{"id":1114,"date":"2016-04-02T11:18:33","date_gmt":"2016-04-02T11:18:33","guid":{"rendered":"http:\/\/kjtehrani.com\/en\/?p=1114"},"modified":"2017-06-20T11:22:11","modified_gmt":"2017-06-20T11:22:11","slug":"iran-ups-iron-ore-exports-as-prices-rise","status":"publish","type":"post","link":"https:\/\/kjtehrani.com\/en\/iran-ups-iron-ore-exports-as-prices-rise\/","title":{"rendered":"Iran Ups Iron Ore Exports as Prices Rise"},"content":{"rendered":"<div class=\"new-design\">\n<p class=\"title-sec entry-title\" style=\"text-align: justify;\"><span class=\"drop\">A<\/span> surprise spike in iron ore prices this year is shaking out fresh supplies of the steelmaking raw material, but some miners say it is too soon to aggressively restart production shuttered by a years-long price rout.<\/p>\n<\/div>\n<div class=\"body\">\n<p style=\"text-align: justify;\">Iran said it has increased shipments to top iron ore consumer China, while traders have also seen more cargoes from India and Malaysia as material kept idled in warehouses and ports is pushed out to buyers to take advantage of the price spurt, Reuters reported.<\/p>\n<p style=\"text-align: justify;\">Iron ore ended January-March with a 24$ gain after pushing above $50 a ton, far outpacing gold that had its best quarter in three decades.<\/p>\n<p style=\"text-align: justify;\">The steelmaking raw material is still the top performing commodity this year, despite falling 16% from last month\u2019s peak, but the wild swings have kept miners wary about the longevity of the price recovery.<\/p>\n<p style=\"text-align: justify;\">\u201cThe trade signals are not strong enough yet for a sustainable lift in demand,\u201d said UBS commodities analyst, Daniel Morgan.<\/p>\n<p style=\"text-align: justify;\">Still, in Iran, vessels loaded with iron ore bound for China have increased \u201cremarkably\u201d, Keyvan Jafari Tehrani, head of international affairs at the Iron Ore Producers and Exporters Association of Iran, told Reuters.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen the price of iron ore rose above $50 a ton, the number of shipments to China increased and if it stays above $55, more mines will resume production,\u201d said Tehrani.<\/p>\n<p style=\"text-align: justify;\">Iran is the sixth-biggest iron ore exporter to China, but shipments fell 40% last year to 13.2 million tons as prices tumbled. Around 70% of private iron ore mines in Iran shut in the past two years due to the market rout, Tehrani said.<\/p>\n<p style=\"text-align: justify;\">\u201cWe also heard some Malaysian cargoes being quoted in the market which we haven\u2019t seen in a while. If the price is right there\u2019s a market for them,\u201d said a Shanghai-based iron ore trader.<\/p>\n<p style=\"text-align: justify;\">The trader is keen on buying some cargoes from Indian suppliers who have become active in the market in recent weeks as prices climbed.<\/p>\n<p style=\"text-align: justify;\">India used to be a major iron ore exporter to China until court-imposed mining curbs in a crackdown on illegal extraction halted shipments. Mining in the western Goa state, India\u2019s top iron ore exporter, resumed in October after a three-year gap.<\/p>\n<p style=\"text-align: justify;\">But Goan miners say a 20-million-ton annual production cap will limit any benefit from strong prices. Shipments from Goa reached about 50 million tons in 2010-11, during iron ore\u2019s boom years when it reached nearly $200 a ton.<\/p>\n<p style=\"text-align: justify;\">The price rise is a boost for miners such as global giants Rio Tinto and BHP Billiton, where every one dollar a ton price hike over a year is worth roughly $250 million, according to UBS.<\/p>\n<p style=\"text-align: justify;\">But small miners say it is too early to restart idled output.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s not easy to turn mines on and off. If you\u2019ve demobilized staff and equipment, it\u2019s no easy feat to suddenly bring it all back, particularly in the absence of real proof these prices are sustainable,\u201d said an executive for a smaller-sized Australian iron ore company.<\/p>\n<p style=\"text-align: justify;\">Lower ore grade producers, such as Malaysia, are under more pressure and say the rally needs to go further.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen iron ore was at $80, low grade iron ore could fetch around $60. At current prices, it\u2019s still not viable for Malaysian iron ore,\u201d said a geologist at a Malaysian-based mining company.<\/p>\n<p style=\"text-align: justify;\">Source: <a href=\"https:\/\/financialtribune.com\/articles\/economy-business-and-markets\/38571\/iran-ups-iron-ore-exports-as-prices-rise\">Financialtribune <\/a><\/p>\n<p style=\"text-align: justify;\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A surprise spike in iron ore prices this year is shaking out fresh supplies of the steelmaking raw material, but some miners say it is too soon to aggressively restart production shuttered by a years-long price rout. Iran said it has increased shipments to top iron ore consumer China, while traders have also seen more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,21],"tags":[48,50,46,53,65,45,47],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Iran Ups Iron Ore Exports as Prices Rise - Keyvan Jafari Tehrani<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kjtehrani.com\/en\/iran-ups-iron-ore-exports-as-prices-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran Ups Iron Ore Exports as Prices Rise - Keyvan Jafari Tehrani\" \/>\n<meta property=\"og:description\" content=\"A surprise spike in iron ore prices this year is shaking out fresh supplies of the steelmaking raw material, but some miners say it is too soon to aggressively restart production shuttered by a years-long price rout. 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He has been exporting minerals and steel value chain products especially iron ore, concentrate, HBI, steel products to various markets, but mainly to China and ASEAN countries, for about 26 Years. He has 36 years solid experience in the field of mining production &amp; export of commodities. He was a Member of the Board &amp; Head of International Affairs of IROPEX (Iranian Iron Ore Producers &amp; Exporters Association) from 2012 up to 2017. Keyvan has a Bachelor degree in Electronic Engineering, Masters degree in Medical Engineering and MBA and Phd. in Radiology from Iranian Reputable Universities and numerous post-graduation courses in Mining, Steel &amp; Management Fields from Iranian &amp; Foreign Universities. Currently, he is a Professor &amp; Senior Analyst in International Economy and Commodities and has numerous articles published in Iranian &amp; International Websites, News Agencies &amp; Media. 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He has been exporting minerals and steel value chain products especially iron ore, concentrate, HBI, steel products to various markets, but mainly to China and ASEAN countries, for about 26 Years. He has 36 years solid experience in the field of mining production &amp; export of commodities. He was a Member of the Board &amp; Head of International Affairs of IROPEX (Iranian Iron Ore Producers &amp; Exporters Association) from 2012 up to 2017. Keyvan has a Bachelor degree in Electronic Engineering, Masters degree in Medical Engineering and MBA and Phd. in Radiology from Iranian Reputable Universities and numerous post-graduation courses in Mining, Steel &amp; Management Fields from Iranian &amp; Foreign Universities. Currently, he is a Professor &amp; Senior Analyst in International Economy and Commodities and has numerous articles published in Iranian &amp; International Websites, News Agencies &amp; Media. 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