Iran: Billet and bloom exports rise over 25%, y-o-y, in March-May

Iran's finished steel exports in the first two months of the current Persian year (March-May, 2022) stood at 0.36 million tonnes (mnt), registering a significant 25% fall compared to the same month last year, according to data from the Iranian Steel Producers Association (ISPA).

• Exports of long products were recorded at 0.30 mnt, a y-o-y decline of 31%, while flat product exports rose significantly by 37% y-o-y to 0.06 mnt.
  
  
• Exports of billet and bloom totalled 0.84 mnt, up 29% y-o-y.
  
  
• Slab export volumes were recorded at 0.23 mnt, a fall of 28% compared with the same month last year.
  
  

No impact of cyber attacks on steel production

In a recent update, Khuzestan Steel Company (KSC) and Mobarakeh Steel Company (MSC) announced that they had faced cyber attacks. However, the attacks have not had any impact on the production lines of the companies.

Govt eases power restrictions to support steel mills

Electricity restrictions in Iran came into effect on 6 June, 2022. As reported earlier by SteelMint, mills protested against the restrictions and called for immediate reform. With the approval of the Ministry of Energy, power restrictions have been eased in the country and steel mills will be supplied electricity from 11 pm to 8 am every day without any restriction.

Outlook

Amid power supply curbs, Iran's steel production is likely to remain limited in the near term, affecting billet export allocations. However, the easing in restrictions may become a deciding factor for the export market.