Iran's IMIDRO steel exports hit $385 million

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

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

The amount shows 5 per cent rise in comparison to the same time span previous year, the Mehr News Agency reported.

Deputy director of the Trade Promotion Organization 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 underway steel production projects come on stream.

Fatemi-Amin also said that some 7 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 percent increase in comparison to the same period previous year.

Iran's steel products output stood at 1.42 million tons in the 9th Iranian calendar month (November 21 - December 21), which is 1.9 per cent more than the same time span 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 come on stream some 4 million tons would be added to the country's sponge iron output capacity.

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

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