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New steel mill to offset Russian halt to Iran sales
[PRESSTV] Iran’s opening of a new steel mill in central Isfahan last month will offset a cut in sales of hot-rolled (HR) steel coils in the face of looming unilateral US sanctions, officials say.Steel traders, cited by Rooters, said Tuesday that Russian steelmakers Severstal and MMK as well as ArcelorMittal Temirtau, a Kazakh unit of the world’s largest steelmaker, were cutting back their sales to Iran. Alex Agoureev, an adviser to ArcelorMittal Temirtau, said the company will suspend the export of hot-rolled coils to Iran due to the re-imposition of US sanctions. "Supplies to Iran will be temporarily suspended due to the sanctions. Once sanctions are lifted, the supplies will be resumed," he said. Iran, however, was slashing imports even before US President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... ’s announcement to impose new sanctions on the Islamic Theocratic Republic. Imports of hot-rolled coils from Russia and Kazakhstan constitute a small fraction of Iran’s consumption. Last year, the country used up 5.6 million tonnes of HT coils, of which 0.8 million tonnes were imported. Severstal and MMK shipped 410,000 tonnes and ArcelorMittal Temirtau another 240,000 tonnes of HR coils less than 2mm thick which were not produced in Iran at a time. HR coil is used in the pipes and profiles segment, which is a large steel end-use sector in the country. Puneet Paliwal, a senior analyst with market intelligence group specializing in metals CRU, said that the cut in imports should not have a big effect on Iran. Last month, Iran launched commercial production of HR coils, steel sheet and ribbed sheet at Mobarakeh Steel Company (MSC) in Isfahan, with a capacity of 1.6 million tonnes. Posted by: Fred 2018-07-19 |
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