Morgan Stanley: The recent situation in the Middle East has had a substantial impact on Iran's steel and iron ore supply chain.

Morgan Stanley analysts stated in a report that the recent situation in the Middle East has had a substantial impact on Iran's steel and iron ore industry chain, and may potentially affect the shipping market. The report indicated that by 2025, Iran's direct reduced iron production will account for approximately 25% of the global total, equivalent to around 37 million tons; and iron ore supply will account for approximately 3% of the global total, equivalent to around 68 million tons. In 2024, Iran exported approximately 800,000 tons of direct reduced iron and around 22 million tons of iron ore.