- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, Jan 9 - Iran’s dramatic currency depreciation has had beneficiaries, foremost in its burgeoning steel industry which has seen exports remain steady despite the new US sanctions.
TEHRAN, Young Journalists Club (YJC) - Last August, the US reenacted its secondary sanctions against Iran’s steel and aluminum products, gold and precious metals, graphite and coal to choke off the country’s vital revenue streams.
Further sanctions were imposed in November to target its lifelines in the oil, energy and shipping sectors, leading to a drop by several hundred thousand barrels per day in oil exports.
However, the metals industry has taken it all in its stride and even been boosted by the lower rial which has made steel exports highly competitive on world markets.
According to CEO of Tehran-based AASIM Consulting Group Mohsen Parvan, Iran's steel exports this year which ends March 21 are set to equal last year's record of over 9 million tonnes.
"Iran has so far exported 6 million tonnes of steel in this Iranian year, similar to the previous year. At least half is semi-finished products such as billet and slab," oil pricing agency S&P Global Platts quoted him as saying.
Iranian steelmakers have largely maintained their links with their partners, mostly in the Middle East, Russia, China and the European Union, despite the sanctions.
Iranian rebars, billets, IPE (I-beams), blooms and slabs have avid customers in Iraq, Qatar, Oman and the United Arab Emirates.
CIS nations such as Ukraine and Kazakhstan also take in supplies, with small amounts being sold in the EU where Iran’s steel exports are facing an increasingly hostile terrain.
The European Union has been levying tariffs on Iranian steel imports since October 2017 when the European Commission, the bloc’s executive body, hit hot-rolled steel from Iran with taxes.
Germany, Spain and Italy are Iran’s key customers for steel in the European Union.
According to Iranian Steel Producers' Association (ISPA) figures, exports of steel products totaled 5.273 million tonnes in the first eight months of the current Iranian year.
They included 1.92 million tonnes of finished products, up 104% year on year, and 3.335 million tonnes of semi-fabricated products, down 21%.
Last month, head of the Iranian Steel Producers Association Bahram Sobhani said Iran is capable of producing 25 million tonnes of steel in the current fiscal year.
Sobhani, however, gave a lower figure than AASIM’s 9 million tonnes in Iranian steel exports, expecting them to reach 7.8 million tonnes by the end of the year.
“At an average rate of $450 (per tonne), Iran’s steel exports will total $3.5 billion,” IRNA quoted him as saying.
Iran also imports steel, mainly stainless, flat and pipe products from CIS states, China and the EU, with Parvan expecting them to remain around 4 million tonnes this year.
AASIM operates an engineering consultancy with an Indian partner in the Iranian iron, steel, mining and chemical sectors, according to Platts.
Iran plans to boost steel output to 55 million tonnes a year by 2025, of which 10-15 million tonnes would be earmarked for export.
Currently, domestic steel consumption remains flat due to stagnating construction and car manufacturing industries which use up much of the steel needed in Iran.
Source: Press TV
Your Comment