Iran’s steel exports, comprising of ingots and steel products, decreased by 33pc to 2.358mn mt in the first six months of Iranian calendar year (March 20-Sept 21, 2020) from the prior-year period, according to media reports. The fall in exports comes on the back of decline in overseas demand coupled with an increase in domestic demand amid the COVID-19 pandemic.
Exports in September accounted for 19.6pc of the total exports in H1. The figures indicate exports in the coming days are likely to increase with the global economy heading towards normalcy.
Iran’s steel output is likely to reach 30mn mt in the current Iranian year, of which 10mn mt could be exported.