Iran exports 3.246M tons of iron ore concentrate in H1
Date
10/21/2024 6:16:27 AM
(MENAFN) According to data released by the Iranian Steel Producers Association (ISPA), Iran exported 3.246 million tons of iron ore concentrate valued at USD241 million during the first six months of the current Iranian calendar year (March 20-September 21). This marks a decline in exports compared to the same period last year, when the country exported 3.346 million tons of iron ore concentrate worth USD298 million. The latest figures indicate a 19 percent decrease in export value and a 4 percent reduction in weight year on year.
Iron ore concentrate is a processed product derived from iron ores that have undergone milling processes such as crushing, grinding, magnetic separation, and flotation. These processes are designed to remove deleterious elements and produce a high-quality product suitable for various industrial applications. Iron ore concentrates are primarily used in sintering and blast furnace production, as well as for producing pellets, which are essential in steel manufacturing.
The reduction in both the volume and value of iron ore concentrate exports reflects ongoing challenges in the global market and could be attributed to factors such as fluctuating demand and pricing pressures. Despite these setbacks, Iran remains a significant player in the iron ore concentrate market, with its exports contributing to the overall performance of the steel industry. The country continues to focus on enhancing its production capabilities and expanding its market reach in response to evolving global demands.
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