Iranian steel exports reached 59 countries in year to March: Report

Iranian steel exports reached 59 countries around the world over the calendar year to March 20, says a report which indicate that China bought nearly a third of all shipments.

The Wednesday report by the official IRNA news agency said that exports of Iranian steel products had reached a total of 11.687 million metric tons (mt) over the past calendar year.

It said steel ingot shipments had accounted for 7.678 million mt of all exports over the period, an increase of more than 24% compared to the year to March 2021.

Exports of other steel products rose by more than 20% in volume terms year on year in March to stand at 3.406 million mt, the report said, adding that sponge iron shipments had increased 25% over the same period to reach 1.055 million mt.

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Figures in the report showed that China had been responsible for 27.3% of all steel purchases from Iran over the year to late March.

They showed that Iraq, Indonesia, Thailand and the United Arab Emirates had bought nearly half of all Iranian steel shipments over the same period.

Iran has seen a major surge in activity in its mining and metals sector since the United States imposed sanctions on the country’s exports of crude oil nearly four years ago.

Metals exports have accounted for a major part of Iran’s foreign exchange revenues since 2019 when oil shipments started to decrease because of US sanctions.

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