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Iran's steel export to make huge jump

Business Materials 5 July 2015 17:09 (UTC +04:00)
Iran is going to boost its steel export from 2.5 million metric tons to four million metric tons by the end of the current Iranian fiscal year (March 20), said Mahdi Karbasian, deputy minister of industry, mine, and trade.

Tehran, Iran, July 5

By Mehdi Sepahvand - Trend:

Iran is going to boost its steel export from 2.5 million metric tons to four million metric tons by the end of the current Iranian fiscal year (March 20), said Mahdi Karbasian, deputy minister of industry, mine, and trade.

He said that if financial resources are provided, Iran will boost its steel production to 55 million metric tons by 2025, IRIB news agency reported July 5.

The official further said that according to major economic policies, Iran aims at reducing its raw export.

He said by the end of next Iranian year, a number of projects related to concentrate and pellets will be completed, helping stop the export of raw iron ore.

Elsewhere in his remarks, Karbasian said by the end of the current Iranian year two iron ore projects in Kerman and Sangan areas will be operational each with a capacity of five million tons.

Iran's annual crude steel production hit 16 million metric tons in the previous Iranian calendar year (ended March 20, 2015).

Iran exported about $366 million iron ore (decreased 54.4 percent Y/Y) as well as above $2 billion worth of steel, iron and cast iron products, while imported $3.34 billion worth of iron and cast iron products during last fiscal year, ended on March 20, according to custom statistics.

The World Steel Association's statistics indicate that Iran produced 1,366 thousand tons, 1,409 thousand tons, and 1,315 thousand tons of steel from January to March.

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