Iran may stop exporting iron ore in 2019

Iran iron ore producers and exporters’ association (IROPEX) executives say, because of the low ore price and increase domestic consumption, Iran may be completely stop exporting iron ore by 2019. Iran this year is expected to drop to 1500-1500 tons of iron ore exports, further down to 10 million to 2017 tons, while exports of 23.6 million tons in 2013.

Iran’s plans by 2025 steel production increase more than 2 times, from 16.3 million tonnes to 55 million tonnes last year, every year to achieve this goal need 159 million tons of iron ore, and output last year only 45 million tons. At present, Iran is seeking overseas investment to help improve the iron ore production, its domestic ore reserves of 2.5 billion tons, is almost three times as much as in South Africa.

Iran’s state-run mining and metals company, ‘said the government’s goal is to domestic production of ore supply to local steel mills, rather than exports. Pellets production will be rapid growth, the current Iranian pellet production capacity of 22.1 million tons, by March 2017 is expected to 40.2 million tons, the current demand is part of the pellets to meet by imports from India.

Chinese customs data show that this year in August 1 – Iran for China’s iron ore exports plunged nearly 50%, only 8 million tons.