Iranian Steel Top Official says the transfer of Mubarake steel to the south of the country is unprofessional, IRNA reports

The statements from the Iranian steel official signal potential disruptions in the steel supply chain due to damage at two factories, particularly in their furnace areas.

Newsquawk StaffPublished 29 Apr 2026, 15:06 UTCOn the live feed at 14:46 UTC — 5 more headlines followed before this page went public

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2 steel factories have suffered serious damage, both in the furnace area, and must be repaired.
Experts estimate that, if we look at these affected areas pessimistically, it will take 9 months to bring them back into orbit.
Did not see any serious damage in other steel areas, including iron beams and rebars.

Context

If it takes up to nine months for repairs, we could see upward pressure on steel prices, especially if demand remains steady or increases. Additionally, with no reported issues in other steel sectors, market focus may shift to the affected factories' recovery time, influencing sentiment in the metals market.

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