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Iran shares data on steel sheet rates

Business Materials 26 January 2021 10:20
Iran shares data on steel sheet rates

BAKU, Azerbaijan, Jan.26

Trend:

The price of hot steel sheets in Iran's domestic market is higher than the global price while there is a supply shortage.

The lack of balance in domestic supply and demands is estimated to be 50,000 tons and reduced import of steel sheets is the reason for supply shortage, Trend reports citing IRNA.

Iran has imported 1.3 million tons of cold-rolled steel sheet from 2016 to 2018 but the import in last Iranian year (started March 21, 2019) reduced to 159,800 tons and then peaked a little to 168,700 tons in past nine months in the current Iranian year (started March 20, 2020).

The import of hot steel sheet from 2016 to 2018 was 1.2 million tons that declined to 240,000 tons in the past nine months in the current Iranian year. The country has imported 141.2 million tons of coated steel sheets during this period.

The studies of domestic production and demands of industrial units indicate the production is not fully supplying the demands and high prices in mercantile exchange and free-market show shortage of steel sheet and the need to import.

Statistics from the Iranian Steel producers Association show that the apparent consumption of hot steel sheets during the past nine months in the current Iranian year was 6.4 million tons an increase of 10 percent compared to the same time in last Iranian year.

The apparent consumption of cold-rolled steel sheets during the past nine months in the current Iranian year was 2.1 million tons an increase of 11 percent compared to the same time in last Iranian year.

It has been predicted that Iran's total production in the current Iranian year would be 30 million tons while the predicted outlook for 2026 is 55 million tons.

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