Iran’s steel exports drop considerably

Baku, Azerbaijan, June 27

By Khalid Kazimov – Trend:

An Iranian official has confirmed that the country’s steel exports over the first two months of the current fiscal year (starting March 20) experienced a major slump.

Reza Shahrestani, an official with the association of steel producers, has said that domestic developments and recent presidential election in Iran as well as global plunge in steel prices are among the main reasons causing the dramatic drop in the country’s steel exports, IRNA news agency reported.

He added that the government is following up on plans to increase the exports of steel to eight million tons per year.

The latest official statistics indicate that 24 percent drop in Iran’s steel exports over the second month of the current fiscal year ending on May 21, the report added.

However, Jafar Sargheini, an Iranian deputy industry minister, had earlier said that the country exported about 1.3 million tons of steel over the first two months of the current fiscal year, indicating eight percent increase year on year.

While Iran exported 5.8 million tons of steel over the last fiscal year, the country plans to boost its steel exports to 15 million tons by 2025.

According to the World Steel Association Iran produced 1.79 million tons of crude steel in May 2017.

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