July 20, 2008

Iran may cut import duties on I beam imports

It is reported that domestic prices of I beam in Iran are continuing their upward trend and Iranian government may cut import duties on I section to keep them under check.

As per report, current quoted price for I section steel had risen from USD 1,010 per tonne to USD 1,050 per tonne.

The main reasons for these increases are higher raw material cost and limited square billet resources and Iran’s major I beam producer Esfahan Steel Co has halted its production for around 40 days.

(Sourced from Yieh.com)