Iran Steel Exports Fall 12% Y-o-Y in First Four Months of Current Persian Year
Iran’s steel exports has witnessed a Y-o-Y decline of 12% during the first four months of the current fiscal year (March 21-July 22), the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported. Iranian major steel makers exported 2.24 MnT of steel in these four Iranian months.
The steel mills shipped 620,589 MT during the fourth Iranian month (June 22-July 22), which shows a 13% fall against same time frame last year.
According to SteelMint, US sanctions were the prime disruptor for this skid. The sanctions will anticipate the cut in Iranian steel exports which eventually will lead to slow down the Iranian steel output. The sanctions are targeting the country’s export revenues of industrial metals which contribute 10% of Iran’s export economy.
KSC exported 712,771 MT steel in four months- With a total of 712,771 tons of exports over the four months and 163,465 tons in the fourth month under review, Khouzestan Steel Company booked itself as the country’s biggest steel exporter title. Nonetheless, the mill experienced a year-on-year decline both during the four months and in the fourth month by 26% and 16% respectively.
Mobarakeh Steel Company is holding the second largest exporter title; the company exported 501,809 MT of products during these four months to register a Y-o-Y growth of 9%. During the fourth month, the company exported 159,042 MT and witnessed a Y-o-Y growth of 35%. From exports perspective, during the fourth month, the company was the highest grown company among all.
source: SteelMint
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