IRAN May 17 2017 1:33 PM
TEHRAN (Scrap Register): Iron ore exports from Iran is now declining, as the volume during April was seen at 10.46 million tons, which is down by 6 percent when compared to the same period last year. The month on month data also declined by about 147 percent.
Iran has achieved a sharp growth during the last Iranian year ended on March 20. China is the main destination for Iranian Iron ore, as they export 94 percent of iron ore to China. But it is believed that growth is about to decline and will not attain the previous figures.
According to a trader "At current prices, the cost of road transportation is more than the exporting prices of some grades of iron ore and it is almost impossible for the country's northern mines to continue to export,".
For the duration of six months, Iranian government is not planning to impose import duty on Iron ore. Earlier in December 2016 the government had planned to impose a 10 percent export duty on iron ore from March 2017, now this has been delayed to September.