Iran, one of the largest finished long steel exporter in MENA region has exported 1.12 MnT finished long steel during the 10 months of CY’17. Exports during the period was up by 100% Y-o-Y against 0.56 MnT exported during the same period of CY’17.
Iraq was the largest importer of Iranian finished long steel, the nation imported 0.53 MnT during CY’18. Afghanistan was the second largest importer of finished long steel, the nation imported 0.35 MnT steel from Iran. Other major importers includes Turkmenistan (0.03 MnT), Qatar (0.03 MnT) and Pakistan (0.02 MnT).
Sub Commodity Wise Export
Rebar was the largest sub commodity exported by Iran during the CY’18, the nation exported 0.82 MnT rebar during the 10 months. Rebar export increased by around 100% Y-o-Y in CY’18. Structure steel was the second largest commodity exported by Iran, the nation exported 0.29 MnT structure steel during the period. Iran also exported sizeable quantity of wire rod in CY’18, the nation exported 0.01 MnT wire rod during the period.
Esfahan Steel Company (ESCO) was the largest finished long exporter in Iran. ESCO exported 606,414 MT of steel during the seven months of current Persian year (21 Mar-22 Oct’18). Exports were down by 11% Y-o-Y.
Major product exported by ESCO were Ingot (147,996 MT), rebar (108,196 MT), followed by beam (74,112 MT).
Iran Domestic Rebar Offers
As per SteelMint’s assessment, last week domestic rebar offers is Iran was noted to be around IRR 40,880/KG (973/MT) to IRR 42,300/KG (USD 1,007/MT). Domestic rebar offers in Iran has witnessed a downfall, IR Steel quoted “Main reason behind downward trend in Iran was the decline of ex-rate in free market to lower that Rials 110,000 /1 USD. This trend affected long products demand negatively too. Lower long products prices will decline billet demand too. In retail market competition between producers was strong and this made downward trend stronger which is expected to continue in coming days.”
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