Iran: Finished steel exports fall over 30%, y-o-y, in Apr'22

Iran's finished steel exports in April 2022, the first month of the current Persian year, stood at 0.18 million tonnes (mnt), registering a significant 31% fall compared to the same month last year, according to data from the Iranian Steel Producers Association (ISPA).

• Exports of long and flat products were recorded at 0.15 mnt and 0.03 mnt respectively in April, a y-o-y fall of 34% and 4%, respectively.
  
  
• Exports of billets and blooms totalled 0.58 mnt, up sharply by 73% y-o-y.
  
  
• Slab export volumes were recorded at 0.05 mnt, a sharp rise of 77% compared with the same month last year.
  
  

Govt lowers export tariffs on billets, slabs

Iran's Director-General of the Mineral Industries has reduced export tariffs on steel billets and slabs by 2% and 5% respectively against the previously-announced 11% and 17%. Meanwhile, export tariffs on flat and long products have been completely removed.

Outlook

Iran steel exports are expected to remain supported backed by the recent reduction in export tariffs. However, with the problem of power supply re-emerging in Iran, the country's steel production is likely to remain restricted in the near future, affecting billet export allocations.

*Correction in slab export volumes