Iran: Finished steel exports rise over 25% y-o-y in first 4 months of Persian year

Iran's finished steel exports in the first four months of the current Persian year (21 March-20 July, 2023) stood at 1.12 million tonnes (mnt), registering a significant 26% rise compared to the same period last year, according to data from Petrometals.

• Exports of long products were recorded at 967,000 tonnes (t), a y-o-y increase of 28%, while flat product exports rose 16% y-o-y to 158,000 t.
  
  
• Exports of semi-finished steel products totalled 2.76 mnt, a rise of 29% y-o-y.
  
  
• Meanwhile, direct reduced iron (DRI) exports surged 255% y-o-y to 589,000 t.
  
  

Outlook

Iran's steel exports may witness a drop amid recent imposition of export duties by the Iranian government. Also, ongoing electricity restrictions and hike in gas prices may weigh on export volumes, SteelMint noted.