Iran produces more than 14mn ton of ingots in H1

TEHRAN, Oct. 19 (MNA) – According to the IMIDRO, Iran's steel ingot production in the first half of the current calendar year (ending on September 21), exceeded 14 million tons.

The figure shows a 10% growth compared to the same period in the year before,  Iranian Mines and Mining Industries Development and Renovation (IMIDRO) reported.

According to the official release date, the country's steel companies produced 14.39 million tons of steel ingots (billets, bloom, and slabs) in the first half of the present year, which is 13.8 million tons more than the production level in the same period last year.

Also, the production of steel products (beams, rebars, and etc.) during the first 6 months of this year stood at 11.03 million tons, indicating 8 percent growth compared to the same period last year when the figure stood at 10.1 million tons.

The amount of sponge iron production in the first six months of this year was 15.5 million tons, which shows a 10 percent increase compared to the produced level in the same period last year, which stood at 14.1 million tons.

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

Of a total of 55 million steel production volumes, 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 the industrial and mineral sectors indicate that the steel sector accounts for 40-45 percent of total export share in the industrial and mineral sectors.

In the 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, the 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.

HJ/5051522

News Code 164901

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