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20 Jun

Iran sees two-month drop in semi-finished steel exports

Iran's exports of semi-finished and coil goods plummeted in the first two months of the Iranian calendar year - 20 March 2024-20 May 2024 - compared with the previous year. This was mainly due the government decree requiring exporters to convert foreign earnings at the Nima exchange rate, which is almost 25-30% lower than the free market rate, Kallanish notes. The country recorded a 23.7% year-on-year plunge in combined semi-finished and finished ste…
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