Conflict with the US has yet to pressure Iranian steel market

Escalated tension between the United States and Iran has not yet had any direct effect on steel export trade from the Middle East country, Fastmarkets has learned.

"China and Southeast Asia take the majority of Iranian material, so the situation will largely depend on traders [selling into these markets]," an Iranian industry source said.
"[The] market just reopened after holidays. We need several more days to see what happens," one trader source said.
Iran fired multiple ballistic missiles on at least two military bases in the country housing American forces early on Wednesday January 8 in response to the killing of top Iranian military general Qasem Soleimani via a US drone attack at Baghdad International Airport late last week.
US president Donald Trump in turn promised to tighten economic sanctions against the country.

In August 2018, the US re-imposed a first tranche of sanctions against Iran after announcing its withdrawal from the nuclear agreement reached with the country under former President Barack Obama's administration. The re-imposition of...

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