November 01, 2019
Iran is imposing a heavy tariff on exports of raw ores to prevent mass shipment of low-price pellets and concentrates that could harm the steel industry in the country.
A deputy to Iran’s minister of industries said September 9 that exports of all raw minerals were being slapped with a 25-percent tax as of September 23.
Jafar Sarqini said the tariffs would cover various products of Iran’s iron mills, including iron ore and concentrates. He said the tax is aimed to protect the domestic steel industry, which uses raw ore in massive quantities.
Reports over recent months have shown that steel mills across Iran have been facing a reduced supply of raw ore mainly because of increasing exports of unprocessed products. Iran has carried out massive investment in the steel industry since even before the revolution.
The country is currently among the 10 leading steel producers in the world with around 35 million tons of annual output. The country exported over seven million tons of steel in the year ending in March 2019, according to government data.
