ArcelorMittal Plans to Boost Sales to Iran
Luxembourg-based multinational steel manufacturing corporation ArcelorMittal plans to increase steel products shipments from its Kazakhstan mill to Iran by around 56% by 2020, Metal Bulletin—a UK-based specialist international publisher and information provider for the global steel, non-ferrous and scrap metals markets–reported.
Hot rolled coil and cold rolled coil account for most of ArcelorMittal Temirtau’s sales to Iran.
ArcelorMittal Temirtau, which is the largest steel mill in Kazakhstan, aims to ship 1.15 million tons of steel products to Iran this year and to increase its annual shipments to 1.5-1.8 million tons by 2020.
The facility shipped 1 million tons of steel products to Iran between January and September this year, up by 25% compared with the same period in 2015.
Hot rolled coil and cold rolled coil account for most of ArcelorMittal Temirtau’s sales to Iran.
The strengthening of ArcelorMittal Temirtau’s cooperation with Iran was discussed during a meeting between ArcelorMittal CIS CEO Paramjit Kahlon and Iranian officials on Monday.
The parties discussed the possibility of a reduction in Iran’s import duties on steel products from Kazakhstan, the cancellation of an additional transportation duty ($1-1.50 per ton) for non-Iranian ships and other financial and logistical mechanisms aimed at increasing trade efficiency.
The current import duty for flat products in Iran currently stands at 15%.
source: Financial Tribune
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