According to the Iran Steel Producers Association (ISPA), the country's finished steel imports increased by 5% compared to the same period of the previous year, reaching 1.2 million tons.
While the flat steel segment made the biggest contribution to this growth, the increase in hot rolled steel (HRC) imports was particularly noteworthy. HRC bookings rose 23% to 422,000 tons, accounting for the largest share of Iran's steel imports.
Decline in CRC and HDG Imports
On the other hand, imports of cold rolled steel (CRC) fell by 2% to 472,000 tons, while imports of galvanized steel (HDG) decreased by 5% to 225,000 tons.
Foreign Exchange Policy and Special Attention to Chinese Imports
Government support for steel imports and regulations in the foreign exchange market are seen as decisive factors in reducing Iran's import dependency. Officials at Chaharmahal and Bakhtiari Auto Sheets Company (CBASCO) say that the difference between the Iranian currency and the official and free market exchange rate is the biggest incentive for imports, especially galvanized and cold-rolled sheets.
Moreover, the absence of import tariffs in Iran, unlike other countries' tariff policies against Chinese steel products, gives Chinese suppliers an advantage. “It is clear that there is a special interest in Chinese suppliers at some exhibitions,” the CBASCO official said, drawing attention to Iran's steel import policies.
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