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Iran Steel exports increase 12 percent y/y

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TEHRAN (Scrap Register): During the initial five months of the current Iranian year, the major steelmakers of Iran has exported about 2.64 million tons of both semi-finished and finished steel products, which recorded a growth of about 12 percent when compared to the same period last year.

The biggest exporter of the country was Khouzestan Steel Company, which exported about 1.163 million tons of slab, bloom and billet overseas, which increased 72 percent year on year.

During the last fiscal, Steelmakers of Iran has exported about 3.74 million tons of semis and 1.79 million tons of steel products, an increase of about 108 percent and 16 percent respectively, when compared to last previous year, as per the Iranian Steel Producers Association.

Iran needs to annually export at least 15 million tons by then to keep such a massive production volume economically viable. Exports are expected to reach 8 million tons in the current fiscal year.

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