News ID: 281232
Published: 0425 GMT March 01, 2021

ISPA: 10-month steel ingot imports up 67%

ISPA: 10-month steel ingot imports up 67%

Imports of steel ingots (billet, bloom and slab) in the first 10 months of current calendar year (March 21, 2020-January 19, 2022) registered a 67 percent growth compared to same period last year, according to statistics of the Iranian Steel Producers Association (ISPA).

ISPA figures show that the country imported 5,000 tons of steel ingots in this period, Mehr News Agency reported.

The figure stood at 3,000 tons during the same time span last year.

Earlier, the Ministry of Industry, Mine and Trade had announced that Iran is almost 98 percent self-sufficient in steel industry.

According to the statistics, Iran imported 4,000 tons of steel billet and bloom during the 10-month period to January 19. The figure shows a 100 percent growth year-on-year.

The Islamic Republic of Iran is the world’s tenth largest steelmaker. The country plans to increase its steel production capacity to 55 million tons by 2025, ranking among the world’s top seven producers.

Iranian steelmakers cast over 26.3 million tons of crude steel during the first 11 months of 2020, marking a 12.7 percent rise compared to the figure for the same period last year, which was nearly 23.4 million tons.

According to the World Steel Association (WSA), Iran produced 31.9 million tons of crude steel in 2019.

The country plans increase its steel exports to between 10 million tons and 15 million tons per year by 2025.

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.


Resource: Mehr News Agency
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