On the sidelines of the World Steel Association's (worldsteel) 46th annual meeting held in New Delhi on October 10, an expert from the Iranian steel industry told SteelOrbis that one of the main challenges the Iranian steel industry is facing are the high costs which hinder the competitiveness of local steel producers, as they cannot import raw materials directly due to the economic sanctions against the country, which means longer lead times. Meanwhile, another challenge facing the Iranian domestic steel industry, as pointed out by the expert, is the country's high inflation rate.
While stating that Iranian steel production is increasing, as can be seen in worldsteel figures, the Iranian steel expert said that the country is still heavily dependent on steel
billet imports, with its annual
billet imports reaching about seven million metric tons, mostly from
Turkey, compared to its domestic steel production capacity of about 12.5 million metric tons. However, as new capacities will come on stream in the coming period,
Iran's self-sufficiency will increase, he said.