Iran reduces import duty on some steel products

SteelOrbis has been informed that the Iranian government has decided to reduce import duty for several steel products.

Thus, as of May 29, import duty on wire rod has been reduced from 16 percent to 11 percent, while import duty on light and T-sections has been reduced from 11 percent to 6 percent.

The reduction has been implemented with the aim of stabilizing domestic steel prices.