News ID: 121670
Published: 0719 GMT July 05, 2015

Steel exports expected to reach 4m tons by March

Steel exports expected to reach 4m tons by March

A senior official said Iran is expected to export four million tons of steel in the year to March 2016.

Speaking to reporters late Saturday, Deputy Minister of Industries, Mines and Trade Mehdi Karbasian said for the first time in history, Iran exported more than two million tons of steel last year, Press TV reported.

"At present, the Ministry of Industries, Mines and Trade and IMIDRO [Iranian Mines and Mining Industries Development and Renovation Organization] have created suitable conditions for steel exports to maintain Iran's market share despite stiff international competition," he added.

The official noted that the Ministry of Industries, Mines and Trade issued permits for the export of steel at the beginning of 2013, which has been extended several times and is still in place.

"Due to suitable conditions in the industry, the target figure for steel exports in the current year is about twice the figure for last year and Iran's steel exports are expected to hit 4 million tons," he said.

Karbasian stated that Iran's steel output stood at 16.9 million tons last year — up two percent from the figure for the previous year.

Earlier in April, IMIDRO released a report announcing that Iran's crude steel production has witnessed about 10 percent rise in the first quarter of 2015.

The report added that the country produced right over four million tons of crude steel in the first three months of 2015, showing a 9.6-percent increase from the figure for the same period last year.

Major crude steel producers of Iran are the Mobarakeh Steel Mill, with approximately 47 percent of the market share, followed by the Khuzestan Steel Company with about 23 percent, the Isfahan Foundry with about 20 percent, and the Iran National Steel Industries Group with some 10 percent of the market share.

According to World Steel Association (WSA), Iran is the 14th crude steel producer in the world, given the hike in its steel output.

According to the Islamic Republic's Vision Plan, the country's total steel production capacity is to hit 55 million tons a year by 2025, with an expected exports figure of 10-15 million tons.

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