Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The United States government intends to impose sanctions on Iranian steelmakers in the coming days. Twelve Iranian steelmakers and manufacturers are backlisted. The US admin mulls to impose sanctions despite US President Trump reaching the end of his term at the office.   


Sanction will be imposed on 10 Iranian steel mills including Middle East Mines and Mineral Industries Development Holding (MIDHCO), Khazar Steel, Vian Steel Complex, South Rouhina Steel Complex, Yazd Industrial Constructional Steel Rolling Mill, West Alborz Steel Complex, Esfarayen Industrial Complex, Bonab Steel Industry Complex, Sirjan Iranian Steel and Zarand Iranian Steel, according to a statement issued by the US admin. Two more companies, Pasargad Steel Complex and the Gilan Steel Complex operating in the Iranian steel sector would be under sanctions.


US government also blacklisted a Chinese company that manufactures components for steel production named Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC) and three foreign-based distributors of a major Iranian metals and mining holding company.  

The purpose of the sanction is to lower Iranian government’s revenues. The iron and steel production is a major source of revenue for Iran. The country’s crude steel production rose by 13pc during the first 11 months of 2020 from the previous period, according to the World Steel Association.  

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