U.S. President Donald Trump yesterday imposed new
sanctions on Iran, targeting revenue from its exports of industrial
metals. An executive order issued by Trump covers Iran's iron, steel,
aluminium, and copper sectors, the government's largest non-petroleum-related
sources of export revenue and 10% of its export economy, a White House
statement said.
As per reports, the Trump administration also took aim
at Iranian oil by effectively ordering countries worldwide to stop buying
Tehran's oil or face sanctions of their own.
How will it impact Iran's steel market ? SteelMint
in conversation with Iran based steel market sources learned tht the impact on
steel industry can be reduction in steel export volumes in the current Iranian
year, shared sources.
Iran steel exports in last Persian Year - Iran's
finished steel exports reached 2.98 MnT in the Persian Year'19 (ended March 20,
2019), up 84% compared with the corresponding period of 2018. According to the
Iranian Steel Producers Association's latest report, rebar has registered the
highest exports with 1.65 MnT, registering a Y-o-Y growth of 177% as compared
to previous Persian Year, while coated coils have registered the fastest Y-o-Y
growth of 182% during the Persian year.
Total exports of semi-finished and finished steel were
recorded at 7.88 MnT during last Iranian Year.
Iran has exported 15.31 MnT iron ore in Persian year
FY'18 and depicted fall of 26% Y-o-Y as against 20.64 MnT in previous Iranian
year. Out of this India imported 0.26 MnT iron ore in last Persian Year.
According to bulk vessel line up data maintained with
SteelMint, India's steel imports from Iran has increased in last 3
months. Since last week of Feb'19, India has imported 58,000 MT billets; 48,000
MT HBI; 95,000 MT HRC and 54,000 MT pellets.
Source: steel mint