Major steel producers’ output rises 15% in 4 months on year

August 14, 2018 - 9:11

TEHRAN- Iran’s major steel producers produced 6.286 million tons of crude steel during the four-month period from March 21 to July 22, with 15 percent growth from the figure of the same period of time in the past year, IRIB reported on Monday based on the data released by Industry Ministry.

According to the latest report released by the World Steel Association (WSA), Iran was ranked the 11th among the world’s largest crude steel producers in the first half of 2018.

The WSA data showed that the country’s crude steel output stood at 12.516 million tons during the first six-month of this year, rising 25.8 percent from 9.947 million tons in the same period of time in the past year.

It is while the world’s steel production during January-June, 2018 rose just 4.6 percent.

“Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025,” Industry Minister Mohammad Shariatmadari said last month.

To hit the target, Iran is in need of attracting €8 billion of investments, the minister added.

He also announced that the country exports 9 million tons of crude steel per year and plans to improve the figure up to 15 million tons by 2025.

MA/MA

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