News ID: 173616
Published: 0718 GMT December 11, 2016

Eight-month steel exports at 6m tons

Eight-month steel exports at 6m tons

Iran exported six million tons of crude steel and steel products during the eight months to November 20, said minister of industry, mine and trade.

Mohammadreza Nematzadeh further said that the figure is expected to rise to nine million tons by mid-March, 2017, IRNA reported.

He noted that that the steel production capacity will amount to 55 million tons by 2025.

Iran's annual production of iron ore concentrates stands at 28 million, said Nematzadeh adding that of this figure, 16 million tons were added in the last 3½ years.

The official said production of iron ore concentrates will increase by four million tons in the coming year.

Iran's capacity for iron ore pelletizing currently stands at 21 million tons and this will increase by eight million tons in the near future, said Nematzadeh.

According to recent statistics released by World Steel Association (WSA), Iran produced 13.21 million tons of crude steel in the first nine months of 2016, showing an eight-percent rise compared to the figure for the same period of 2015, which was 12.231 million tons.

In September, Iran produced 1.59 million tons of crude steel recording a growth of 4.47 percent against the figure for August, which was 1.52 million tons.

Global steel production in September amounted to 132.909 million tons indicating a 0.9-percent decline compared to the output for August which reached 134.126 million tons.

WSA is the international trade body of the iron and steel industry. The association represents approximately 170 steel producers, including 17 of the world's 20 largest steel companies, national and regional steel industry associations and steel research institutes.

Its members account for around 85 percent of world steel production.

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