Iran to impose new Duty on Steel Imports

By John Lee.

Platts has reported that the Iranian parliament will impose a new duty on steel imports, likely to be effective from September.

The duty is Iranian Rial 100,000/mt (about $25/mt) of imported material and it will cover billet, beam, different strips, tubes, pipes, stainless steel and scrap.

It is in addition to all import taxes already in place, and the funds raised from it will be used for the development of the country’s railway system.

Amirhosein Kaveh, secretary of the Iranian Syndicate of Steel Pipe and Profile Manufacturers, said the Iranian government is following a highly protective policy for the upstream steel industry, at the expense of downstream users.

(Source: Platts)

(Picture: Tasnim)

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