SunSirs: Iran plans to ban iron ore exports or impose export tariffs
March 10 2020 13:23:52 SunSirs (Molly)
According to foreign media reports, Iran's Minister of Industry, Mining and Trade Dariush Esmaeili stated that Iran plans to ban iron ore exports or impose levies on iron ore exports in the next Iranian year (March 20, 2020-March 19, 2021) High tariffs.
The official said that relevant departments are pushing forward the plan to control Iranian iron ore exports next year. Iran's target annual steel output is 55 million tons, and iron ore demand is 160 million tons.
Since September 23, 2019, Iran has imposed a 20-25% tariff on raw iron ore exports.
Former Deputy Minister of Industry Jafar Sarqeini said the decision was intended to support domestic steel production, prevent the export of unprocessed iron ore and create more added value.
Restricting iron ore exports is an important part of the new restrictions. Experts warn that Iran will face a shortage of iron ore in the near future and will not be able to meet the domestic steel industry's production needs. At present, Iran's export tariffs on iron powder and pellets are 25%.
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