Iran’s steel exports fell by 40% y-o-y to 1.79 mn t steel during the first three months of the current Persian year (20 Mar- 20 Jun’20). The Iranian government may be discouraging exports to increase availability of steel in the domestic market, said market participants.
Semi-finished steel export volumes, the largest chunk of Iranian exports, also posted declines in the current Persian year.
But the Iranian Steel Producers Association (ISPA) is bullish about more than doubling exports on a y-o-y basis to 15 mn t in this Persian year. Last year, Iran exported 7.33mn t steel products.
Annual steel production has reached 30 mn t, out of which 15 mnt can be exported and bring $7 bn of revenue for the country, said Reza Shahrestani, board member of ISPA. “Iran is now among the world’s top ten steel producers and in order to prove our capabilities, we should have a strong presence in the international markets,” he added.
Iran is aiming production of 55 mntpa crude steel by 2025 and plans 16 projects to boost steel capacity by 17.3mtpa in five years.
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