Iranian semi-finished steel producers have benefited from the growing demand for such materials in China, where domestic prices have surged due to government policies that have led to cuts in steel production because of environmental concerns.
While customers in Southeast Asia, the Middle East and Europe became more cautious about purchasing billet and slab from Iran, fearing the consequences of the sanctions reimposed against the country by the United States in August 2018, China ramped up its imports.The volume of semi-finished steel products exported from Iran in the first six months of the current Iranian year (March 21-September 22) was 4.02 million tonnes, up by 43% year-on-year, according to the latest report from the Iranian Steel Producers Association (ISPA). This growth was mainly a result of billet sales.Billet and bloom exports totaled 2.96 million tonnes over the six months, an 88% rise year-on-year, while slab exports came...