News ID: 320655
Published: 0152 GMT March 16, 2022

Iran’s steel exports up 17% y/y in 11 months to February

Iran’s steel exports up 17% y/y in 11 months to February

Iranian steel exports have ramped up in the 11 months to February 19, according to figures by the state-run mining and metals holding IMIDRO, as the country continues to use increased proceeds from trade of metals to offset the impact of American sanctions on its crude exports.

An IMIDRO report showed that exports of steel from Iran had reached a total of 9.652 million tons between March 2021 and February 2022, Press TV wrote.

The figure indicates an increase of over 17% compared to the previous same period, said the report, citing figures by the Iranian Steel Producers Association (ISPA).

Irans exports of steel products also increased by 14% in the 11 months to late February to a total of 3.01 million tons, showed the figures.

Sponge iron exports from Iran rose by 20% year on year over the same period to nearly 0.82 million tons, said the report.

hat comes as Iran reduced its imports of steel products by nearly 0.2 million tons between March 2021 and February this year to a total of 0.65 million tons, said IMIDRO, adding that imports of raw steel into Iran had remained flat over the period at just 0.005 million tons. 

Monthly figures released by the World Steel Association showed that Irans steel output has increased by 20.3% year on year in January to 2.8 million tons.

Iran has reported a steady growth in its mining and metals sector since the United States imposed bans on the countrys crude sales in 2018.

Rising exports of metals from Iran have continued over the past years despite Washingtons decision in 2019 to introduce a series of tough sanctions on the country's trade of metals.

 

   
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