New US sanctions slow down trading for Iranian semi-finished steel

Trading activity in the Iranian export market for steel billet and slab slowed down in the week ended Wednesday January 15 with the United States tightening its sanctions against a number of the Middle Eastern country’s major steelmakers amid increased tension between the two nations.

Iran fired multiple ballistic missiles on at least two military bases housing American forces early on January 8, in response to the killing of top Iranian military general Qasem Soleimani via a US drone attack at Iraq’s Baghdad International Airport late in the previous week.
US President Donald Trump in turn promised to tighten economic sanctions against Iran and targeted 17 Iranian metal producers and mining companies, as well as other foreign entities, with fresh sanctions on January 10.

Steel and steelmaking raw materials industry participants targeted by the sanctions include Mobarakeh Steel Co, which the US Treasury Department described as the biggest steel producer in the...

Published

Vlada Novokreshchenova

January 16, 2020

14:05 GMT

Dnepr