Mr Bahram Sobhani MD of Isfahan Steel Mill has called for increasing steel import tariffs in light of reduced demand and falling prices in world markets.

Mr Sobhani said that steel import tariffs should be raised by 30% in order to support domestic producers, adding that increased tariffs will not push steel prices up. He added that the country needed around 20 million tonnes of steel last year, of which 11 million tonnes were produced by domestic manufacturers.

Mr Shobani said that “To minimize the effects of illegal sanctions on the industry, especially on the railway sector, Isfahan Steel Mill inked an agreement with the Islamic Republic of Iran Railways to produce rail tracks domestically.”

Under the agreement, close to 20,000 tonnes of rail tracks will be produced and delivered to Iran Railway over the next month.

(Sourced from: Iran Daily)