Iran’s 11-month steel output grows

TEHRAN, Mar. 17 (MNA) – Iranian steel mills produced 19.604 million tons of crude steel in the past 11 months of the current fiscal (through Feb 19), up 8% compared with last year’s corresponding period, according to the data released by Iran Steel Producers Association.

According to the report, production of semis also observed a 13% growth during the period.

Billet and bloom output stood at 12.958 million tons, while that of slab reached 9.738 million tons.

Hot-rolled coil had the lion’s share of finished steel production with 7.277 million tons, up 3% year-on-year.

It was followed by rebar with 7.102 million tons, up 24% in comparison with last years 11-month period.

Production of cold-rolled coil stood at 2.34 million tons, up 14%, while the production of coated coil with 1.272 million tons observed a 9% fall.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the capacity target.

Iranian steelmakers produced 21.88 million tons of semis and 19.77 million tons of finished goods last fiscal to register a 19% and 9% YOY growth respectively. They exported 6.87 million tons of semis and 1.62 million tons of finished steel during the period, recording an 84% growth and a 10% downtick YOY respectively.

MR/IRN83245946

News Code 143469

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