News ID: 208028
Published: 0314 GMT January 12, 2018

Iran begins rebar exports to UK

Iran begins rebar exports to UK

Iran's Esfahan Steel Company (ESCO) has shipped its first rebar cargo to the UK, a company source told S&P Global Platts.

"The cargo is due in late January 2018 and is now ready to be shipped," the company source said.

Additional contracts are nearly finalization for the same destination, while another cargo is under negotiation for Scotland, he added.

This comes after ESCO became the first Iranian steelmaker to obtain UK Cares certification, confirming its billet and rebar conforms to BS 4449:2005 standard Grade B500B.

ESCO is Iran's largest producer of long products and the only Iranian steel producer using blast furnaces of which it has three — one (with 1 million tons/year capacity) is idle as a result of low demand in the domestic market.

About 50 percent of the company's output has been exported during the nine months from March 21, 2017 to Belgium, the Netherlands, Sudan, Egypt, Thailand, Pakistan, Oman, UAE and other parts of the Middle East, according to the company.

It is the first rebar cargo to be shipped to a European country from Iran, a Tehran-based steel trader told Platts.

   
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