Sunday, December 17, 2017

$410 Million Surplus in Iran’s Mineral Trade With China


Iranian miners exported 12.44 million tons of mineral products worth $1.08 billion to China during the first seven months of the current fiscal year (March 21-Oct. 22), statistics released by Iranian Mines and Mining Industries Development Renovation Organization showed.  This is while imports stood at 775,271 tons valued at $669.56 million, bringing Iran’s mineral trade balance with China to positive territory. Iron ore was the main exported commodity in the seven-month period, standing at 10.47 million tons valued at $584.25 million.  “Iran is currently the seventh largest iron ore supplier to China—a three-step drop compared to its 2013 heyday,” a member of the board and the head of international affairs at Iranian Iron Ore Producers and Exporters Association, Keyvan Jafari Tehrani, said.  Tehrani said Iran’s share of Chinese iron ore imports stood at 2.3-2.5% in 2013 while it exported 23.5 million tons, over 90% of which went to China.