Iran’s five-month steel production hikes by 11%

TEHRAN, Oct. 17 (MNA) – Iranian steel mills produced a total of 9.328 million tons of crude steel during the first five months of the current Iranian year (March 21-Aug. 22).

According to the data released by the Ministry of Industry, Mine and Trade, the figure indicates a 10.8% increase compared with last year’s corresponding period, when the country’s steel output stood at 8.42 million tons.

Production of iron ore and coal concentrate also observed an increase during the period.

Iranian companies produced close to 15.398 million tons of iron ore and 607,400 tons of coal concentrate, indicating a 13% and 5.1% growth, respectively.

Iran has been active in the foreign steel markets, especially in the neighboring states. the country’s exported 998,000 tons of steel worth more than $546 million to Iraq and Afghanistan during the first five-month period. The figure demonstrates a 95% and 136% growth in volume and value, respectively, compared to the corresponding period last year.

Iran envisages to reach an annual production of 55 million tons of crude steel and 20-25 million tons of exports per year by 2025.

MR/IRN83068657

News Code 138781

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