Steel ingot production vol. hits 9.2mn tons in 5 months

TEHRAN, Sep. 08 (MNA) – Subsidiary units of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and major industrial-mineral companies produced 9,238,503 tons of steel ingot in first five months of the current year.

Steel ingot production volume in the first five months of the current year (from March 21 to August 21) registered a seven price hike as compared to the last year’s corresponding period.

Accordingly, steel productions volume hit 6,003,980 tons in the first five months of the current year, showing a two percent hike as compared to the same period of last year.

Islamic Republic of Iran in world’s top 10 steelmakers. With the studies made, it is targeted that Islamic Republic of Iran will produce 55 million tons of steel in 2025 Outlook Plan.

Of total 55 million steel production volume, it is predicted that between 30 and 35 million tons of which will be used in the country while the rest will be exported.

Export statistics in industrial and mineral sector indicate that steel sector accounts for 40-45 percent of total export share in industrial and mineral sector.

In early 1990s, Iran imported an average of five to seven million tons of steel annually but now, the country imports several hundred thousand tons of special steels, the rate of which shows that Iran’s steel import has decreased dramatically.

In this respect, Islamic Republic of Iran exported about 10 million tons of steel in 2019.

A review of last year's statistics shows that about seven million tons of steel ingots and three million tons of steel products have been exported to several target markets, IMIDRO added.

MA/IRN84031008

News Code 163257

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