Iran’s market regulation working group has approved the extension of export licenses for long steel products for another two months (till 1 Dec’21), as per the latest information available on Chilan Online.
It may be recalled, on 24 Aug’21 SteelMint reported, the Mining Industries Office of the government of Iran had removed the names of 84 companies from the list of authorised exporters of long steel products. However, later, it softened its stand, lifting the restrictions. Further, the government had extended the export licenses for one more month – till Oct’21.
The Mining Industries Office made the export license of long steel sections conditional on the supply of 70% of the companies’ products on the commodity exchange. The companies which failed to meet this 70% supply ceiling in the first four months of this year were excluded from the list of exporters.
Iran’s export volumes of billets and blooms in the first five months of the current Persian Year (Mar-Aug’21) stood at 2.50 million tonnes (mn t), an increase of 16% compared to the corresponding period last year (CPLY).
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