News ID: 251420
Published: 0313 GMT April 14, 2019

Iran exports over 4m tons of crude steel

Iran exports over 4m tons of crude steel

Iran exported 4.484 million tons of crude steel as well as 2.6 million tons of steel products during March 21, 2018-February 19, 2019, announced the Iranian Steel Producers' Association (ISPA) in a statement on Sunday.

The ISPA report indicated that Iranian steelmakers exported 507,000 tons of sponge iron during the 11-month period, IRNA reported.

A sum of 1.437 million tons of round bar was exported in the said period, while 158,000 tons of coated iron sheets were exported.

The head of ISPA said in December 2018 that Iran had the capacity to export between nine million to 10 million tons of steel per year.

Bahram Sobhani added, “Today [unilateral US] sanctions [on Iran] and limitations imposed from outside on the country has made it difficult to export steel products.”

He noted that under the present circumstances, the Central Bank of Iran, those who inject foreign currency into the domestic market, the Islamic Republic of Iran Customs Administration and other apparatuses are expected to join hands to make steel exports possible.

“Otherwise, either surplus production should be hoarded or the level of production should be brought down."

The growth in production will lead to a substantial drop in imports and, thus, domestic consumption could be increased to 16 million tons, the ISPA head noted.

“This way it will become possible to replace imports by domestic output.”

Sobhani underlined that Iran is the region’s largest steel producer with an annual production of 25 million tons, adding that the country ranks 10th in the world.

Iran ranked 10th among crude steel producers last year with 25 million tons of production, according to figures released by the World Steel Association (WSA).

The statistics show a 17.72-percent rise for Iran compared to the corresponding figure of 2017 which stood at 21.24 million tons.

Iran was the 14th steelmaker of the world in 2017.

According to the Islamic Republic's Vision Plan, the country's total steel production capacity is to hit 55 million tons per year by 2025, with export figures expected to reach 10-15 million tons.

The World Steel Association (WSA) is one of the largest and most dynamic industry associations in the world. WSA members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers with nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.


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