Keyvan Jafari Tehrani believes that the continuation of the ban on the export of hematite iron ore to China could pose serious risks to the sale of Iranian steel to this country.
A senior international analyst in the field of iron ore and steel on the situation of iron ore prices in the country, says: The increase in iron ore prices, both inside and outside, has nothing to do with the supply of iron ore from Iran; Because Iran has nothing to say in this regard. Our country was once the fourth largest exporter of iron ore to China, but now it is not among the top ten countries. The world’s largest exporters of iron ore are Australia, Brazil, South Africa and India, respectively, followed by other countries such as Malaysia, Kazakhstan, etc., which were gradually imported. We had an acceptable position in this category in 2013 with exports of 21 million tons, but we do not have a good position at the moment.
He continued: “The increase in the price of iron ore in the world market is due to the increase in demand for steel from China, and for this reason we see that China’s steel exports have decreased so that the country is more known as a consumer.”
*** High demand for iron ore in China
Jafari Tehrani added: “Despite the increase in production in the world market, the demand for iron ore in China is so high that we are witnessing a significant reduction in inventory in the country’s ports, so that one year after the failure of the second tailings dam in Brazil in late January What happened in 2019, the price of iron ore has reached its highest level.
The chief international analyst in the field of iron ore and steel, continued: “The concern in this field is that the world’s major iron ore supply giants, including Australia and Brazil, due to taking advantage of this situation, increase their supply so that late September or early October of this year, which is about a month to two months away, we will see a decrease in the price of this product.
Referring to the suspension of iron ore exports in 1999, he said: “While many estimate the suspension of Iranian iron ore exports due to export duties of 25 percent, but this suspension is mostly due to the non-issuance of export licenses; Because last year, despite the same amount of duties, we had less iron ore exports in the country than in the past, but now the government and the Ministry of Industry, Mines and Trade do not issue licenses for iron ore exports, which also includes magnetite iron ore. , Also iron ore hematite.
*** No domestic consumption of hematite iron ore
Jafari Tehrani stated: “Since hematite iron ore with a grade of less than 58% is not consumed domestically in the country and is not even used in Isfahan Steel, it is appropriate for the government to allow the export of this product to have at least a small share in the iron ore market.” Save China. Recently, only very limited shipments have been issued, including the central iron ore agglomerate of central Iran, which is a low-grade product whose story is completely different from iron ore and concentrate.
“Overall, we can say that we can maintain our position as a trading partner with China if the country’s domestic needs are met by steelmakers, and secondly, we can allow the export of high-grade hematite iron ore,” he said. Under 58%, be given.
“In the current economic climate, both the country and the mines need foreign exchange,” he said in response to a question about whether we could seize the opportunity to make more money, given the current state of global demand. We should not completely close the doors of the country to the world markets. The fact that we have to accept is that China was a good trading partner for our country at the time of the embargo, but now it is weakening our trade relations in all areas. If we want to raise this issue ourselves, not only in the field of iron ore, but also in the field of purchasing steel from Iran, we must wait for this country to reconsider.
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