Iran’s crude steel export up by 45%

Business Materials 8 July 2017 11:56

Baku, Azerbaijan, July 8

By Fatih Karimov– Trend:

Over 3.52 million tons of crude steel was produced in Iran during the first two months of the current fiscal year (March 20-May 20, 2017).

The figure shows a rise by 12 percent compared to the same period last year, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), said July 8.

Iran’s privatized (state-run companies which recently have been handed over to the private sector) steel companies produced 2.74 million tons of crude steel during the period, meanwhile output of the private sector producers stood at 786,000 tons.

Iranian steel producer companies also produced about 3.25 million tons of various steel products including beam, wide sheets, hot rolled sheets, galvanized steel and tubes during the 2-month period, indicating a rise by 15 percent compared to 2.82 million tons of products in the same period of the preceding year.

The privatized steel companies produced 1.936 million tons of steel products, meanwhile the share of the private sector producers stood at 1.313 million tons.

Iran exported 1.084 million tons of crude steel (45 percent increase year-on-year) and 180,000 tons of various steel products (65 percent fall) in the first two months month of current fiscal year.

The country also imported 351,000 tons of steel products in the 2-month period, 29 percent less year-on-year. Meanwhile 6,000 tons of crude steel was imported in the same two months (81 percent fall).

Based on a 2025 outlook, Iran’s steel output is to reach 55 million tons, 15 million of which should be exported. For the current Iranian year, it is predicted that Iran will produce 18 million tons of steel, exporting 6 million tons of it.