Iran hikes import duties on steel

Reuters reported that the Iranian government has raised customs duties on certain steel imports to 10-20 percent to protect domestic steelmakers against the surge in Chinese exports.

Reuters quoted Keyvan Ja’fari Tehrani, head of international affairs at the Iranian Iron Ore Producers and Exporters Association (IRIOPEX), as saying, “A steel import tax has been imposed… to protect local steel mills against dumping by China, Russia and Turkey”.

The duties will be imposed on semi-finished, flat and long steel products in line with the country’s plans to increase its steel output by four times by 2025.



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