Iran has announced a ban on the export of steel slabs and sheets until May 30, 2024, due to damage inflicted on its steel industry amid ongoing strikes related to the conflict with Israel and the United States. Reports indicate that approximately 10 million tonnes, or 25-30%, of Iran's annual steel production capacity has been disrupted, particularly affecting major producers such as Mobarakeh Steel Company and Khuzestan Steel Company. This disruption is causing significant repercussions in industries reliant on steel, including construction and automotive sectors. A member of the Iran Chamber of Commerce has suggested that the steel sheet market may stabilize within two months as increased imports help alleviate shortages and curb speculative demand. However, the long-term outlook remains uncertain, with estimates indicating that it could take 6-12 months to fully restore operations. The decline in steel production and exports poses risks to Iran's trade balance and foreign currency revenues, potentially leading to job losses and increased inflation.