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Iran steel exports declines by 12 percent

Business Materials 23 August 2019 14:56 (UTC +04:00)

Tehran, Iran, Aug.23

Trend:

The steel exports from Iran decreased by 12 percent during first four months of current Iranian year (started March 21, 2019), Trend reports with reference to Iran Customs Administration's statistics.

According to the report, 2.241 million tons of steel were exported by 10 major Iranian steel producing factories from March 21 to July 23, which is 12-percent drop compared to the same period of last Iranian year (started March 21, 2018).

Esfahan Steel, Mobarake Steel, Khuzestan, Hormuzgan, Khorasan, Bonab, Chadormlou, South Kaveh and Oxin steel factories exported 620,589 tons of steel in July, which is 13 percent lower compared to same period last year.

The steel producers and exporters believe the volume of steel supply at Iran's commodity exchange is the main factor for current decline in steel exports. The domestic surplus supply has also dropped by 20 percent comparing to FOB prices.

According to the Iranian Steel Producers Association's statistics for first three months of current Iranian year, a total of 1.4 million tons of raw steel were exported from the country, which is a decrease by 23 percent compared to the same period of last Iranian year.

In the reported period, 758,000 tons of steel products were exported from the country, which is a decline by 20 percent compared to the first three months of the last Iranian year.

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