Over 3.5m tons of steel products produced in a quarter

July 10, 2020 - 11:11

TEHRAN- Production of steel products in Iran stood at over 3.566 million tons during the first quarter of the current Iranian calendar year (March 20-June 20), IRNA reported.

As reported, the quarterly output shows a one-percent growth compared to the same period of time in the previous year.

Meanwhile, the production of steel ingot in the country has increased eight percent to stand at over 5.702 million tons during the first quarter 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.

Iran, which stood at the 13th place in 2017, passed over three major steel producers in the world, namely Italy, Taiwan, and Ukraine to stand at the 10th place in 2018 despite the re-imposition of sanctions by the U.S.

The Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei has urged the government to prevent the exports of raw minerals in order to be processed in the country for making products with more added value.

Following the leader’s remarks, the government levied a 25-percent duty on the exports of raw minerals (especially iron ore) as from September 23, 2019.

Industry, Mining and Trade Ministry believes that the duty is going to encourage the production of more processed minerals such as pellets and concentrate instead of selling the raw minerals.

Iran’s export of steel products in the past Iranian calendar year rose 27 percent compared to its preceding year.

As reported, the country’s major steel producers managed to export about 7.33 million tons of the products in the previous year.

According to Deputy Industry, Mining, and Trade Minister Darioush Esmaili, 10 years ago Iran exported more than 20 million tons of unprocessed iron ore and the figure fell to a maximum of six million tons last year.

MA/MA

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