Iran's steel exports rise significantly in first 2 months of Persian year

Steel exports from major producers in Iran registered a sharp growth during the first two months of the current Iranian year (20 Mar-20 May'21), the latest data released by the Iranian Steel Producers Association shows.

A total of 1.44 million tonnes (mn t) of steel products (both semi-finished and finished) were exported during the period under consideration. Semi-finished steel exports stood at 967,000 tonnes (t), up by 134% y-o-y. and those of finished steel were at 477,000 t, up 93% y-o-y.

This sharp rise in exports is likely because China had annulled the 13% value-added tax (VAT) rebate on 146 steel products (including rebar) with effect from 01 May'21. This has benefitted other overseas countries (including Iran), allowing them to explore export opportunities in China.

Commodity-wise exports:

Company-wise steel exports: With 341,187 t of steel, Khouzestan Steel Company (KSC) remained the top Iranian exporter, registering an increase of 136% y-o-y.This was followed by ESCO at 213,800t. The third largest exporter was Kavir Steel.

~Inputs from Financial Tribune