3rd Iran Steel Export Perspectives Conference

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At last Iran has got an opportunity to enter the export market of metallized products owing to the launch of HBI production at Persian Gulf Saba Steel.

Persian Gulf Saba Steel aims to start commissioning phase of DRI unit in January, a company representative told Metal Expert. The equipment supplied by MIDREX is capable of producing 1.5 million t of CDRI/ HBI per year. Initially, it was planned that the company will produce 1.5 million tpy of billet. However, for the moment Persian Gulf Saba Steel has not disclosed information about the terms of further expansion plans in the upstream segment. "Next steps are being investigated," the source added.

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Iran’s largest flat steel producer Mobarakeh Steel Company (MSC) will increase its production capacity aiming to meet growing domestic demand.

MSC is planning to expand its production potential to 10.3 million t of crude steel by the end of current Iranian year (ending on March 20, 2017). The company is going to launch new casting unit with a production capacity of 1.8 million tpy in the near future. Furthermore, MSC is completing its project development at Saba Steel Complex (up to 1.6 million t from 750,000 t) and Hormozgan Steel Company (up to 3 million t from 1.5 million t), which will be the final stage of MSC’s expansion plan, Metal Expert learnt. 

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The US House of Representatives approved the legislation to renew the Iran sanctions law. Iran’s business community, including the steel sector, is wary about the decision but does not give up.

The US lawmakers reauthorized the Iran Sanctions Act, a law first adopted in 1996, thus extending it by 10 years. The Iran measure will expire at the end of 2016 if it is not renewed. It must still be passed by the Senate and signed by President Barack Obama in order to become law, Metal Expert learnt from official documents. Over the years, Iran had been subjected to wide-ranging oil, trade, and financial regulations, which caused an overwhelming effect on country’s economy. Recently, world powers agreed to suspend these restrictions under condition that Iran rolls back its nuclear program. However, the House has come to a decision to prolong the sanctions.

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