Page 50 - IRANRptDec20

basis.
"Fortunately, statistical and initial assessments in the rental market are showing that this market is moving towards a calmer situation," he said
9.1.11 ​Metallurgy & mining sector news
Export duty puts brake on Iran’s shipments of steel ingots
Iran exports 60,000 tonnes of aluminium in first seven Persian month
Iran sees surge in aluminium ingot production
A 25% export duty appears to be hindering and reducing Iran’s shipments of steel ingots.
Such exports fell 16% y/y to 3.19mn tonnes during the first seven months of the current Iranian calendar year (March 20-October 21), according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
Iran introduced a duty on exports of raw minerals, most particularly iron ore, in September last year. The stated aim was to decrease the export of unprocessed minerals in order to help create more value-added and meet requirements of domestic producers needing the raw materials. Ten years ago, Iran exported more than 20mn tonnes of unprocessed iron ore. That figure declined to six million tonnes last year.
IMIDRO said Iran’s annual steel ingot production will increase to 3.2mn tonnes by the end of the current Iranian calendar year according to its latest forecasting (ends March 20, 2021).
Iran exported over 60,000 tonnes of aluminium in the first seven months of the 2020/2021 Persian calendar year (March 20 to October 21), Mehr News Agency reported on December 1.
Exports increased partly given the weak standing of the Iranian rial (IRR), severely depleted by the impact of US sanctions. Regional countries have snapped up cheaper shipments for construction and other purposes.
During the seven-month period, the export value of Iranian aluminium amounted to $101.1mn, Islamic Republic of Iran Customs Administration (IRICA) said. Aluminium exports increased by 84% and 56% in tonnage and value, respectively, on a year on year basis.
Overall mineral exports from Iran during the period under review reached 21.17mn tonnes with a value of around $3.49bn, equivalent to 16.7% of Iran’s total non-oil exports.
Aluminium ingot production in Iran grew 69% y/y in the first seven months of the current Persian year (March 20 to October 22), Mehr News Agency has reported, citing industry, mining and trade ministry data. Some 247,335 tonnes of aluminium ingots were produced, with the Iranian month of Mehr (September 21 to October 22) seeing production of 35,556 tonnes, a 56% y/y gain.
Industry, mining and trade Ministry figures also showed that in the prior Iranian year producers smelted 275,716 tonnes of aluminium ingot, off by 8% from the preceding year. Iranian Aluminum Company (IRALCO) led the way in output. An official ​said​ earlier this year that the country’s overall production of aluminium would double upon the commissioning of a new aluminium plant under construction in Fars province. He noted that the value of the industry’s production was around $22bn, adding that Iran was generally self-sufficient for minerals, allowing it to be a significant exporter.
Iran forecasts it will reach annual aluminium ingot production of 1.5mn tonnes/yr by 2025.
50​ IRAN Country Report December 2020 www.intellinews.com