Iran Cut Some Steel Import Duties

    Iranian government recently decided to cut some of the steel import duties, and immediately implemented. Semi-finished steels such as billets are cut from 15% to 5%, hot rolled sheet from 20% to 15%, and hot rolled sheet from 3% to 10%.

    Downward adjustment of steel import duty is unfavorable to steel producers, but it is welcomed by the downstream steel manufacturing industry, but the downstream manufacturing industry believes that the reduction is not enough to reduce the import barriers, especially the manufacturing needs to import the steel plate with thickness under 3mm .