The Iranian Deputy Minister of Mines & Materials, in a letter to the ministry, announced today the imposition of export tariffs on various products, including steel, sources confirmed.
In the case of steel billets, the export duty will be to the extent of 17% of the total product price. This move has been initiated to discourage exports, it is believed.
Clarity on the percentage to be imposed on various products is still awaited, shared a source from an Iranian mill.
“This may not have a significant impact on steel exports from Iran. However, mills will have to focus more on domestic sales now”, highlighted another source.
Iran’s finished steel exports in the first 11 months of the current Persian Year (Mar’21-Feb’22) stood at 3 mnt, registering a significant 14% rise compared to the same period last year, according to data from the Iranian Steel Producers Association (ISPA).
Exports of long and flat products were recorded at 2.48 mnt and 0.52 mnt respectively during the period. Exports of long steel increased by 24% while flat steel exports fell by 17% y-o-y.
Exports of billets and blooms in the first 11 months totalled 4.63 mnt, up by 10% y-o-y. Key destinations of Iranian billet exports have been Gulf Co-operation Council (GCC) nations, South East Asia and China.
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