Iron and Steel

Impact on Iranian Billet Export from US Official`s Visit to SE Asia

Impact on Iranian Billet Export from US Official`s Visit to SE Asia
Mining News Pro - Iran, one of the largest exporter of billet in the world has exported around 1,266,000 MT billet in the first four months of current Persian year (21 Mar-22 Jul’18). Exports were up by 35% Y-o-Y against 939,000 MT exported in last Persian year.
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According to Mining News Pro - Iran, one of the largest exporter of billet in the world has exported around 1,266,000 MT billet in the first four months of current Persian year (21 Mar-22 Jul’18). Exports were up by 35% Y-o-Y against 939,000 MT exported in last Persian year.

Khouzestan Steel Company (553,550 MT) and South Kaveh Steel (303,000 MT) were the largest exporter of billet during the period. South East Asian countries like Thailand, Taiwan, Indonesia and Malaysia were the largest importers of Iranian billet.

Recent US Sanctions has slowed down the economy of the nation, resulted to depreciation of Iranian currency and instability in domestic steel market. Upon that, recent visit of senior U.S. official to Southeast Asian countries has further created dilemma on South East Asian importers of Iranian billet.

U.S. Assistant Secretary for Terrorist Financing Marshall Billingslea said, “US Official has urged the SE Asian nations to take the note of the Sanction. It`s not to say that we are dictating to any country what they must or must not do, but we are making it very clear that companies need to make an informed business decision because if they elect to do business with the Iranian regime in these proscribed areas, then they will not do business with the U.S. or the U.S. financial system."

Billingslea had visited Indonesia, Malaysia, Philippines and Thailand. He is leading a delegation that includes officials from the U.S. Treasury and Department of State.
SE Asian country accounts to 45-50% on total Iranian billet export. If the steelmakers abide US Sanctions on Iran then it will cause a major erosion on Iranian billet export.

As per Mr. Keyvan Jafari Tehrani; a renowned market consultant and trader from Iran;” If this happen then obviously it will affect badly on the Iran billet export market. South East Asia and Far East Asia are the major export destinations of Iran and if they accept US Sanctions on Iran then Iran cannot do anything but look for some other export destination.”

It is to be noted that Thailand is the largest importer of Iranian billet in SE Asia, the nation has imported 987,377 MT billet in last Persian year and 200,031 MT in the first four months of current Persian year.

Indonesia was the second largest importer of Iranian billet with imports of 343,586 MT in last Persian year and 106,261 MT in current Persian year. Taiwan was the third largest importer of billet from Iran, the nation imported 343,586 MT billet from Iran in last Persian year and 106,261 MT in current Persian year.

Other major importers in last Persian year fro SE Asia were Philippines (8,768 MT) and Malaysia (8,127 MT).


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