Iran's steel exports decreasing

Business Materials 8 January 2019 12:26 (UTC +04:00)

Tehran, Iran, Jan.8


The volume of Iran steel production and exports has increased during the current Iranian year (started on March21, 2018) however the limitations created as a result of the US sanctions, and foreign currency regulations have affected the exporters.

"There has been a 10-percent rise in the steel production, in the past 8 months, compared to last year. The production this year was 14.232 million tons, while 920,000 tons of the output was exported," member of Tehran Chamber of Commerce, Seyed Bahador Ahramian told Trend.

Speaking of the rise of Iran's exports, he said that during the past 8 months, the exports saw a 104-percent growth, compared to the same period the previous year.

Ahramian noted that the country's steel production in recent months has increased, however the volume of exports has been decreasing, because of imposed US sanctions and domestic issues, including government regulations.

Ahramian pointed to official daily changes the government issues on the matter, forcing exporters to submit their foreign revenues to Integrated System for Hard Currency Transactions (NIMA), which creates additional problems.

Meanwhile, Iran’s first national conference and exhibition of steel and related industries kicked off on Monday at Milad Tower in Tehran.

Renowned Iranian steel companies are presenting their latest achievements in the industry during this four-day event.

According to the organizers, the exhibition and conference aim to introduce Iranian steel industries capabilities, potential and provide a platform for the related industries to share their knowledge and experiences.

Speaking of foreign investments in Iran's steel industry, he said there are certain limits, but added that some of the foreign investors that have previously invested in the country's steel industry, are still in Iran.

Ahramian said private companies working in Iran's steel industry, have about 30-percent share in the country's total steel output.