TEHRAN- Production of steel products in Iran dropped two percent during the first two months of the current Iranian calendar year (March 20-May 20) compared to the same period of time in the past year, IRNA reported.

As reported, 3.43 million tons of steel products were produced during the two-month period of this year.

The country has defined 16 development projects in the steel sector to boost the output of steel products by 17.3 million tons in five years.

These projects are for constructing production units each with the capacity of 600,000 tons, while some other projects have been also defined to set up some units with under 500,000-ton capacity that together with the 600,000-ton capacity units will add 19.1 million tons to the country’s annual steel products output.

In its latest report, the World Steel Association (WSA) has announced that Iran’s crude steel production increased by 30 percent in 2019 while the average global growth in this sector stood at 3.5 percent.

Based on the WSA report, Iran produced 31.9 million tons of the mentioned commodity during 2019 compared to the preceding year’s nearly 24 million tons.

MA/MA