Ministry Removes Export Duties on Steel Products

All finished steel products have been removed from the list of mineral products on which heavy export duties were imposed recently, following a letter sent by Director General of Mineral Industries Bureau of the Ministry of Industries, Mining and Trade Seifollah Amiri to the ministry’s Export and Import Regulations Office.
Export duties on steel slab, clinker, ferrochromium, ferrosilicon and iron ore concentrate have been set at 5%.
Steel billet, iron ore pellet, direct reduced iron, alloy steel (ingot), cement and float glass will experience a 2% customs duty while granulated iron ore will see between 5-11%, depending on iron content, Mehr News Agency reported.
Amiri noted that recent changes in export prices of mineral products has been the reason behind the government’s decision to change export duty rates.