Iran’s leading steel company’s exports increase by 45%

Baku, Azerbaijan, Apr. 5

By Umid Niayesh - Trend:

Iran's leading Steel Company, Mobarakeh exported 1.5 million metric tons of crude steel, worth $700 million during the last Iranian fiscal year (ended on March 21).

The company's exports indicate an increase by 45 percent in terms of volume year on year, the company's deputy head, Mahmoud Akbari said, Iran's official IRNA news agency reported April 5.

He further said that over 50 percent of the company's exported products went to the European markets and the rest to other countries in particular in the Middle East and East Asia.

Akbari also forecasted that the company's exports during the current fiscal year to hit two million metric tons.

Mobarakeh Steel Company shares over 50 percent of Iran's total crude steel output.

Iran produced 16.331 million metric tons of crude steel in 2014. The country's crude steel production reached 15.421 million metric tons in 2013, which was 6.6 percent more than its preceding year.

Iran was the world's 15th biggest producer of steel in 2013.

The world's total crude steel output in 2014 was around 1.636 billion metric tons, which is 1.1 percent more than 2013.

Iran plans to increase its annual steel output to 55 million metric tons by the end of the Fifth Five-Year Development Plan (2015).

Follow the author on Twitter: @UmidNiayesh

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