As Iranian steel production growth is higher than domestic steel market demand growth, Iran has become an important steel exporter in recent years. According to the Iranian Steel Manufacturers Association (ISPA) this week, total exports of steel and DRI exceeded the historical record of 9 million metric tons for the fiscal year ending March 20, 2018. Of this total export volume, billet exports including billets and slabs accounted for 6.87 million metric tons, an increase of 84% year-on-year.

The Iran Steel Manufacturers Association stated that Iran intends to increase its total exports of steel and DRI to 120-1300 million metric tons during the current Iranian fiscal year ending March 20, 2019. Iran also plans to increase its crude steel production this fiscal year from 21 million tons last year to 26 million tons.