Steel products output up 11.6% in 4 months on year

August 26, 2019

TEHRAN- Production of steel products in Iran has risen 11.6 percent during the first four months of the current Iranian calendar year (March 21-July 22), from that of the same period of time in the past year, IRNA reported citing the data released by the Industry Ministry.

As reported, 7.204 million tons of the products have been produced in the four-month period of this year, rising from 6.453 million tons in the same time span of the previous year.

Also as previously announced, the country’s crude steel production in the mentioned time span rose by 7.1 percent to exceed 8 million tons.

Iran’s crude steel production stood at 7.518 million tons in the first four months of the past year.

Meanwhile, Iran’s major steel producers exported 2.241 million tons of steel during the four-month period of this year.

In a press conference on June 8, Iranian deputy industry, mining and trade minister said the ministry has taken necessary measures to maintain the country’s metal exports despite U.S. sanctions.

“We have established a special working group in the ministry which is closely assessing the situation and making necessary arrangements to mitigate the impact of U.S. sanctions,” Jafar Sarqini told the Tehran Times in the press conference.

The official noted that it is expected for the exports from the country’s mining sector to, at least, reach the last year’s $8.5 billion by the end of the current Iranian calendar year (March 2020).

Also, during a meeting with the members of Iran Steel Association on Sunday, Iranian Industry, Mining and Trade Minister Reza Rahmani said the country has achieved a proper self-reliance in steel industry.

Steel industry is one of the industries in which some good investment has been made and today it has become a production advantage, the minister further underscored.

Iran’s annual steel production is planned to reach 45 million tons by the Iranian calendar year 1400 (March 2021-March 2022), according to Sarqini.

Referring to the sanctions, the official said, “All those who have imposed sanctions against Iran aim to destroy he country’s production capabilities; therefore, the Ministry of Industry, Mining and Trade prefers that the steel producers focus first on production and in this due development projects with the physical progress of over 70 percent will also help achieve this target.”

On June 15, the official had announced that the country’s annual crude steel production is planned to reach 30 million tons in the current Iranian calendar year.

He put Iran’s crude steel production at 25 million tons in the past year.

Sarqini had also announced that Iran will inaugurate steel projects with the capacity of at least 10 million tons during the current Iranian calendar year.

MA/MA

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