decides to expand its Dilovası plant

Friday, November 22, 2024

Iran Steel Producers Association met with SteelRadar at METAFO 2024 Fair

Saturday, November 23, 2024

TOBB announced the number of closed and opened companies in October

Saturday, November 23, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now