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Europeans form majority of Iran’s steel importers

Business Materials 8 December 2016 13:10 (UTC +04:00)

Baku, Azerbaijan, Dec. 8

By Khalid Kazimov – Trend:

Europeans were among the main importers of Iran’s steel over the last fiscal year (ended March 20).

Iran in total exported 3.8 million tons of steel products to several countries in the Europe and the Middle East over the last year, ISNA news agency reported.

According to the report, flat-rolled steel formed almost half of the country’s steel exports in volume over the mentioned period.

The report added that Italy, Spain and Germany in Europe, along with UAE in the Middle East were the major importers of Iran’s flat-rolled steel.

In the meantime, the UAE, Oman and Jordan imported steel billets from Iran.

According to the latest statistics, the Islamic Republic exported 1.99 million tons of crude steel as well as 1.296 million tons of steel products over the first seven months of the current Iranian year which started March 20. The figures indicate 103 percent and 5 percent rise, respectively, year-on-year.

The country also imported 150 tons of crude steel (a 299-percent increase) and 1.807 million tons of steel products (a 18-percent fall) in the same period.

World crude steel production for the 66 countries reporting to the World Steel Association stood at 1.333 billion tons over the first 10 months of the current year with China producing 672.96 million tons of steel.

Iran was the world’s 14th biggest producer of steel in the 10-month period. The country also ranked first among the Middle East countries.

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