Iran’s steel industry seeks steel import duty hike to 40 percent

Monday, 22 June 2015 16:18:37 (GMT+3)   |   Istanbul
       

Bahram Sobhani, chairman of the Iranian Steel Producers Association and managing director of Iranian steelmaker Mobarakeh Steel Group, has said that a hike in steel import tariffs which took effect on March 21 this year is not enough to support the local industry and that an official demand for further hikes in import tariffs has been presented to the government.
 
"Although a new tariffs regime has come into effect since March, the drop in global prices has surpassed the new tariffs. For instance, prices of flat steel products have fallen by as much as 40 percent, whereas new tariffs do not exceed 15 percent. Naturally, 15 percent tariffs cannot stop or compensate for a 40 percent price decline. That is why local producers want an additional hike," said the Mobarakeh Steel CEO.

He went on to say that the industry is asking for a 40 percent import duty for finished steel products, 30 percent import duty on rebar and 25 percent duty on ingots, adding that the government has not given the green light for hiking import duties.
 
Mr. Sobhani also indicated that, while there are no incentives for exports for the time being, "incentives are necessary to encourage local producers to set their sights on exports and make additional efforts to compete with foreign firms". He added that Mobarakeh Steel is targeting exports totaling 1.5 million mt this year.


Similar articles

Import billet prices in UAE return to reasonable levels for now

10 Feb | Longs and Billet

Billet buyers in GCC region still focused on Iranian origin, prices soften

20 Sep | Longs and Billet

Iran’s ESCO collects bids in ongoing billet tender

11 Aug | Longs and Billet

Domestic billet in demand in GCC, but prices under pressure

19 Jul | Longs and Billet

Iran’s billet exporters continue to benefit from stronger demand in Asia

11 Oct | Longs and Billet

Ex-Iran steel billet prices supported by stronger Chinese market

23 Sep | Longs and Billet

Ex-Iran slab price slightly down in recent tender 

23 Sep | Flats and Slab

Ex-Iran billet suppliers try to raise prices further amid developments in China

16 Sep | Longs and Billet

Ex-Iran semi-finished prices lower in new deals

11 Feb | Longs and Billet

New slab export tender in Iran closed at higher price but short of target

19 Jan | Flats and Slab