ISPA: Steel imports drop in first eight months in boost to domestic industry
Iran’s steel imports fell by 42% in volume and 36% in value during the first eight months of the current Iranian year — from March 21 to end of November — a decline that is being assessed as good news, according to data released by the Iranian Steel Producers Association (ISPA).
The association said nearly $650 million worth of steel products were imported in this period, with steel sheet products accounting for more than 93% of the total, IRNA reported.
Close to $600 million of those imports consisted of various steel sheets. Yet the necessity of such imports is under serious doubt, as more than 55% of the country’s cold-rolled sheet production capacity and about 70% of its galvanized sheet capacity remain unused.
The report added that the downward trend in iron and steel chain imports over the eight-month period is clearly evident and explicitly described the reduction as “good news.”
ISPA also warned that, given the ongoing risk of dumping by China and Russia, policymakers must remain vigilant to protect domestic production.