News ID: 321337
Published: 0258 GMT April 29, 2022

Iran’s steel products exported to nearly 60 countries in a year: Report

Iran’s steel products exported to nearly 60 countries in a year: Report

Iranian steel exports reached 59 countries around the world over the Iranian year to March 20, 2022, said a report indicating China bought nearly a third of all shipments.

The report by IRNA said that exports of Iranian steel products reached a total of 11.687 million tons over the past calendar year.

It said steel ingot shipments had accounted for 7.678 million tons of all exports over the period, an increase of more than 24% compared to the year to March 2021.

Exports of other steel products rose by more than 20% in volume terms year on year in March to stand at 3.406 million tons, the report said, adding that sponge iron shipments increased 25% over the same period to reach 1.055 million tons. 

Figures in the report showed that China was the importer of 27.3% of Iran’s products over the year to late March.

They showed that Iraq, Indonesia, Thailand and the United Arab Emirates had bought nearly half of all Iranian steel shipments over the same period.

Iran has seen a major surge in activity in its mining and metals sector since the United States imposed sanctions on the countrys exports of crude oil nearly four years ago.

Metal exports have accounted for a major part of Irans foreign exchange revenues since 2019 when oil shipments started to decrease because of US sanctions.

Iranian steelmakers cast 6.9 million tons of crude steel in the first three months of 2022, marking a 4.4 percent drop compared to the corresponding figure for 2021, according to figures released by the World Steel Association (WSA).

Iranian steelmakers churned out over 28.5 million tons of crude steel in 2021, according to statistics released by the WSA in January.

The statistics show a 1.8 percent drop for Iran compared to the corresponding figure for 2020, which stood at 29 million tons.

According to the Islamic Republics Vision Plan, the countrys total steel production capacity is to hit 55 million tons a year by 2025, with the exports figure expected to reach 10-15 million tons.


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