Iran seven-month exports of steel products hit 4.3m tons
Iranian steelmakers exported 4.3 million tons of steel products worth about $1.6 billion during the first seven months of the current Iranian year (March 20-October 21), of which 76.8 percent pertained to billet and bloom.
According to data by the Iranian Steel Producers Association (ISPA), the country also imported 633,665 tons of steel products worth $714.6 million during the said period, IRNA reported.
Also, steel complexes of the country exported 740,000 tons of slab during the said period.
According to figures released by the World Steel Association (WSA) on Nov. 24, Iranian steelmakers produced over 23.79 million tons of crude steel during the first 10 months of 2020, marking a 12.6 percent rise compared to the figure for the same period last year, which was 21.1 million tons.
Iran produced 2.66 million tons of crude steel in October, showing a 27.9 percent increase compared to the figure for the same month in 2019, which was 2.08 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 and 15 million tons per year.
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.