Iranian steel companies sell goods under other names to avoid US sanctions
TEHRAN, Iran, Dec.28
Iranian companies have been established their branches under another names overseas, to be able to export their products under US sanctions, Former head of the Tehran Union of Iron, Steel and Metals Dealers Mohammad Azad told Trend.
“Exchange rate fluctuations caused increase in the rate of iron, and currently the basic price of iron is rated at about $1.1 per kilo, though the iron price at the Mercantile Exchange is a bit higher,” Azad said.
Pointing to the status of iron sales due to the stagnation of domestic construction, Azad says that sales are not only domestic, iron is also exported to neighboring countries.
“For example, Iraq has recently demanded 200,000 tons of rebar to be exported from the Mehran border,” he said. "Iran's rebar is one of the best in the region."
“Iranian rebar is exported to the Philippines, Turkey, Afghanistan and Thailand as well,” said Azad.