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Sanctions making Iranian steel exports difficult - ISPA

Steel News - Published on Wed, 12 Dec 2018

Image Source: SteelGuru
Iran Daily quoted head of the Iranian Steel Producers' Association as saying that Iran has the capacity to export between nine million tonnes to 10 million tonnes of steel by March 2019 if the outcomes of plans are favorable and conditions are ripe for exports. According to IRNA, Mr Bahram Sobhani added that "Today, sanctions and limitations imposed from outside on the country has made it difficult to export steel products. Under the present circumstances, the Central Bank of Iran, those who inject foreign currency resources into the domestic market, the Islamic Republic of Iran Customs Administration and other apparatuses are expected to join hands to make steel exports possible. Otherwise, either the surplus production should be hoarded or the level of production should be brought down."

He said “Iran has the capacity to produce 25 million tonnes of steel by March 20, adding up to 16 million tonnes of this figure will be channeled to the domestic market. The growth in production will lead to a substantial drop in imports and, thus, domestic consumption could be increased to 16 million tonnes. This way it will become possible to replace imports by domestic output."

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Posted By : Sanju Moirangthem on Wed, 12 Dec 2018
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