Iran’s steel output increases amid sharp fall of imports

Business Materials 19 August 2018 13:57 (UTC +04:00)

Baku, Azerbaijan, August 19


Iran’s major state-run steel companies produced over 8.28 million tons of steel ingots during the first four months of the current fiscal year (March 20-July 21).

The figure indicates a 17-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 6.98 million tons of various steel products (bloom, billet, slab, beam, rebar, cast iron ingot and etc.) in the 4-month period, 10 percent more year-on-year.

The state-run companies’ iron sponge output also registered a growth by 19 percent to 8.6 million tons during the first four months of the current fiscal year, according to the report.

The aforementioned companies exported 2.487 million tons of steel ingots in the same span of time, registering a 16-percent increase by year-on-year.

The steel products export of the state-run companies surged by 117 percent to 898,000 tons in the 4-month period as well.

The companies’ iron sponge export also accounted to 285,000 tons in the period, 6 percent less year-on-year.

In the meantime, the Islamic Republic imported 16,000 tons of crude steel (167 percent less compared to the 4-month period of 2017) and 370,000 tons of various steel products (51 percent less).

Based on a 2025 outlook, Iran’s steel output is to reach 55 million tons, 15 million of which should be exported.

The country’s total steel output reached 21.726 million tons in 2017, 21.4 percent more year-on-year.