Sponge iron export stands at 20,000 tons in 2 months

June 21, 2020 - 10:19

TEHRAN- Iran exported 20,000 tons of sponge iron during the first two months of the current Iranian calendar year (March 20-May 20), IRNA reported.

As reported, the two-month export of the product shows an 87 percent drop from 158,000 tons of export in the same period of time in the past year.

Although, the production of sponge iron in Iran has risen 11 percent during the first two months of this year from that of the previous year.

As reported, 5.552 million tons of sponge iron has been produced during the two-month period of this year, rising from 4.994 million tons produced in the same time span of the past year.

Iran’s production of sponge iron has climbed six percent to 27.907 million tons in the past Iranian calendar year (ended on March 19), from 26.359 million tons in its preceding year, according to the data released by Iranian Steel Producers Association (ISPA).

The country’s export of sponge iron has also risen 77 percent in the past year.

Meanwhile, sponge iron consumption in the country increased four percent to 26.965 million tons from 25.826 million tons on an annual basis.

Three projects each with a capacity of 800,000 tons were launched in the country during the past Iranian year.

The projects were put into operation in the southeastern province of Kerman, South Khorasan Province in east and Chaharmahal-Bakhtiari Province in the southwest of the country.

Iran is only second to India globally in terms of the volume of sponge iron production. The country is the 10th largest steel producer in the world.

Sponge iron is a metallic product produced through the direct reduction of iron ore in the strong state. It is a substitute for scrap and therefore is mostly applicable in making steel through the secondary route. The procedure of sponge iron making aims to expel the oxygen from iron ore.

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