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Iran's steel product supplies increases by 21 percent

Business Materials 16 July 2011 14:34

Azerbaijan, Baku, July 16 /Trend/

The volume of Iran's steel product in the first three months of the current Iranian calendar year (started on March 20, 2011) increased by 21 percent, IRNA reported quoting Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mohammad Masoud Samienejad as saying.

"More than 3.5 million tons of steel products sold in the domestic market in the first three months of the current Iranian calendar year indicating 38 percent growth of value comparing last year," he said.

More than 1.1 million tons of steel ingot sold $ 567 million during first three months of the current year showing 49 percent increased comparing to same time in last year while volume of warm products increased by 20 percent to 96,000 tons and sold $681 million.

Iranian daily Donya-e Eqtesad previously reported the country's steel production growth rate was 13 percent in first half of 2011.

By producing more than 5.5 million tons of steel the country over-passed the world's major steel producers in term of production growth.

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