Iran’s steel, mineral exports to China top $1.2bn in 9 months
Iran’s steel, mineral exports to China top $1.2bn in 9 months
Gold historically has (rarely) been broadly categorized as “overbought” vis-à-vis currency debasement, our arguing such case in price “having gotten ahead of itself” back in 2010-2011 as graphically depicted in the above millennium-to-date panel.

TEHRAN (Iran News) – Iran’s exports of steel and other metals, as well as mineral products to China, exceeded 1.22 billion during the nine months of the current Iranian year (March 21, 2020 – December 21, 2020).

According to the data released by the Islamic Republic of Iran Customs Administration (|IRICA), the value of Iran’s cast iron, iron and steel exports to China during the nine-month period reached $773 million.

The mentioned goods had a 15% share in the country’s total exports to China.

Data reviewed by the Tehran Chamber of Commerce, Industries, Mines and Agriculture show that the export of copper and its products during the nine calendar months reached $372 million, accounting for 7% of Iran’s total exports to China.

According to the Tehran Chamber, the exports of minerals, including salt, sulfur, soil and stone, gypsum, lime, and cement to China passed $79 million during the nine months to December 21, 2020.

Tehran-Beijing trade exchanges in the period passed $13.4 billion, indicating a decrease of 15% compared to the same period last year.

However, China remained Iran’s top trade partner during the period. Accordingly, Iran’s exports to China reached 20.6 million tons worth $6.4, while the imports from the East Asian country reached 2.6 million tons worth $7 billion.

Iran’s total non-oil foreign trade stood at 110 million tons worth $52 billion during the nine months ending Dec. 20.

Last year, the World Steel Association (WSA) has announced that Iran’s crude steel production increased by 30 percent in 2019 while the average global growth in this sector stood at 3.5 percent.

Based on the WSA report, Iran produced 31.9 million tons of the mentioned commodity during 2019 compared to the last year’s nearly 24 million tons.

  • source : MNA