Iran: KSC Eyes to Resume Export to European Market

Khouzastan Steel Company (KSC), one of the largest steel exporter of Iran has exported 1,664,172 MT steel during the first nine months of current Persian year (21 Mar-22 Dec'18). The company lost many of its buyers owing to US sanctions which resulted to decrease in export by around 15% Y-o-Y. Standalone during the ninth month export was noted to be around 254,018 MT, registered a downfall of 52% Y-o-Y.

Recently, Mr. Mohammad Kashani, CEO of KSC said, "In next Persian year of 1398 (21 Mar'19-20 Mar'20), KSC will come up with an additional capacity of 2.5 MnT, which will increase the profitability of the company. The company is aiming to resume their exports to European nations."

He added, "The recent exchange rate decision has made it difficult for the steelmakers to import raw materials. In this regard, we call on the government to place the currency in the hands of steel companies in order to procure raw materials."

He concluded, "Unfortunately, due to sanctions, KSX lost the European and UAE markets and the company's products are now exported to Southeast Asia and India."

Major steel products exported by KSC during the nine months were Slab (615,144 MT), Bloom (645,267 MT) and Billet (403,761 MT).

Steel projects Worth USD 500 Mn to Become Operational by Mar'19: official

According to Mr. Haddad Qaribpour, Iranian deputy industry, mining and trade minister Steel projects valued to USD 500 Mn will be operational in the country by the end of current Persian Year (20 Mar'19). He also put the country's value of steel exports at USD 3 Bn since the year start.