9th Iranian Steel Market Conference - Key Takeaways

The 9th Iranian Steel Market Conference was held on 29-30 Jan in Tehran, Iran. SteelMint attended the conference and the major issues that were discussed during the conference were as follows:

--Current Situation of Iranian Steel Industry - There were presentations on production, export and import data of Iron ore, Billet, DRI, HRC and Slab.

Iran, one of the largest DRI producer in world has produced 19,826,000 MT DRI during the first nine months of Persian year (21 Mar-21 Dec'18) as per the data released by ISPA.

Iran exported 2,298,000 MT billet and bloom during the first nine months of current Persian year (21-Mar till 21-Dec'18). As per the data released by ISPA, export of billet during the period decreased by 11% against 2,582,000 MT exported during the same period of last Persian year.

-- Impact of US Sanctions- US imposed economic sanctions on Iran in Aug'18, owing to which many countries suspended their trade with Iran.

--Billet export offers continue downtrend- Current billet export offer at Iran is USD 330-340/MT FOB Bandar Abbas.

--Current DRI offer is USD 180/MT FOB Bandar Abbas, recently Iran exported to Oman at USD 230/MT CFR Oman.