Thailand :Major Market for Iranian Steel
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Iranian exports of semi-finished and finished steel totaled to 13.2 MnT in 2016-17 (April 2016 to March 2017). Thailand, currently the world's fourth largest importer of steel became Iran's major export destination for the tenure. The country (Iran) is gradually becoming a major exporter to the Southeast Asian market.
The exports to Thailand from Iran has increased by 75% Y-o-Y as the country export 0.04 MnT in April'16 to 0.07 MnT in April'17. As part of the 20-Year Vision Plan (2005-25), Iran is currently following an aggressive capacity expansion program and aims to reach an annual production capacity of 55 MnT of steel by the end of 2025.
According to customs data maintained with SteelMint, Thailand imported 8.47 MnT flat steel in CY16. The top 5 import sources of flat steel for Thailand in CY16 were - Japan, China, South Korea, Taiwan and Australia. Thailand imported 28,537 MT flat steel from Iran in CY16, out of total flat steel imported by Thailand in CY16, Japan accounted for 48% share followed by China at 19% and South Korea at 16%.
According to the traders in Thailand, "The country imported 0.5 MnT of semi finished steel products from Iran in last Iranian year (April 2016 to March 2017). Thailand imports have been up rising over the years with its major construction, transportation and construction projects underway."
Anti-Dumping Duties
As Iran is gaining new grounds on a rapid pace, this made the Thai market's local producers to take action against what they might deem as dumping strategies. Thailand has set definitive anti-dumping duties on the import of hot-rolled flat steel products in coil and sheet forms from Iran. They range from 6.88% to 38.23% for five years starting May 16 and will affect Brazil and Turkey as well, according to a notice published in the Royal Thai Gazette.
The definitive duties imposed contain minor changes compared to preliminary rates. Preliminary duties of 7.09-38.52%, had been imposed on Nov'16 for an initial four months before being extended for two months until 15 May'17.
Products from Iran's Mobarakeh Steel will be levied a 7.25%, down from 7.37%, while the duty for other Iranian mills has been reduced to 38.27%, from 38.52%.
