Iran’s Iron Ore export had a +43% surge in the first five months of this year. Only in the period of 23 July-23 Aug 2019, a volume of 1.798 million MT of Iron Ore has been exported which is a +96% surge. The export iron ore product is being shifted from concentrate to pellet such that in the above-mentioned period +42% of the export volume has been pelleted.
#commodities export drivers include a considerable price gap between export rates and local prices, the government’s limiting export to balance supply and demand in the local market to control steel price. It has been reported some of the pelletizing plants and manufacturers of Direct Reduced Iron (DRI) are operating limited due to feed lack which is a great challenge for the country’s steel supply chain.