Shifting trends The fact that more Iranian cargoes are
making their way to Southeast Asia shows that Iranian
steelmakers have jumped on to the export bandwagon ever since
the Middle Eastern country opened up to international trade
early last year. The country shipped 5.53 million tonnes of
steel products abroad during the Iranian year ended March 20,
of which 3.74 million tonnes consisted of semi-finished
products. It aims to increase its steel exports to 8 million
tonnes in the current Iranian year, which ends on March 21,
2018. Meanwhile, China’s steel exports have been
sliding on a year-on-year basis since the end of 2016 because
of plans to cut capacity being pushed forward by the
country’s central government and, more recently, a
crackdown on mills that produce substandard steel. In
January-May this year, China exported 34.19 million tonnes of
finished steel – a steep fall of 26.1% from 46.28
million tonnes over the same period...
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