Steel ingot exports rise 19%

March 15, 2022 - 15:10

TEHRAN- Iran exported over 6.642 million tons of steel ingots during the first 11 months of the current Iranian calendar year (March 21, 2021-February 19, 2022) which was 19 percent more than the figure of the same period of time in the past year.

According to the Industry, Mining, and Trade Ministry data, Iranian producers also exported over 3.01 million tons of steel products including sheets, rebars, studs, corners, beams in the mentioned period to register a 14-percent rise as well, IRNA reported.

Based on the mentioned data, steel ingot output in the previous year’s same period stood at 5.6 million tons, while the production of steel products was 2.64 million tons.

The export of sponge iron also increased by 20 percent during this 11-month period to reach 985,000 tons from 819,000 tons in the previous year’s same 11 months.

As reported, the import of steel products and ingots in the mentioned 11 months were 650,000 tons and 5,000 tons, respectively.

The imports of steel products fell 23 percent compared to the same period last year when Iran imported 847,000 tons of products, while the imports of ingots didn’t change and stood at 5,000 tons.

The Iranian Steel industry has been constantly developing over the past years against all the pressures and obstacles created by outside forces like the U.S. sanctions and the coronavirus outbreak that has severely affected the performance of the world’s top producers.

The country is expected to climb to seventh place among the world’s top steel producers by the Iranian calendar year 1404 (March 2025).

The production capacity of the country's steel chain increased from 123 million tons in the Iranian calendar year 1392 (ended in March 2014) to 230 million tons in the previous year (ended on March 20).

Based on the latest report released by the World Steel Association (WSA), Iran has maintained its place as the world’s 10th biggest steel producer during January-October, 2021.

Production of crude steel in Iran reached 22.4 million tons during the mentioned time span to register a 5.7-percent decline year on year, the report said.

EF/MA

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