New Materials market report from Business Monitor International: "Iran Metals Report Q1 2013"
Boston, MA -- (SBWIRE) -- 03/04/2013 -- BMI's latest Iran metals report examines how the Iranian steel industry is able to grow amid a punitive international sanctions regime and a domestic economic crisis. It also details the latest project developments as the country seeks to increase its steel capacity from 20mn tonnes per annum (mntpa) to 55mntpa by 2025, as well as a tripling of aluminium smelter capacity to 1.5mntpa.
While a cut in external trade has impacted negatively on the steel industry, isolation has also ensured that imports have also been restricted. However, domestic industrial deficiencies in certain market segments mean that Iran will struggle to meet its own needs in spite of declining consumption. Crude steel output rose 10.6% year-on-year (y-o-y) to 12.05mn tonnes in the first 10 months of 2012, representing one of the strongest growth rates in the world, rivalling Turkey.
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Nevertheless, due to infrastructural problems as well as a lack of billet and rebar capacity, the country is still dependent on imports to serve the market, mostly from Turkey. Meanwhile, growth in the manufacturing of steel products has slowed markedly, with existing crude steel capacities were unable to supply sufficient supply to downstream industries and therefore exacerbating the dependence on imported supplies. Weak points remain, with flats demand coming under pressure as automotive output suffers from declining domestic demand. Over the medium term, Iran will be reliant on exports at a time when it is becoming harder to sell on external markets.
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