News ID: 199456
Published: 0209 GMT August 27, 2017

Iran produces 7m tons of steel in four months

Iran produces 7m tons of steel in four months

Iran produced about 7.062 million tons of crude steel in the four months to July 22.

The figure shows a 17-percent growth compared to the amount for the same period last year, announced Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) in a statement, IRNA reported.

Crude steel output stood at 1.75 million tons during June 22-July 22.

Iran's privatized (state-run companies which were recently ceded to the private sector) steel companies produced 5.382 million tons of crude steel during the period while 1.68 million tons were produced by the private sector.

Iranian steel plants also produced about 6.339 million tons of various steel products including beam, wide sheets, hot rolled sheets, galvanized steel and tubes during the 4-month period, indicating a 10-percent growth compared to 5.75 million tons in the same period of the preceding year.

Privatized steel companies produced 3.675 million tons of steel products while private sector production stood at 2.664 million tons.

Iran exported 2.138 million tons of crude steel (67 percent increase year-on-year) and 414,000 tons of various steel products (52 percent fall) in the four months to July 21.

The country also imported 761,000 tons of steel products in the four-month period which is 24 percent less year-on-year. Meanwhile 6,000 tons of crude steel was imported in the same four months (a decline of 89 percent).

Based on a 2025 outlook, Iran's steel output is to reach 55 million tons, 15 million of which should be exported. For the year to mid-March 2018, it is predicted that Iran will produce 18 million tons of steel, of which six million tons will be exported.

   
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