Lebanese steel importers have complained that lots of cheap Iranian steel flooded into Lebanon local market. Iranian ships has sent steel to Syria’s Latakia port first. Then, the steel was put into trucks and smuggled to Lebanon and has been sold at below US$150/ton.
Lots of steel from Syria has been smuggled as the Syria steel has not been inspected in the labs which required the steel to comply with international steel standards. The US was highly concerning this event.
As result, the US was taking actions to inform the Egyptian authorities that the Iranian ships went through its Suez Canal to reach Latakia. The smuggling needed to be stopped as Tehran was selling the steel for cash and hard currencies.
