Iran’s Steel Output Increases by 8% in 5 Months
Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that over 6.683 million tons of steel products were manufactured in the country from March 21 to August 22, 2023, showing an eight percent growth compared to last year’s corresponding period.
Also, major steel production firms in the country produced 6.177 million tons from March 21 to August 22, 2022, it added.
The steel products included types of pipe, rebar, iron beam, rail, steel sheet, etc.
IMIDRO noted that steel products manufactured in the Iranian month of Mordad (July-August) registered a 2% growth, reaching from 1.172 million tons in 2022 to 1.192 million tons in the current year.
Meantime, over 9.668 million tons of steel ingots were produced by major steel companies in the first five months of the current Iranian year.
IMIDRO added that 9.572 million tons of steel ingot had been produced in Iran from March 21 to August 22, 2022.
IMIDRO had announced in September that Iran’s exports of steel products showed a 140% and a 36% growth in weight and value, respectively, in the first four months of the current Persian calendar year (started on March 21) compared to the same period last year.
It added that the country’s exports of steel rose significantly in the four months to late July this year with China being responsible for more than a third of purchases.
IMIDRO figures showed that Iran had exported some $2.693 billion worth of steel in the four months to July 22, an increase of 36% compared to the same period last year.
The figures showed Iranian overseas steel shipments had risen by 140% in volume terms year on year in March-July to reach 10.923 million metric tons (mt).
China was responsible for 37% or nearly $1 billion worth of steel purchases from Iran over the four months to late July as the country took delivery of 6.711 million mt of the Iranian steel shipments over the period, said IMIDRO.
It said Iranian steel exports to Iraq had reached 1.475 million mt worth nearly $497 million over March-July, making the Arab country the smallest customer of the Iranian steel shipments over the period.
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