Baku, Azerbaijan, Oct. 31
By Elnur Baghishov - Trend:
The exports of metal and non-metal products have increased during the first six months of the current year (starting from March 21, 2018), the SHATA news agency quoted Seyfullah Amiri, Advisor to Deputy Chairman of the Board of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and General Director of Mining Industry Department as saying.
Putting the metal products up for sale at the commodity exchange is welcomed by the production companies, he added.
This has become possible mainly due to use of NIMA currency, he concluded.
He noted that the main export products have been iron ore, palletized products and concentrates.
“Currently, the activities in the country’s mining industry sector are referred to manufacture of the fundamental products. The graphite electrode product can be mentioned as an example of such products,” he said.
Amiri added that the graphite electrode product plays important role in manufacture of steel products.
Fortunately, there is no problem in the country regarding this product and the necessary forecasts have been fulfilled for most production sub-sectors, he said.
"In comparison with other products, the putting of metal products up for sale at commodity exchange enjoys more attention. The products put up for sale at commodity exchange, the initial price and the maximum price are defined by the Iranian Industry, Mine and Trade Ministry," he noted.
“Previously, the products were put up for sale at the price of 42,000 Iranian rials (which equals to 1 US dollar based on the official exchange rate). Most companies were not enthusiastic about this price and they faced losses and damages. But currently, due to use of currency within the NIMA system, the companies can easily put up their products for sale at commodity exchange,” Amiri said.
