BAKU, Azerbaijan, April 17. Iran's steel production in the last Iranian year (from March 21, 2023 through March 19, 2024) increased by 5.5 percent compared to the previous year (from March 21, 2022 through March 20, 2023), the data of Iran's Steel Producers Association said, Trend reports.
According to the report, Iran produced 32.1 million tons of crude steel last year. However, crude steel production was 30.4 million tons the previous year.
The report shows that Iran produced about 21.6 million tons of steel products last year. This shows a decrease of 0.05 percent compared to the previous year. The production of steel products in the previous year was 21.6 million tons.
The information shows that the country produced about 33.4 million tons of sponge iron last year. This was 5.3 percent more than the previous year. Thus, 31.7 million tons of sponge iron were produced the previous year.
Meanwhile, Iran produced 56.7 million tons of iron ore pellets last year. Iron ore pellet production increased by 4.1 percent year-on-year. A year earlier, iron ore pellet production was 54.5 million tons.
To note, Iran's steel production potential is about 40 million tons per year. Iran plans to increase steel production capacity to 55 million tons by 2025.
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