Page 46 - IRANRptMay20

at Iranian rial (IRR) 127mn ($3,016 at the official exchange rate, $1,123 at the free market rate) at the end of the Persian calendar month of Mehr (ended October 22), marking 0.4% m/m and 47.7% y/y increases, ILNA has reported citing Central Bank of Iran (CBI) data.
The CBI surveys the property market via its online residential sales system which logs sales on the national level. The severe devaluation of the rial together with soaring inflation in the past year and a half since the US reintroduced heavy sanctions against Tehran has wrought some havoc with Iran’s property market.
Also according to the official data, the total amount of residential unit transactions in the Iranian capital of 15.2mn people in Mehr reached 3,400, up 22.0% m/m and down 63.7% y/y.
District 1, consisting of uptown neighbourhoods, had an average price of IRR269.6mn per sqm, while District 2, also uptown, had an average price of IRR219.9mn per sqm.
At the other end of the scale is District 18. It appears to now be the cheapest area in Tehran with an average per sqm value of IRR55.2mn. District 19 was a little more expensive at IRR61.75mn.
The most sales in the cited calendar month were seen in moderately priced District 5, which accounted for 15.1% of all sales. It was followed by Districts 2 and 4 with 9.1% and 7.9% shares of sales, respectively.
9.1.11 ​Metallurgy & mining sector news
The output of Iran’s aluminium producers was recorded at aggregate 275,716 tonnes in the 2019/2020 Persian calendar year (ended March 20), marking an 8% y/y decrease, according to the Iranian Mines and Mining Industries Development and Renovation Organization.
Flagship producer Iran Aluminum Company (IRALCO) accounted for 177,348 tonnes, registering growth of 4% y/y.
Second biggest producer was Hormozal Aluminum Company with 46,694 tonnes, a figure that represented a 40% y/y drop. Next were Almahdi Aluminum Company with 42,059 tonnes (20% y.y) and Iran Alumina Company with 9,615 tonnes (no annual comparison was provided).
Iran produced 18.5mn tonnes of steel ingot in the first 11 months of the 2019/2020 Persian year (year ends on March 19), marking growth of 4% y/y, Mehr news agency reported on March 14.
Bonab Steel Production Company reportedly registered 865% growth in producing billet ingot in the period while Esfahan’s Mobarakeh Steel Company and Hormozgan and Saba steel companies produced 8,389,280 tonnes of steel, approximately the same amount as was recorded in the first 11 months of the 2018/2019 Persian year.
Iran’s total steel production volume, including rebar, beam, hot and wide steel sheets, galvanized sheet and pipe hit 12,308,475 tonnes, up 7% y/y.
Iran is working to a strategy running to 2025 under which its steel production capacity would rise to 55mn tonnes. It stood at 35mn tonnes by March 20, 2019.
9.1.12 ​Renewable energy sector news
Russia’s Rosatom has announced the delivery of another shipment of nuclear fuel to Iran’s Bushehr nuclear plant on the Persian Gulf, the Russian embassy in Tehran reported on April 29.
46​ IRAN Country Report May 2020 www.intellinews.com