ESCO Zeros In on Exports

Esfahan Steel Company plans to boost longs exports to 1 million tons by the end of the current fiscal year (started March 21) from last year’s 700,000 tons, ESCO’s head of sales and marketing said.

“Our products have already been presold for this month and the next,” Ehsan Dashtianeh was also quoted as saying by Foolad News.

ESCO’s export destinations include Iraq, Afghanistan, the UAE, Oman, Kuwait, Jordan, Germany, Belgium, the Netherlands, Sudan, Turkey, Taiwan and Thailand.

ESCO recently opened its online sales platform, becoming Iran’s first steel market player that uses a digital system for selling steel products.

“The initiative is aimed at eliminating intermediaries and providing easier access to all buyers of our products,” Ahmad Sadeqi, a company official, has been quoted as saying.

Currently, billet is excluded from the option and only finished steel products are available for sale. The minimal order is 24 tons (one truckload).

Only domestic sales are possible for the time being through the online system. However, ESCO intends to launch overseas online sales in the near future.

Esfahan Steel Company was Iran’s third largest steel exporter during the 10 months to January 19 by exporting 465,544 tons of beams, rebar, coils and ingots, indicating a 4% rise year-on-year.

ESCO’s export volume dropped for all products during the period.

Nonetheless, the Isfahan-based producer exported 6,563 and 2,868 tons of rebar and beam during the 10th Iranian month of Dey (Dec. 21-Jan. 19) last year, which shows a 68% and 77% rise respectively.

Founded in 1971, ESCO is Iran’s third biggest steelmaker and largest long steel producer directly controlled by the Ministry of Industries, Mining and Trade.