Construction steel prices extend the uptrend on the Shanghai Exchange

In the first seven months of the current calendar year, Iran's iron ore concentrate production reached 29,950 million tons, up 4% year-on-year.

Steel prices today increased beyond 4,400 yuan / ton

Steel price today delivered in May 2022 on the Shanghai Exchange increased by 87 yuan to 4,418 yuan/ton at the time of the survey at 9:00 (Vietnamese time).

Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy

According to the  Tehran Times, Iran's iron ore concentrate production reached 29,950 million tons in the first 7 months of the current calendar year (March 21, 2021 to October 22, 2021), an increase of 4% compared to the same period last year. .

In particular, iron ore concentrate production in the 7th month of this year increased by 5% compared to the same month last year, with 4,432 million tons of products produced on record.

In the calendar year 1399 (ending March 20, 2021), iron ore concentrate production in Iran reached 49,714 million tons, up 5% from 47,306 million tons in 1398.

Figures from Iran's Ministry of Industry, Mining and Commerce show that, in the last month of 1399 (February 19, 2021 - March 20, 2021), production was 3,533 million tons.

In the outlook plan for the calendar year 1404 (2025-2026), Iran was expected to produce 55 million tons of steel per year. To achieve this goal, the country needs to mine 160 million tons of iron ore.

In an effort to block the export of unprocessed minerals, help create more added value and meet the requirements of domestic producers for raw materials, Iran has imposed a 25% tax on exports. raw minerals (especially iron ore) since September 2019.

This mandate is intended to encourage the production of more processed minerals, such as tablets and concentrates, rather than selling raw minerals as is often the case.

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