Iran steel cut import duties

Iranian news agency quoted Iran's industrial, mining and vice minister of trade, according to reports in began on March 21, in the New Year in Iran, Iran will cut import duties on steel, flat material import duties will be from the current 20% to 20%, billet import duties may also be cut. Said, 25 dollars/tons of tariffs on imported steel imposed on just rumours, the Iranian government had planned to import duties were imposed on January plans to support the development of the country, but because of the downstream industry against the cancel.

The deputy minister said the government's goal is to improve the domestic steel consumption, that is, from the current 200 kg to 500 kg per capita, the upcoming New Year in Iran, the national steel production will increase to 18.5 million tons, exports of 4.5 million tons, 1 million tons of export to Europe. Iron ore production to extend from the current 75 million tons to 75 million tons per year, is likely to need to import iron ore by 2025.

At present, Iran's crude steel capacity of about 31 million tons, sponge iron production capacity of 27 million tons, 35 million tons of pellets mineral can, 45 million tons of iron ore concentrate, steel rolling capacity of 37 million tons.

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