Iran: Finished steel exports rise y-o-y in first eleven months of current Persian year

Iran's finished steel exports in the first eleven months of the current Persian year (21 March-20 February, 2024) stood at 3.25 million tonnes (mnt), an increase of 12% compared to the same period of last year, according to the recent data from Iranian Steel Producers Association (ISPA).

• Exports of long products were recorded at 2.81 mnt, up by 9% y-o-y, while flat product exports rose by 5% y-o-y to 440,000 tonnes (t).
  
  
• Exports of semi-finished steel products totalled 7.10 mnt, an increase of 7% y-o-y.
  
  
• Meanwhile, direct reduced iron (DRI) exports surged by 81% y-o-y to 1.39 mnt.
  
  

Outlook

BigMint noted, billet exporters have shifted their interest on DRI due to subdued demand in the billet market. Meanwhile, Iranian government's recent announcement of export duty revision is expected to impact the export volumes.