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First Iron Ore Offers in Iran Mercantile Exchange
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For the first time in the country, iron ore was offered and sold in the export section of Iran Mercantile Exchange, reported by IMIDRO’s PR.
In line with the Ministry of Industry, Mine and Trade, as well as IMIDRO’s macro policies, Iran Minerals Production & Supply Co. incepted offering and selling the exported iron ore products through Iran Mercantile Exchange, while previously the operation of selling the exported iron ore was undertaken through the public bids.
According to the plans, the first offer of the product was undertaken in the first day of September in the Exchange, while the supplies include 200 thousand tons of granular iron ore, with average grade of 60 percent, and with a base price of 110 dollars. Due to the buyers’ competition, the price rose to 113 and 114 dollars in a short term.
Likewise, IMPASCO will sell the surplus capacity of its exported granular iron ore, achieved from Mishdovan, Jalal Abad and Gol-e-Gohar No.2 and 4 mines through Iran Mercantile Exchange.
According to Akbar Norouzi, Managing Director of Iran Minerals Production & Supply Co. creating transparency in offering and selling iron ore, increasing more competition in the market and obtaining the maximum value added are the main reasons for the Company’s approach to sell the exported iron ore in Iran Mercantile Exchange.
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