Iranian concentrate price increased 1$ on daily basis and 7.3% on weekly basis. Low grade products grow 13.7% comparing current week to previous week and Iranian hematite fines price declines 1.7% at the same period.
It is worth noting that Iran government is going to add 25% export duties on iron ore to cool down the export interest of iron ore producers and supply domestic requirements. Investigations show that export of iron ore from a major dock in Iran jumped 55% in five months (65% concentrate and 25% pellets). Threat of concentrate export is so serious that had reduced the pellet output 4% last month.
What encourages the suppliers to export iron ore is the huge difference between iron ore price in and out of the country.
