Iranian steel making only 1% of European market
Tehran, Iran, April 5
By Mehdi Sepahvand - Trend:
Steel imported to Europe from Iran constitutes only one percent of the European market and recent accusations of attempted dumping are false, said Reza Shahrestani, member of the board of directors of Iran’s Steel Association.
The accusations were of promotional nature and serve to reduce pressure from steel producers and syndicates in the European Union, he told Mehr news agency April 5.
He underlined that it would be of little consequence for Europe if the EU increases tariffs on Iranian steel imports, considering the share that other countries such as India and China have in Europe’s steel market.
China exports over 100 million tons of steel per year, 6 million tons of which goes to Europe. Iran’s steel export to Europe hit the record of 1 million tons in 2016.
The European steel market demands 140 million tons a year. In 2016, China made the world’s biggest steel producer with an output of 808.37 million tons. Iran came 14th with 17.9 million tons output.