News ID: 256885
Published: 0314 GMT August 05, 2019

Iran’s three-month steel products top 5m tons: ISPA

Iran’s three-month steel products top 5m tons: ISPA

Iranian steelmakers cast 5.27 million tons of steel products during the first three months of current Iranian year (March 21-June 21), which marks 15.6 percent of growth compared to corresponding figure of last year which was 4.56 million tons.

According to statistics released by Iranian Steel Producers’ Association (ISPA) on Monday, the country produced 6.68 million tons of steel ingots during the period, five percent more than the related figure for last year, which was 6.62 million tons, reported.

Iran’s exports of steel products rose 20 percent during the first quarter of current Iranian year compared to the first quarter of the previous year, the figures indicated.

According to the report, Iran exported 758,000 tons of steel products during the three-month period compared to 631,670 tons of preceding year.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) put the export of steel ingots at 1.42 million tons in the first quarter of current year, falling 23 percent from 1.85 million tons in the same time span of the past year.

On June 8, the deputy industry, mining and trade minister said the ministry had taken the necessary measures to maintain the country’s metal exports despite US sanctions.

“We have established a special working group in the ministry which is closely assessing the situation and making necessary arrangements to mitigate the impact of US sanctions,” Jafar Sarqini said.

The official noted that it is expected that exports from the country’s mining sector to at least reach the last year’s $8.5 billion by the end of the current Iranian year (March 20, 2020).

Iran’s annual steel production is planned to reach 45 million tons by 2022, according to Sarqini.

On June 15, the official announced that the country’s annual crude steel production is planned to reach 30 million tons in the current Iranian year.

He put Iran’s crude steel production at 25 million tons in the past year.

Sarqini had also announced that Iran will inaugurate steel projects with the capacity of at least 10 million tons during the current Iranian calendar year.

Also, during a meeting with the members of Iranian Steel Producers’ Association on Sunday, Iranian Industry, Mine and Trade Minister Reza Rahmani said the country had achieved a proper self-reliance in the steel industry.

The steel industry is an industry in which good investments have been made, and today it has become a production advantage, the minister underscored.

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