Iran Steel Exports Rise 38.3% Y-o-Y

Iran's steel exports were recorded at 8.8 MnT during the first 10 months of the current Iranian year (21 Mar'19, 20 Jan'20) to register a Y-o-Y rise of 38.27%, Iranian Steel Producers Association's latest report shows.

-- With 5.82 MnT, semi-finished steel had the major share of 66.11% in total steel exports with, up 47% Y-o-Y. Billet and bloom exports were recorded at 4.09 MnT while that of slab was at 1.72 MnT to register a Y-o-Y rise of 63% and 18% respectively.

-- Meanwhile, finished steel exports hit 2.98 MnT mark to book a Y-o-Y growth of 25%

Long steel products had the major share in finished steel exports with 2.27 MnT, up 36% Y-o-Y. While, flat steel production reached 713,000 MT by posting a 2%Y-o-Y decline.

Exports of direct-reduced iron increased by 76% Y-o-Y to reach 886,000 MT.

Steel imports to Iran decline - At the same time country's steel imports witnessed a considerable decline. The ISPA report shows, semi-finished and finished steel imports were recorded at 399,000 MT during the 10 months to Jan'20, to register a Y-o-Y decline of 56.06%.

Import of semi-finished products amounted to 3,000 MT during the period under review, down 89% Y-o-Y. Finished steel imports also witnessed a Y-o-Y drop of 55% to reach 396,000 MT during the period under consideration.

The imports largely included flat steel products with 347,000 MT, down 55% Y-o-Y. Meanwhile, imports of long steel products stood at 49,000 MT, indicating a Y-o-Y decline of 58%. Rebar was most imported commodity in this category with 29,000 MT, down 19% Y-o-Y.

~Inputs from Financial Tribune