Iran set to increase export duty on scrap to 70 percent

Iran plans to raise the export duty on ferrous scrap to the level of 70 percent. According to SteelOrbis' sources, the Iranian ministry of commerce has increased the duty from 50 percent to 70 percent following some pressure from Iranian producers of billet in the Iranian steel producers' association, protesting in particular against exports by Indian and Pakistani companies.
 
The bureaucratic process to implement the increase still continues and no formal statement has been made by Iranian authorities yet.