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March, 21st 2018

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JAN 08

Esfahan Steel ships first rebar cargo to UK


Esfahan Steel (Esco) has shipped its first rebar cargo comprising 5,000 tonnes to the UK and is in talks with UK-based buyers to conclude further deals, a company representative tells Kallanish.

The deal, shipped last week, was concluded in October at $505/tonne fob Persian Gulf port. The cargo was a basket of various sizes, 40% of which were 12mm diameter.

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 bar (see Kallanish 29 November). This will help the firm achieve its goal of 1.1 million tonnes of exports in the Iranian year through 20 March 2018.

Esco exported over half of its steel production of 1.5mt in the eight months through 21 November. Destinations included Qatar, Sudan, Egypt, Oman, Thailand, United Arab Emirates, Pakistan, the Netherlands and Belgium. Although the firm’s design capacity is 3.6m t/year of pig iron, blast furnace no.1 remains idle, meaning current workable capacity is closer to 2.6m t/y.