Iran: Steel Export by Major Mills Fall 25% Y-o-Y

As per the data released by IMIDRO, major Iranian steelmakers exported around 5.54 MnT of steel during last Iranian year (21 Mar 18-20 Mar’19). Export decreased by around 25% Y-o-Y. Standalone during the twelfth month export was noted to be around 457,585 MT, registered a downfall of 44% Y-o-Y.

Iran's steel exports have come under immense pressure after the imposition of US sanctions last year. Under the circumstances, Iranian steel exporters have had to cut offers significantly to attract overseas customers and compensate for the risks involved in trade with the country.

Khouzestan Steel Company (KSC) was by the largest exporter during the period, the company exported around 2.18 MnT steel during last year, down by 21% Y-o-Y. About half of KSC's exports go to the Middle East and North Africa region. Its other major export destinations are located in the Far East and Americas.