Iran plans to increase Steel exports

IRAN May 25 2017 3:07 PM
TEHRAN (Scrap Register): Iran after the re-election for the president, the government in now targeting the steel exports at 15 million tons during the Iran's sixth development plan to 2021, as per the the Iranian Steel Producers Association.

It is expected that with the current trend, the target is easily achievable and is estimated to reach 8 million tons in the current Iranian year ending 2018. Iran exported about 5.53 million tons of semi finished and finished steel during march of this year, which is about 30 percent of Iran's production.

“Domestic demand is quiet and 100% of the company's products are being exported for the time being,” as per the managing director Ahmad Sadeghi, Esfahan Steel Company . He also stated “Esfahan Steel is being saved by its profitable exports and we hope that this will continue in future.”

Iran's steel production capacity utilization is about 62 percent which is lower when compared to the international average of 72 percent. The main reason for this fall is the unchanged or declined demand.