Iran: Finished steel exports edge down 3% y-o-y in last Persian Year

Iran's finished steel exports in the last Persian year (21 March 2022- 20 March 2023) stood at 3.28 million tonnes (mnt), registering a 3% drop compared to the same period last year, according to data from Petrometals. Exports of long products were recorded at 2.81 mnt, a marginal 1% y-o-y decrease, while flat product exports fell by 17% y-o-y to 0.47 mnt.

Exports of semi-finished steel products totalled 7.37 mnt, down by 4% y-o-y. Direct reduced iron (DRI) export volumes were recorded at 0.86 mnt, a decrease of 18% compared to the same period last year.

Iran's steel billets export market has been witnessing limited trading currently due to bid-offer disparities in recently floated tenders and falling global scrap prices.

Outlook

Iran's steel billet export market is expected to see a downtrend in the near term amid a fall in global steel prices and buyers' expectations of more price cuts and resistance to buy at current offers.