Major Iranian Mills Lowered Steel Exports by 15%

Iran steel export industry has witnessed a Y-o-Y decline of 15% in the steel exports in first two Iranian months (March 21-May 21) the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported. Iranian major steel makers exported 1.04 MnT of steel in these two Iranian months. The steel mills shipped 609,349 MT during the second Iranian month (April 21-May 21), which shows a 31% fall against same time frame last year.

According to SteelMint, US sanctions were the prime disruptor for this decline. The sanctions will anticipate the cut in Iranian steel exports which eventually will lead to slow down the Iranian steel output. The sanctions are targeting the country’s export revenues of industrial metals which contribute 10% of Iran’s export economy.

KSC exported 398,739 MT steel in two months- With a total of 398,739 MT of exports over the two months and 140,278 MT in the second month under review   Khouzestan Steel Company was reported to be the largest exporter.  Mobarakeh Steel Company is holding the second largest exporter The company exported 169,514 MT of products during the two months and witnessed a 30% decrease Y-o-Y

Steel exports in first two months of major Iranian mills

~Inputs from Financial Tribune

Source: steelmint