News ID: 272438
Published: 0315 GMT August 03, 2020

Official: Steel exports account for 45% of Iran’s total mining sales

Official: Steel exports account for 45% of Iran’s total mining sales

Steel exports account for over 45 percent of the total market share of overseas sales by Iran's mining industries, announced a senior industry official.

According to the statistics by the Iranian Steel Producers Association (ISPA), steel consumption in the domestic market in 2016 hit 19.2 million tons, added Deputy Minister of Industry, Mine and Trade Khodadad Gharibpour, reported Fars News Agency.

He noted that, however, this figure decreased by 23.5 percent in the previous Iranian calendar year (which ended on March 19, 2020).

Iran produced a total of 27.2 million tons of steel last year, of which over 10 million tons were exported, the official said.

Iran is expected to achieve a growth of at least 15 percent in its annual steel production capacity, he added.

According to figures released by the World Steel Association (WSA) on July 23, Iranian companies produced nearly 13.9 million tons of crude steel during the first half of 2020, marking a 10.2 percent rise compared to the figure for the same period of 2019, which was 12.6 million tons.

According to the WSA statistics, Iran produced 2.4 million tons of crude steel in June, showing a 5.3 percent increase compared to the figure for the same month of 2019, which was 2.3 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. WSA members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers, nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.

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