Economy, Business And Markets

Top Export Destinations for Iranian Steel Products

Top Export Destinations for Iranian Steel Products Top Export Destinations for Iranian Steel Products

The Iranian steel industry and its upstream sectors exported over 3.84 million tons valued at $1.56 billion of industrial materials to 20 destinations during the eight months to November 20. 

The exports included iron ore lumps and fines, concentrates, pellets, direct-reduced iron, steel ingots, slabs, blooms, rebar, and hot and cold-rolled coils and sheets.

Thailand was Iran’s biggest export destination, as it accounted for 558,000 tons of steel shipments valued at $180.4 million. Other major market in Asia were the UAE with 499,200 tons, Taiwan with 384,000 tons, Oman with 307,200 tons, Iraq with 230,400 tons and Turkmenistan with 68,000 tons. 

Bangladesh, Kuwait, Qatar and Pakistan each accounted for less than 1% of the total figure, IRNA reported.

Iran's top export markets in Europe were Italy, Spain and Belgium. Italy accounted for 486,000 tons valued at $265.7 million, Spain for 144,000 tons valued at $107.4 million and Belgium for 37,000 tons valued at $34.8 million. 

The average export price to the three markets was $547, $748 and $943 per ton respectively.

Brazil was the sole importer of Iranian industrial commodities in Southern America with 156,000 tons worth $50.4 million.

Morocco took the lead in Africa, as it accounted for 135,000 tons worth $41.8 million, followed by Egypt with 125,000 tons worth $34.9 million. Iran’s total eight-month mineral exports stood at 34 million tons worth over $4.41 billion, rising by 36% and 34% in weight and value respectively.

Steel and steel products took the lion’s share of exports in terms of value, as 4.3 million tons worth $1.82 billion were exported. The exports registered a 106.6% and 37.7% growth in volume and value respectively.

Iron ore shipments stood at 11.8 million tons worth $451.5 million, rising by 43% and 48.5% year-on-year.

Iran is the world’s 14th largest steelmaker and holds the world’s 10th largest iron ore reserves.


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