TEHRAN, Iran, Oct.19
Trend:
Iran's steel producing companies have offered 1.3 million tons of steel at Iran Mercantile Exchange in the first five months of the current Iranian year (started March 20, 2020) the volume has covered 51.1 percent of demands.
Statistics indicate that during this period, demands for steel was 2.663 million tons while 1.361 million tons was offered, Trend reports citing IRNA.
The statistics from the Iranian Steel Producers Association show 11.8 million tons of steel ingot produced in the first five months of the current Iranian year (started March 20, 2020) that increased 10 percent compared to the same time in the last Iranian year (started March 21, 2019).
Demands for purchasing steel from the mercantile exchange were at its peak from May 21 to June 20. Customers have requested to buy 816,595 tons of steel while producers offered 365,85 tons and fulfilled 44.7 percent of demands.
Following the statistics, demands for purchase of steel ingot had declined from July 22 to August 21 by 44.7 percent compared to the previous month while producers offered 251,15 tons.
It is expected that Iran would produce 30 million tons of steel in the current Iranian year(started March 20, 2020) and export 30 percent of the products to foreign markets.