Iran's duty-unpaid iron ore exports expected to increase
2017-01-18 19:11:37 [Print]
BEIJING (Asian Metal) 18 Jan 17 - According to foreign media sources, the Iranian Commodity Exchange (IME) will launch iron ore domestic transactions from February 2017, and if there is no buyer, the surplus iron ore will be exported.
IME first launched iron ore export trade in 2011. Iran exported about 2.1 million tonnes of iron ore through IME in the last fiscal year (as of March 20, 2016), while exported 1.6 million tons in the first nine months of the current fiscal year (up to December 20, 2016), and is expected to see increased exports in the future.
According to earlier reports, the Iranian government will impose export duty on iron ore. The export duty will be 10% in March 2017 and will be raised further by 15% in March 2018.
IME first launched iron ore export trade in 2011. Iran exported about 2.1 million tonnes of iron ore through IME in the last fiscal year (as of March 20, 2016), while exported 1.6 million tons in the first nine months of the current fiscal year (up to December 20, 2016), and is expected to see increased exports in the future.
According to earlier reports, the Iranian government will impose export duty on iron ore. The export duty will be 10% in March 2017 and will be raised further by 15% in March 2018.
