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EghtesadOnline: Russian steelmaker Magnitogorsk Iron & Steel Works, otherwise known as MMK, has started shipping its flat steel products to Iran through Kazakhstan’s port of Aktau.

Transportation through Aktau will allow MMK save money and develop sales to Iran, according to market sources. The first batch of material was successfully shipped last week, Metal Bulletin reported. MMK has not commented on the volumes planned to be shipped through the port. The steelmaker has traditionally shipped its steel products, mainly hot rolled coil, to Iran through the Russian port of Astrakhan near Caspian Sea, according to Financial Tribune. Over January-November 2016, MMK supplied around 900,000 tons of flat steel products to Iran, around 85% of which were HRC. Depending on the season, the cost of freight between Astrakhan and the northern Iranian port of Anzali varies within the $18-22 per ton range. The cost of freight between Aktau and Anzali varies from $12-15 per ton.

Iran-Russia Trade Iran Steel Iran flat steel MMK Russia steel Magnitogorsk