EghtesadOnline: Iranian steel producer Bafgh Mineral Complex Iron and Steel Industry Company, otherwise known as B-MISCO, plans to enter the export segment.
The company aims to focus on foreign customers amid insufficient domestic demand. B-MISCO started rebar production at its rolling mill (550,000 tons per year) around two months ago. However, since demand for construction steel is low in Iran at present and prices are still depressed, the producer is forced to rely more on exports. “They launched production and now plan to export rather than sell domestically,” a representative of Iranian Steel Producers’ Association told Metal Expert. The company intended to supply the first lot of rebar to foreign buyers by the end of the current Iranian year (March 20, 2017). Iraq, Oman and Afghanistan are among potential destinations. B-MISCO located in Yazd Province is designed as an integrated steel mill, according to Financial Tribune. It includes an operating rolling mill as well as a pelletizing plant (5 million tons per year), DRI unit and smelting shop with a capacity of 800,000 tons per year. “Although the company is buying billet from local Iranian mills now, it plans to launch an electric arc furnace soon,” a source told Metal Expert.