The Iranian government decided to cut iron ore fines export taxes, local miners had conducted lengthy negotiations with government.Currently Iran’s export tax of iron ore fines is 15%.

According to the Iranian Industry, Mines and Trade Ministry data, the country's annual production of iron powder is 31 million tons, usually 23 million tons for domestic consumption and the rest for export.

As the international iron ore market downturn, some mines of Iran have cut or discontinued the production. Despite the higher cost of production, it’s hard for Iran mines to competite with mines of Austrilia, Brazil, but export tax cut also take opportunities.

                                                               XINSTEEL NEWS