Iranian iron ore exports set to test domestic steel demand

Dec 22, 2011 | 07:59 AM |

Iranain iron ore imports have increased significantly in recent years on the back of rising iron ore prices and rising demand from local producers. Iran exported more than 18 million tonnes of iron ore from March 2010 to March 2011, up from 10.5 million tonnes the previous year and over 12 million tonnes more than export levels in 2008/9 according to Iranian customs data. The comparatively low price levels of iron ore achieved in the local Iranian market has been secured an attractive margin for iron ore exporters. Iron ore production levels have grown much faster than local Iranian steel mills’ consumption levels in the past 10 years – a surplus which can justify higher Iranian....

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