Iran to slap duty on direct reduced iron exports

摘要

London—All Iranian exports of direct reduced iron (DRI) and hot briquetted iron (HBI) under HS code 7203 will be subject to a 10% export duty from January 30, according to a directive issued by the Minister of Industries, Mining and Trade, Reza Rahmani. The new tax is expected to reduce DRI shipments but not to stop them, according to an informed industry source. "DRI exports have increased substantially over the past few months. However, they are now expected to slow down in the coming months: I don’t think they halted completely because the new duty is not so much, especially for the producers which are located near the exporting ports," the source said.