Iran’s 8-month steel ingot production up 5% yr/yr
The output of Iran’s major steel ingot producers reached 17.424 million tons in the first eight months of the current Iranian calendar year (March 21-November 22), indicating a five percent increase compared to last year’s same period.
As reported by IRNA, the mentioned steel producing units managed to produce 16.64 million tons of the commodity in the last year’s eight-month period.
The country’s output of steel products also experienced a seven-percent rise in the said time span.
During the said period, steel companies produced 13.556 million tons of steel products (rebar, beam, sheets, etc.) in comparison to the last year which the figure stood at 12.635 million tons.
In addition, the country’s production of sponge iron in the mentioned eight-month period reached 18.552 million tons to register an increase of seven percent compared to the 17.363 million tons in the previous year’s same time span.
In early November, Iran’s deputy industry, mining, and trade minister said the country’s steel products output is going to reach 28 million tons by the end of the current Iranian calendar year.
Speaking on the sidelines of the 15th International Exhibition for Mines, Construction Machinery and Related Industry and Equipment (Iran ConMin 2019), Jafar Sarqini put the country’s steel products output in the first half of the current calendar year (March, 21-September 22) at 13.2 million tons.
“Industry ministry is planning to increase the exports of steel products to 12 million tons by the end of the year [calendar year which ends on March 19, 2020],” Sarqini said.
The value of the exports of such commodities is expected to reach $9 billion by yearend, the official added.
Iran’s annual steel production is planned to reach 45 million tons by the Iranian calendar year 1400 (March 2021-March 2022).
Source: Tehran Times