Iran seeks to increase steel export to Middle East
TEHRAN, Iran, May.8
Iran plans to increase of exports of steel to the Middle East to 14 million tons a year, Trend reports via IRNA.
The statistics from the Ministry of Industry, Mine and Trade indicate that the country has exported more than 9 million tons of steel ingots in the last Iranian year (started March 21,2019).
Iran's steel production has reached 28 million tons last Iranian year (started March 21,2019).
The outlook for 2025 is to export around 7 million tons of steel ingots and 7 million tons of crude steel.
The country is expected to construct some 400,000 apartments that would increase the domestic demand for steel as well.
Iran used to import 5 to 7 million tons of steel but today its steel production shares 40 to 45 percent of the country's export.
Iran's share of export in 2017 was 6,873 tons of crude steel that has put the country among high rank steel exporters including Russia, Ukraine, Brazil and Japan.
Iran, Saudi Arabia and the UAE are the biggest steel producers in the Middle East that have high steel consumption as well. The following three countries shares 70 percent of regions steel consumption.