SteelOrbis has learned that several Iranian steel mills, in particular Mobarakeh Steel Co. and Esfahan Steel Co., were forced to cut their production about two weeks ago due to a shortage of natural gas supplies.
This cut in output resulted in a price rising effect (prices in the market increased by $10-15/mt) in the local Iranian market, as buyers began to anticipate a steel shortage. Yet, as market players report, the Iranian steel market has since regained its stability as, after the renewal of gas supplies, Mobarakeh and Esfahan were partially able to restore their production volumes to normal levels.