Long steel export volumes from Iran may shrink under new restriction

The government of Iran has imposed new restrictions on exports of long steel products from the country, limiting the volumes that may be sold to foreign customers to 25% of production, Fastmarkets has learnt.

The restriction will apply to both finished long steel products and steel billet, market participants said. But it appears that this limit will be fluid. The intention behind the restriction is to meet domestic demand first. All manufacturers of long steel must supply 60% of production for domestic sales on the Iran Mercantile Exchange (IME). With a formal limit of 25% on exports, the remaining 15% would appear to be destined for the domestic market as well. “[But]...

Published

Vlada Novokreshchenova

May 13, 2020

12:10 GMT

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