Iranian flat steel import market quiet ahead of new year holiday

The Iranian flat steel import market remained largely inactive last week ahead of the country’s approaching new year celebration (Nowruz), which starts on March 21, sources told Metal Bulletin.

High import duties were another reason for the continuing weakness of the import market in Iran, but these are expected to be halved in the coming Iranian year. The current import duty for both hot rolled coil (HRC) and cold rolled coil (CRC) is 20%, while for hot dipped galvanized coil (HDG) it is 26%, which makes imports unprofitable compared with buying in the domestic market. Under the conditions of reduced buying activity in the country, trading companies which deal with imported materials have faced some...

Published

Vlada Novokreshchenova

March 16, 2017

16:58 GMT

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