Economy, Business And Markets

Iran Lowers Flat Steel Import Tariffs

The final ratification of reduced import tariffs shows downstream flat steel users, who accused suppliers of deliberately limiting supply and jacking up prices, have won the months-long battle over heavyweight producers such as Mobarakeh Steel Company
The government had promised to cut down flat steel import tariffs since February 2017.The government had promised to cut down flat steel import tariffs since February 2017.
Critics of the new duties, such as Iran Steel Producers Association, maintain that lower import tariffs are unlikely to have the effect desired by the government and users: that is, lower flat steel prices in the local market

The government has finally dialed down import duties on various types of flat steel, despite objections by producers and even government bodies such as Iranian Mines and Mining Industries Development and Renovation Organization.
According to reports by Chilan Online, tariffs on hot-rolled coil with a thickness of up to 4.75 mm and HRC wider than 1,850 mm have fallen by 5% to reach 10%. This is while duties on API flat products used in oil, gas and petrochemical industries have reduced from 15% to reach 10%.
Import duties for cold-rolled coil with 0.5-1 mm thickness have reached 10% from the previous 20%.
Duties on tin-plated flats less than 0.5 mm have shed 11% to stand at 15%.


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