Iran steel and mining sectors see supply surges and calls for export growth

Iran's mining and steel sectors are seeing significant activity in both domestic commodity trading and strategic policy discussions. On the Iran Mercantile Exchange, major steel producers have announced large-scale rebar offerings for Wednesday, October 7, 2026. Jahan Steel Sirjan plans to supply 5,000 tons of various rebar grades through both cash and credit transactions. Similarly, Isfahan Steel Company has scheduled the release of several thousand tons of rebar, including various grades and lengths, with options for credit settlement via letters of credit or electronic promissory notes.

On the policy front, Vajehollah Jafari, Deputy Minister of Industry, Mine and Trade, highlighted the untapped potential of Iran's mineral resources. While the country holds approximately 3.5 billion tons of stone reserves, the actual annual extraction rate is estimated at only 30% of licensed capacity, totaling roughly 11.5 to 12 million tons. Jafari noted that despite these vast reserves, the industry's foreign currency earnings remain low at approximately $230 million, emphasizing the urgent need for market development and improved export strategies to boost economic returns.