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Iran's IMIDRO steel exports hit $385 million

Business Materials 16 January 2013 15:35

Azerbaijan, Baku, Jan.16/ Trend F.Milad‎

Iranian Mines & Mining Industries Development & Renovation Organisation has exported over 385 million dollars' worth of steel in the first nine months of the current Iranian calendar year which began March 20, 2012.

The amount shows a five per cent rise in comparison to the same time in the previous year, the Mehr News Agency reported.

Deputy Director of the Trade Promotion Organisation of Iran, Kioumars Fathollah Kermanshahi, said on Tuesday that Iran's crude steel production will reach 17.5 million tons in the current Iranian calendar year which ends March 20.

Iran's annual crude steel consumption currently stands at 25 million tons, he said.

Iran plans to reach the production capacity of 55 million tons by 2025, Fathollah Kermanshahi added.

The deputy industry minister, Reza Fatemi-Amin, said on September 9, 2012, that Iran will no longer need to import steel products next year once the current steel production projects come on stream.

Fatemi-Amin also said that some seven million tons of crude steel is imported annually.

Iran will become one of the world's main steel exporters by March 2016, Ghazanfari said in May 2011.

Some 13.12 million tons of steel products were produced in the first nine months of current Iranian calendar year which began March 20, 2012.

The figure shows a 2.9 per cent increase in comparison to the same period last year.

Iran's steel production output stood at 1.42 million tons in the ninth Iranian calendar month (November 21 - December 21), which is 1.9 per cent more than the same time in the previous year.

IMIDRO announced in December that four steel projects will come on stream in the first half of the next Iranian calendar year to start March 20.

Once the projects are up and running, some four million tons would be added to the country's sponge iron output capacity.

The projects will be completed at a cost of 458 million euros and 10.16 trillion rials (some $828.7 based on the official dollar rate).

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