20 April 2020 - 16:27

Iran's sponge iron exports surged by 86%

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.
News ID : 113221

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.

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