Home / Commodities / Commodity News / Steel products output increases 7% in 11 months yr/yr

Steel products output increases 7% in 11 months yr/yr

Production of steel products in Iran has risen seven percent during the eleven-month period from March 21, 2019 until February 19, 2020, compared to the same period of time in the previous year, IRNA reported.

As reported, steel products output stood at 12.308 million tons during the mentioned eleven-month period.

Iran has defined 16 development projects in the steel sector which are aimed to boost the country’s output of steel products by 17.3 million tons in a course of five years.

These projects are for constructing production units each with the capacity of 600,000 tons, while some other projects have been also defined to set up some units with under 500,000-ton capacity that together with the 600,000-ton capacity units will add 19.1 million tons to the country’s annual steel products output.

Iran’s annual steel production is planned to reach 45 million tons by the Iranian calendar year 1400 (March 2021-March 2022).

The country’s annual crude steel production has been planned to rise to 30 million tons in the current Iranian calendar year (ends on March 19) from 25 million tons in the past year.

In its latest report, the World Steel Association (WSA) announced that Iran’s crude steel production increased by 30 percent in 2019 while the average global growth in this sector stood at 3.5 percent.

Based on the WSA report, Iran produced 31.9 million tons of the mentioned commodity during 2019 compared to the last year’s nearly 24 million tons.
Source: Tehran Times

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping