Iran’s nine-month exports of cast iron, steel to China top $770m: IRICA

IRICA data showed that cast iron and steel exports contributed up to 15% of Iran’s exports to China during the period, IRNA reported on Saturday.

The country exported $6.4 billion worth of non-oil commodities to China during the nine months, while it imported $7 billion worth of goods from the East Asian country.

Iran exported 58.2 million tons of goods, valued at $25.1 billion, during March 20-December 20, 2020, according to IRICA statistics.

The report by IRNA added that Iranian copper plants exported $372 million worth of their products during the said period.

According to recent figures released by World Steel Association (WSA), Iranian steelmakers churned out over 29 million tons of crude steel in 2020.

The statistics show a 13.3% rise for Iran compared to the corresponding figure of 2019, which stood at 25.6 million tons.

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 exports expected to reach 10-15 million tons.