• 20 April 2020 - 16:27
  • News Code: 113221

Iran has seen a nearly two-fold increase in its exports of sponge iron, a raw material mixed with scrap metal to produce steel, despite a 10-percent tariff imposed on the shipments last year.

According to Ibena, statistical figures by the Iranian Steel Producers Association (ISPA) suggest that exports of sponge iron had surged in the 11-month period ending late February by some 86 percent.

The figures showed that iron mills across Iran had shipped a total 942,000 metric tons of sponge iron, also Direct Reduced Iron (DRI), over the period, a significant increase compared to the similar period spanning 2018-2019.

Sponge iron exports in the previous calendar year had declined year on year by 25 percent, said the report.

The rising exports of the raw material comes despite a government move in September to impose a duty of 10 percent on sponge iron shipments to other countries. The tariff was aimed at preventing a shortage of sponge iron in the Iranian steel mills.


You are replying to: .
1 + 14 =