Iran’s Steel Exports Surge 10% in 5 Months

The Iranian Steel Producers Association (ISPA) announced that the volume of iron and steel exports rose 17%, equal to 796,000 tons, reversing a decline seen in the first quarter.

It added that the exports of iron ore concentrate jumped 80 percent year-on-year, raising concerns among steelmakers over reduced domestic supply.

In contrast, exports of long steel products continued to fall sharply. Rebar, which accounted for over 85% of long product exports last year, dropped 31% over the five-month period.

Meanwhile, a stronger export strategy by Mobarakeh Steel Group companies, including the main plant and Chaharmahal and Bakhtiari Automotive Sheet, increased foreign currency revenues by $122 million from flat steel products. Their total exports reached $216 million in the same period.

Official figures reported by the ISPA indicated in August that intermediate steel production reached 10, 864,000 tons in the first 4 months of the current Persian calendar year (started on March 21), showing a 0.7% increase compared to the same period last year.

Intermediate steel production reached 10, 864,000 tons in the first four months of this year, which indicates a 0.7% increase in the country's steel production compared to the same period in the previous year.

With a production of 311,000 tons in the first four months of this year compared to the same period last year, figures show a 39.5% decrease in steel production, although rebar production shows a 2.7% increase compared to the same period last year with 3, 516,000 tons.

The total production of long steel sections in the first four months of this year was 4, 124,000 tons, which has recorded a 3% decrease compared to the same period last year.

Hot and cold rolled steel also reported a 6% decrease in production, each separately, compared to the first four months of last year.