US expands sanctions on metal trade with Iran

In an illegal move, the US government has warned against exports of steel-making materials to Iran, the latest salvo in Washington’s economic terrorism to target everything from oil sales to civilian transportation and financial activities.

According to Press TV, the US State Department warned entities and individuals to avoid exporting graphite electrodes and needle coke to Iran.

"The US Department of State is issuing this advisory to alert persons globally to the US sanctions risks for parties involved in transfers or exports to Iran of graphite electrodes and needle coke, which are essential materials for Iran's steel industry," the notice said.

Graphite electrodes are used to melt scrap in electric arc furnaces to produce new steel. Needle coke is used as a key material for graphite electrodes in an electric arc furnace.

Iran is a leading producer of steel in the world, with officials saying exports continue despite the illegal US sanctions.

According to Khodadad Gharibpour, the head of Iran’s largest holding in metals sector known as IMIDRO, Iran’s steel output will hit 28 million tonnes in March when the current Iranian year concludes.

The country plans to increase its nominal capacity to 55 million tonnes a year by 2025.

While the sector is facing the headwinds of the illegal US sanctions, industry experts say Iran’s steel industry will continue to grow even in worst-case scenarios. This is because the steel sector feeds more than 50 industries linked to construction in the country of 82 million where there is always strong demand for steel.

According to Khodadad Gharibpour, the head of Iran’s largest holding in metals sector known as IMIDRO, Iran’s steel output will hit 28 million tonnes in March when the current Iranian year concludes.

The country plans to increase its nominal capacity to 55 million tonnes a year by 2025.

SS