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Iranian flat steel imports slump on rumors of duty cut-The 18th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
1/4/2017 Stainless Steel Exhibition |
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Financial Tribune reported that the recent news about a possible cut in the import duty on flat steel products entering Iran has led to a halt in trading. The exact date when the regulation will come into force is not yet clear, hence potential customers have adopted a wait-and-see approach.
Deputy Industries, Mining and Trade Minister Jafar Sarqeyni earlier this month said that ¡°Tariff rates on flat steel imports will be cut down by half to 10% in a bid to balance the domestic steel market. The supply of flat steel in the domestic market is slightly lower than demand, which can be balanced by imports.¡±
Mr Sarqeyni noted that the import of about 700,000 tons will be sufficient for the current Iranian year (ending March 20, 2017).
Last fiscal year witnessed the import of 5.2 million tons of flat steel.
Current import levels
HR - Russian USD 510-530 per tonne CFR Anzali
HR ¨C Chinese USD 530-570 per tonne CFR southern ports of Iran
CR - Russian USD 550-560 per tonne CFR Anzali
CR ¨C Chinese USD 625-655 per tonne CFR southern ports of Iran
HDG ¨C Chinese t USD 670-700 per ton CFR southern ports of Iran
-The 18th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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