Iran’s earnings from iron and steel exports fell 4.7% year-on-year in the first quarter of its calendar year, despite a rise in export volumes, data from the Iranian Steel Producers Association (ISPA) showed on Sunday.
The country earned $1.602 billion from iron and steel shipments in the three months to June 21, down from the same period a year earlier.
However, the volume of shipments rose 17.3% over the same period to 8.958 million metric tons (mt), the data showed.
Exports of finished steel products declined sharply, with 709,000 mt shipped in Q1, down 27% year-on-year. Revenues from those exports dropped 31% to $329 million.
Exports of semi-finished steel – including billet, bloom, and slab – rose 8% in volume to 1.686 million mt. But revenues fell 6% to $697 million.
Raw iron exports, which include sponge iron, pellets, and concentrates, jumped nearly 30% to 6.564 million mt in the quarter. Revenues from these shipments rose 25% to $575 million.
Iran ranks among the world’s top 10 steel producers and has ramped up output and exports in recent years as part of a broader strategy to diversify its economy. The ongoing conflict between Russia and Ukraine has also shifted global steel trade dynamics, benefiting some regional producers, including Iran.