Exports stood at $2.6 billion as imports during the period were worth $527 million, according to a report by Tehran Chamber of Commerce, Industries, Mines and Agriculture.
The trade volume registered a 200% growth compared with the same period of last year, mainly due to the 300% growth in exports.
The TCCIM report also noted that the main driver of growth in metal exports was the 600% upsurge in steel coil exports, the chamber’s news portal reported.
China, Iraq and Turkey were the main export destinations for Iranian metals in Q1.
Metal imports registered a 7% year-on-year growth with cold-rolled coil being the main imported product during the period.
The imports mainly came from China, the UAE and Turkey. The growth in imports from the UAE was the main driver of increase in total metal imports in Q1.
Imports from Switzerland, Hong Kong, Brazil and Vietnam registered 7.6%, 6.7%, 4.9% and 4.5% growth respectively.
The report also explains that the exports mainly consisted of products with little value added, i.e., those that undergo no or small processing.
Steel Trade
Iranian steelmakers exported a total of 1.62 million tons of semi-finished products in Q1, up 55% year-on-year, according to the Iranian Steel Producers Association.
Billet and bloom had the lion’s share of semis exports with an aggregate of 1.06 million tons, 26% higher than the previous corresponding period.
Slab exports stood at 563,000 tons during the period, up 176% YOY.
Exports of finished steel products jumped by 125% to 873,000 tons during the three months under review.
Rebar accounted for the largest portion of finished steel products exported from Iran during the period, with 684,000 tons. The total volume of Iran’s rebar exports experienced a 142% growth compared with the same period of last year.
Beam exports amounted to 36,000 tons, up 33% YOY, while 64,000 tons of L-beam, T-beam and other types were also exported during the period, recording a 94% YOY rise.
Hot-rolled coil exports hit 57,000 tons, registering a 171% growth compared with Q1 of the year before. This is while cold-rolled coil with 1,000 tons registered an 89% decline year-on-year.
Coated coil with 31,000 tons, up 107% YOY, was another finished steel product exported from Iran.
Exports of direct-reduced iron increased by 1,505% YOY to 321,000 tons, ISPA figures show.
Imports of semi-finished steel stood at 1,000 tons in Q1, unchanged YOY.
Iran did not import any billet and bloom in the period, which stood at 1,000 tons in the same period of last year.
Slab imports stood at 1,000 tons. Iran did not import any slab in last year's same period.
Imports of finished steel rose by 2% YOY to 194,000 tons. The imports mostly included HRC with 45,000 tons, down 48%; CRC with 79,000 tons, up 80%; coated coil with 50,000, up 4%; L-beam, T-beam and other types with 9,000 tons, up 29%; rebar with 8,000 tons, up 60% and beam with 3,000 tons, up 100%.
According to ISPA, the output for semi-finished products stood at 8.07 million tons during the period, up 6% year-on-year.
Billet and bloom made up 4.88 million tons of semi-finished production, up 7% YOY.
Slab output reached 3.2 million tons to register a 6% year-on-year rise.
The output of finished steel increased by 7% YOY to 5.4 million tons.
Long steel products had a 3.1 million-ton share in the output of finished steel products, posting a 16% growth compared with the same period of last year.
Rebar production stood at 2.55 million tons (up 17% YOY). It was followed by beams with 318,000 tons (up 7% YOY) and L-beam, T-beam and other types with 232,000 tons (up 20% YOY).
Production of flat steel with 2.3 million tons registered a 3% YOY decline in the three-month period.
Hot-rolled coil made up 2.25 million tons of the production in this category, showing a 2% decline compared with the similar period of last year. It was followed by cold-rolled coil with 650,000 tons, down 1% compared with the same period of last year; and coated coil with 398,000 (up 24%).
Iran's output of direct reduced iron grew by 8% to 8.76 million tons, ISPA’s data show.