News ID: 264211
Published: 1225 GMT January 11, 2020

Last three quarters of 2019 log higher crude steel output

Last three quarters of 2019 log higher crude steel output

Production of steel ingot rose four percent in Iran during the first nine months of the current Iranian calendar year (March 21-Decemebr 21, 2019).

Iran produced about 15.4 million tons of steel ingots during the last three quarters of 2019, IRNA reported.

Also, the volume of steel products in the country has increased six percent to stand at 10.141 million tons in the first nine months of this year.

According to the Iranian deputy industry, mine and trade minister, the country’s annual steel products output is set to reach 28 million tons by March 19.

Jafar Sarqini also announced that the industry ministry is planning to increase exports of steel products to 12 million tons by the end of the year (March 19).

The value of exports of such commodities is expected to reach $9 billion, the official has said.

According to recent figures released by the World Steel Association (WSA) in December 2019, Iranian steelmakers cast 23.6 million tons of crude steel during the first 11 months of 2019, marking a 5.3-percent increase compared to the corresponding figure for 2018, which was 22.4 million tons.

According to the statistics, Iran produced 2.13 million tons of crude steel in November, showing a 2.6-percent drop compared to the figure for the same month of 2018, which was 2.18 million tons.

Iran ranked 10th among global crude steel producers in 2018 with 25 million tons of production, according to figures released by WSA.

The statistics show a 17.72-percent rise for Iran compared to the figure for 2017, which was 21.24 million tons.

Iran was the 14th steelmaker of the world in 2017.

According to the Islamic Republic’s Vision Plan, the country’s total steel production capacity is to hit 55 million tons a year by 2025, with export figures expected to reach 10-15 million tons.

The World Steel Association (WSA) is one of the largest and most dynamic industry associations in the world. WSA 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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