Seven-month steel exports by major Iranian producers up 8%

tasnimnews.com

Exports by 10 major Iranian steel producers increased by eight percent to reach 4,049,874 tons during March 21-October 22, 2019.

The companies include Esfahan Steel Company, Mobarakeh Steel Company, Khuzestan Steel Company, Hormuzgan Steel Company, Iran Alloy Steel Company, Khorasan Steel Company, South Kaveh Steel Company, Saba Steel, Bonab Steel Mill Complex, and Chadormalu Mining and Industrial Company, according to IRNA.

Khuzestan Steel Company had the biggest share in Iran’s total exports in this period, by selling 1,083,674 tons of the product in foreign markets, showing a 26.7 percent reduction compared to the figure for the same period last year.

The Iranian Ministry of Industry, Mine and Trade has set a steel production target of 40 million tons for the year to March 2020, of which 12 million tons are expected to be exported.

Iran seeks to increase its annual steel output to 55 million tons by 2025 and export 40 percent of the figure.