Islamic Republic of Iran managed to produce 2,350,000 tons of steel in March 2018, showing a significant 43.7 percent growth.
According to statistics, crude steel production volume in the world registered a considerable four percent (4%) growth. Totally, steel production volume in the world recorded a 4.1 percent hike in the first three months of the current year in 2018.
Moreover, 2,125,000 tons of Direct Reduction Iron (DRI) dubbed ‘sponge iron’ was produced in the first three months of 2018, showing a considerable 47.3 percent growth as compared to the same period of last year.
Iran’s production of sponge iron in the same period hit 52.4 percent growth, ranking second in the world as compared with the other countries.
Earlier, World Steel Association had announced that total export volume of steel chain surpassed 9.2 million tons due to the considerable production growth of these products in 2017.
About 400 million tons of minerals is extracted from mines in the country annually, so that construction materials account for more than 60 percent of total mineral reserves.
The Ministry of Industry, Mine and Trade put the number of mines and mineral deposits in the country at over 10,000 units, about 6,000 of which are active while the rest are stagnant and inactive.
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