Iranian exports of steel to Europe soared by eight times in the 2013 to 2016 period to just over 1mn tonnes/yr, European trade group Eurofer said on February 16.
"The threat [to European steel makers] from Iran is new and it's going to be one of the top three issues: China, India, Iran," Karl Tachelet, external relations and trade director at Eurofer, told Reuters.
For annual steel exports to Europe, Iran is now just behind India at 1.9mn tonnes. China is far ahead at 5.7mn tonnes.
Iran has been boosting its steel sector, with assistance from foreign investors, in the post-sanctions era that started in January 2016.
Tehran has said it aims to export between 20 and 25mn tonnes of steel annually by 2025 and to drive total output up to 55mn tonnes from the present estimated 16mn tonnes.
Iranian Minister for Industry, Mining and Trade Mohammadreza Nematzadeh said at a conference held this week in Tehran that the country saw 10% growth in steel exports worldwide in the past 11 months of the Iranian year (March 21 to February 19).
Iran is aiming to become the world’s sixth largest steel producer as part of its 20-year plan ending 2025, for which year it is targeting annual production of 55mn tonnes.
Iranian President Hassan Rouhani dismissed US counterpart Donald Trump as a "tradesman" not qualified to comment on global treaties as on April 25 he questioned how it is that the US and European ... more
Top Iranian officials including Supreme Leader Ayatollah Ali Khamenei stopped using the Telegram Messenger messaging application and started promoting domestic alternatives in advance of the April 18 ... more
Chinese electronics giant ZTE Corp on April 17 was forced to halt trading of its shares in Hong Kong and Shenzen after the US slapped it with a seven-year ban on buying American-made chips ... more