Iran’s mineral exports worth $3.04bn stood at 21.17mn mt in the first seven months (Mar 20-Oct 21, 2020) of the Iranian calendar, down by 42pc from the prior-year period, according to the Iranian Mines and Mining Industries Development and Renovation Organization (Imidro).
The COVID-19 pandemic has affected trade across the globe including Iran which was already struggling with the US sanctions, as per media reports.
In the Mar-Oct period, the country exported 4.3mn mt of steel worth $1.59bn, while the country’s iron ore concentrate exports declined significantly by 91pc to 303,273mt from the prior-year period.
Iran also exported 541mt of alumina powder worth $1mn and 61,147mt of aluminum products worth $101.11mn, and 110,992mt of zinc products during the eight months.
Iran exported copper products worth $457.5mn between March and November.
Iran’s minerals imports in Mar-Oct stood at 2.28mn mt, up by 16pc from the prior-year period, while the total value for the same stood at worth $1.7bn, down by 3pc as compared the prior-year period.
The country imported 633,665mt of steel worth $714.6mn and 102,091mt of aluminum products worth $154.3mn during the seven-month period, while alumina powder imports stood at 162,557mt.
Lead imports worth $490,000 fell significantly by 97pc to 120mt from the preceding year period, while zinc product imports stood at $3.74mn in the Mar-Oct period.
Iran’s mineral reserves are expected to grow by 30pc to 60bn mt by end of the current fiscal (March 2021) due to the new exploration programs, as per media reports.