Iran’s steel product exports surge by 130%
Baku, Azerbaijan, June 23
Iran’s major state-run steel companies produced over 4.258 million tons of steel ingots during the first two months of the current fiscal year (March 20-May 21).
The figure indicates a 21-percent increase compared to the preceding year, the Islamic Republic’s Mines and Mining Industries Development and Renovation Organization (IMIDRO) said.
The Iranian steel producers also produced over 4.407 million tons of various steel products (bloom, billet, slab, beam, rebar, cast iron ingot and etc.) in the 2-month period, 5 percent more year-on-year.
The state-run companies’ iron sponge output also registered a growth by 29 percent to 4.564 million tons during the first two months of the current fiscal year, according to the report.
The aforementioned companies exported 1.21 million tons of steel ingots in the same span of time, registering a 12-percent increase by year-on-year.
The steel products export of the state-run companies surged by 129 percent to 413,000 tons in the 2-month period as well.
The companies’ iron sponge export also accounted to 99,000 tons in the period, 39 percent less year-on-year.
In the meantime, the Islamic Republic imported 4,000 tons of crude steel (33 percent less compared to the 2-month period of 2017) and 187,000 tons of various steel products (47 percent less).
Based on a 2025 outlook, Iran’s steel output is to reach 55 million tons, 15 million of which should be exported.
Iran was the world’s 10th biggest producer of steel in the January-March of 2018, with a production of 6.81 million tons, 47 percent more compared to the first quarter of 2017.
The country’s total steel output reached 21.726 million tons in 2017, 21.4 percent more year-on-year.