IRON and STEEL
Iran traded 1.56 million tons of non-oil commodities worth $754.55 million with Thailand during the 10 months to Jan. 20, registering a fall of 19.92% and 12.94% in tonnage and value respectively compared with last year's corresponding period, latest data released by the Islamic Republic of Iran Customs Administration show.
Iran’s exports to Thailand stood at 1.23 million tons worth $580.38 million, down 17.83% and 1.15% in tonnage and value respectively year-on-year.
Thailand was Iran’s 11th export destination during the period.
Iran mainly exported non-alloy iron/steel ingots, liquefied propane and non-alloy semi-finished iron/steel products to Thailand during the 10-month period.
Thailand exported 333,179 tons of goods worth $174.17 million to Iran, down 26.83% and 37.71% in tonnage and value respectively YOY. Thailand was the 25th exporter of goods to Iran over the period.
The imports mainly included medium-density fibers, electrical equipment and split units.
US tariff cuts on steel imports from Turkey has started strengthening the trade sentiment in CIS nations, effects can be witnessed with recent billet export indications from CIS nations, which was reported to be USD 420-423/MT, FoB Black Sea. This is higher against last week offers of USD 410-415/MT, FoB Black Sea.
Iran exported 49,578 tons of non-oil commodities worth $12.77 million to Nepal in the last fiscal year (ended March 20, 2019) to register a 2,236.25% and 3,114.84% hike in tonnage and value respectively compared with the year before, the latest data released by the Islamic Republic of Iran Customs Administration show.
A meeting between Syrian economic officials and an Iranian delegation was held in Damascus on Wednesday to discuss economic cooperation between the two countries.
Iran traded 44,668 tons of non-oil commodities worth $79 million with Lebanon during the last fiscal year (ended March 20, 2019) to register a 122.44% growth in tonnage and 38.23% decline in value compared with the year before, data released by the Islamic Republic of Iran Customs Administration show.
In conversation with industry participants, SteelMint learned that imported scrap offers to Bangladesh have further fallen this week on the account major correction in global levels along with slow sales of domestic finished steel.
Ongoing elections, rising inventory among traders, poor sales volumes, low liquidity along with dull demand continued to keep domestic HRC market under pressure.