TEHRAN (Iran News) – Output of sponge iron and crude steel production increased by 11 percent and eight percent respectively during the first four months of the current Iranian year (March 20-July 20, 2020), the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced on Wednesday.
According to an IMIDRO report, large companies’ chain steel production comprising concentrate, pellets, sponge iron, and crude steel has risen in the first four months of the current Iranian year by one, two, 11 and eight percent, respectively, compared to the same period last year, reported Fars News Agency.
During the mentioned period, the production of iron ore concentrates and pellets has topped 16 million tons and 14.7 million tons, respectively, and the production of sponge iron and crude steel has also exceeded 10.5 million and 7.4 million tons, respectively.
According to figures released by the World Steel Association (WSA) on July 23, Iranian steelmakers produced nearly 13.9 million tons of crude steel during the first half of 2020, marking a 10.2 percent rise compared to the figure for the same period of 2019, which was 12.6 million tons.
Iran produced 2.4 million tons of crude steel in June, showing a 5.3 percent increase compared to the figure for the same month of 2019, which was 2.3 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 tons and 15 million tons per year.
The WSA is one of the largest and most dynamic industry associations in the world. WSA 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.
- source : Iran Daily, Irannews