Steel ingot exports increase 25% in a year

April 23, 2022 - 10:35

TEHRAN- Iran’s export of steel ingots increased 25 percent in the past Iranian calendar year 1400 (ended on March 20), from its preceding year, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has announced.

The IMIDRO’s data put the country’s annual steel ingot exports at 7.678 million tons in the past year, and at 6.162 million tons in its previous year.

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.

Iran’s crude steel production increased by 11.8 percent in the first two months of 2022 when the production by the world’s top 64 steelmakers declined by 5.5 percent, according to the World Steel Association (WSA)’s latest report.

Iran was ranked first among the world’s top steel producers in terms of production growth, followed by India, Germany, Russia, and the United States.

Based on the report, Iran produced 5.3 million tons of crude steel during the mentioned two months.

The country’s crude steel production in February stood at 2.5 million tons which was also 3.7 percent higher than the same month in 2021.

According to the World Steel Association, similar to the past two years, Iran has maintained its 10th place among the world’s top steel producers, after countries like China, India, Japan, and Russia.

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

MA/MA

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