As per the data released by IMIDRO, Major Iranian steelmakers exported around 4,365,570 MT of Steel during first nine months of current Persian year (21 Mar-22 Dec’18). Export decreased by around 15% Y-o-Y. Standalone during the ninth month export was noted to be around 254,018 MT, registered a downfall of 52% Y-o-Y.
According to market experts, Iran’s steel exports remained steady in the nine months from 21 Mar-21 Dec’18 despite the re-imposition of US sanctions in Aug’18 on metal trading. For the full year to March 2019, Iran’s steel exports might remain constant as compare to last year’s export of over 9 MnT, as links with existing steel trade partners, particularly in the Middle East, Russia, China and the EU, have largely remained in place.
As per the data released by ISPA, Iran has so far exported 6 MnT of steel since 21 Mar’18, similar to the previous year. At least half is semi-finished products such as billet and slab. Billet steel is being supplied to Oman for rerolling, other major buyers are Qatar, Iraq, the UAE and small amounts being sold into the EU, specially Germany, Spain and Italy.
Starting 6 Aug’18, the US imposed sanctions on trade to and from Iran in steel and aluminum products, gold and precious metals, graphite and coal, giving non-US persons 90 days to wind down their steel/metal trade activities with Iran or risk US enforcement action.
Steel projects Worth USD 500 Mn to Become Operational by Mar’19
According to Mr. Haddad Qaribpour, Iranian deputy industry, mining and trade minister Steel projects valued to USD 500 Mn will be operational in the country by the end of current Persian Year (20 Mar’19). He also put the country’s value of steel exports at USD 3 Bn since the year start.