The return of relative prosperity to the Iranian steel market

It was agreed to change the obligation of steel producers to provide export currency in the "Nima" system and the rate of return on export currency for steel producers' own imports or group companies!

According to the information received, the Director General of the Central Bank announced that in parallel with the development of exports of the metal industry, the Committee for the return of foreign currency from exports will be established. On the one hand, meeting the foreign exchange expenses of this chain, such as the supply of raw materials, equipment and machinery, on the other hand, the supply of energy needed by this industry has enabled imports to be made in return. Exports by itself and other companies in the same group at the agreed rate.

In this way, the resources obtained from the exports of all production items of the steel chain can be transferred to the foreign exchange expenses related to this chain, as determined by the Ministry of Industry, Mining and Trade.

This important decision will increase the exports of the steel sector due to the attractiveness of exports, which in turn will facilitate and accelerate the provision of foreign exchange for the development projects of the steel chain. Of course, this will affect future revenues and the growth of steel and metal products on the country's stock exchange.