Parliament’s Commission on Industries and Mines Meeting to Review the Steel Chain Market Regulation Plan

The discussed proposal could significantly increase the prices of concentrate, pellets, and sponge iron in the country, bringing them closer to export prices.

Despite a surplus of 10 million tons in the country’s steel production compared to domestic demand and foreign currency needs — and despite objections from the Chamber of Commerce, specialized associations, and IMIDRO — members of the Parliament’s Commission on Industries and Mines approved the imposition of taxes on steel chain exports (including rebar).
It is noteworthy that the Mining Deputy of the Ministry of Industry, Mine, and Trade (MIMT) supported this proposal.

This controversial plan will be presented in the open session of the Parliament, and if approved by the representatives and ratified by the Guardian Council, it will become law