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Iran’s steel exports up 36% in y/y in March-June: IMIDRO

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran exported some $2.693 billion worth of steel in the four months to late July.

Iran’s exports of steel rose significantly in the four months to late July this year with China being responsible for more than a third of purchases, according to figures by state-run metals and mining company IMIDRO.

IMIDRO figures published on Saturday showed that Iran had exported some $2.693 billion worth of steel in the four months to July 22, an increase of 36% compared to the same period last year.

The figures showed Iranian overseas steel shipments had risen by 140% in volume terms year on year in March-July to reach 10.923 million metric tons (mt).

China was responsible for 37% or nearly $1 billion worth of steel purchases from Iran over the four months to late July as the country took delivery of 6.711 million mt of the Iranian steel shipments over the period, said IMIDRO.

It said Iranian steel exports to Iraq had reached 1.475 million mt worth nearly $497 million over March-July, making the Arab country the smallest customer of the Iranian steel shipments over the period.

The figures come days after reports suggested there had been a major surge in Iran’s exports of semi-finished steel and sponge iron this year.

Figures by the Iranian Steel Producers Association (ISPA) published on September 5 showed that exports of semi-finished steel from Iran had increased by 24.8% year on year in the five months to August 22 to reach 3.093 million mt.

ISPA figures also showed that Iran’s exports of sponge iron, or what is known technically as direct reduced iron (DRI), had reached 0.708 million mt in the five months to late August, up by more than 232% compared to the same period last year.

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