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Iranian company Mobarakeh Steel Co (MSC) asks to reduce import duties on hire

According to the latest reports, the steel company Mobarakeh Steel Co (MSC) began negotiating with the government of Iran. The company suggests the government to reduce duties on cold — and hot-rolled coils. Today, taxes make up twenty percent. Mobarakeh Steel Co hope to achieve a fifteen percent. According to the President of the company Bahram Sobhani — he believes that this initiative will support industry in need of steel. The other party of such innovation will reduce the level of protection in Iranian steel market.

This year, in Iran there has been a growing demand for steel. This contributed to the discovery of several oil and construction projects. But, the main reason for the increase was the partial lifting of international sanctions. Moreover, it is assumed that in the future investing in the Iranian economy will continue rapid growth.

This year, Iran has exported a minimum of products. The reason lies in the fact that domestic steel production does not cover needs of the country. Any shortfall quantity of product kompensiruet by imports from neighbouring countries. According to the Ministry statistics, Iran steel imports and its derivatives increased by three percent. For the first nine months the country imported of 2.57 million tons.

The problem for the Iranian industries stereotipically steel is that the price of the product in the domestic market higher. In this regard, there is internal discontent among the producers. Therefore, it is possible that the initiative of the company Mobarakeh Steel Co will acquire a massive support. There is evidence that the company Platts it intends to take the initiative reduced duties to 5%.

In comparison to global rates, Iranian tariffs are among the highest. Semi-finished products subject to tax at 15%, flat products — 20−25%, bars and shapes for 26%.

Over the past year, Iran started to actively restore the economy. Significant growth was observed in construction and infrastructure industry. They are the main consumers of steel products. The problem of shortage of steel was formed as a consequence of the lack of steel in the domestic market of Iran.

According to world analysts, the Iranian government to make concessions to the companies. As the risks of dumping, for the moment, neutralized. Because there is an urgent need to compensate for raw material.

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