Iran produces 7 mln tons of steel in 4 months

Business Materials 25 August 2017 17:56 (UTC +04:00)

Baku, Azerbaijan, Aug. 25

By Fatih Karimov – Trend:

About 7.062 million tons of crude steel was produced in Iran during the first four months of the current fiscal year (March 20-July 21, 2017).

The figure shows a rise by 17 percent compared to the same period last year, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), said.

The country’s crude steel output stood at 1.75 million tons in the fourth Iranian calendar month (June 21-July 21).

Iran’s privatized (state-run companies which recently have been handed over to the private sector) steel companies produced 5.382 million tons of crude steel during the period, meanwhile output of the private sector producers stood at 1.68 million tons.

Iranian steel producer companies also produced about 6.339 million tons of various steel products including beam, wide sheets, hot rolled sheets, galvanized steel and tubes during the 4-month period, indicating a rise by 10 percent compared to 5.75 million tons of products in the same period of the preceding year.

The privatized steel companies produced 3.675 million tons of steel products, meanwhile the share of the private sector producers stood at 2.664 million tons.

Iran exported 2.138 million tons of crude steel (67 percent increase year-on-year) and 414,000 tons of various steel products (52 percent fall) in the first four months month of current fiscal year.

The country also imported 761,000 tons of steel products in the 4-month period, 24 percent less year-on-year. Meanwhile 6,000 tons of crude steel was imported in the same four months (89 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.