News ID: 277037
Published: 0303 GMT November 20, 2020

Iran’s seven-month steel production nears 17m tons

Iran’s seven-month steel production nears 17m tons

Iranian steelmakers cast over 16.9 million tons of steel ingots (billets, blooms and slabs) during the first seven months of the current Iranian year (March 20-October 21), which marks a 6.3 percent rise compared to 15.9 million tons last year.

According to data by the Iranian Steel Producers Association (ISPA), the country also produced 12.7 million tons of steel products (iron beam, angle iron, channel beam and steel sheet) during the seven-month period, reported on Thursday.

The ISPA figures showed that more than 18.1 million tons of sponge iron was produced by Iranian steel complexes during the said period, showing an 11.4 percent increase compared to the related figure for last year, which was 16.2 million tons.

Iranian steelmakers exported more than 3.1 million tons of billets, blooms and slabs during the seven months, according to ISPA.

Also, 2.45 million tons of billets and blooms were exported by Iranian steel mills during the seven-month period, accounting for 76.8 percent export share of total steel ingots.

Steel complexes of the country exported 740,000 tons of slabs during the said period.

According to figures released by the World Steel Association (WSA) on October 24, Iranian steelmakers produced over 20.8 million tons of crude steel during the first nine months of 2020, marking a 9.3 percent rise compared to the figure for the same period last year, which was 19.05 million tons.

Iran produced 2.26 million tons of crude steel in September, showing a 2.2 percent decrease compared to the figure for the same month in 2019, which was 2.31 million tons.

Iran produced 31.9 million tons of crude steel in 2019, according to the WSA figures released in January.

The country plans to increase its annual steel production capacity to 55 million tons by 2025, with exports expected to reach between 10 million tons and 15 million tons per year.

The WSA is one of the largest and most dynamic industry associations in the world. Its members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers, with nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.

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