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Iran to Imposes 25% Tariff on Export of Raw Ore

Steel News - Published on Tue, 10 Sep 2019

Image Source: presstv.com
Press TV reported that Iran is imposing a heavy tariff on exports of raw ore to prevent mass shipment of low-price pellets and concentrates that could harm a thriving steel industry in the country. A deputy to Iran’s minister of industries said that exports of all raw minerals will be slapped with a 25% tax as of 23 September, 2019. Mr Ja’far 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. He added that “This decision is to be implemented with the aim of preventing sale of raw minerals and creating more added value inside the country."

Iran has carried out massive investment in the steel industry over the past years. 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.

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Posted By : Rabi Wangkhem on Tue, 10 Sep 2019
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