TEHRAN, Iran, Dec.19
Trend:
Export of steel products of Isfahan Mobarakeh Steel Company has declined by 32 percent in the current Iranian year(started March 20,2020), said the public relations department of Mobarakeh Steel Company, Trend reports via Fars News Agency.
"Isfahan Mobarakeh Steel Company has been sanctioned several times that lead to difficult situation in exports and evading sanctions was a big and difficult task that was done and exporting steel brought foreign currency revenues for the country," said the company.
"The export volume of Mobarakeh Steel Company in the current Iranian year had a 32-percent decline that was mostly due to policy of the Ministry of Industry, Mine and Trade, which demanded steel producers to sell more products domestically," said the company.
Mobarakeh Steel Company has provided 270,000 tons of hot rolled steel to the domestic market last Iranian year (started March 21,2019) and increased it to 330,000 tons in February and March.
The company annually requires €900 million that is supplied by its export and the decline would create problems in the long term.
The production volume of Isfahan Mobarakeh Steel Company has declined last Iranian year (started March 21,2019) due to two months gas cut that led to $590 million loss for the industry.
Experts believe shortage of basic materials has caused the decline of production in all steel producing companies in the country, however they are trying to supply their needs domestically at some extent.