TEHRAN (Iran News) – Total exports of Iran’s largest steel mill companies hit 1.7 million tons in the first five months of the current Iranian year (March 20- August 21, 2020).
According to a report by IRNA, Iran exports of steel hit 507,302 tons in the month to August 21, and the country’s steel production is expected to reach 33 million tons.
The Iranian annual steel production is planned to amount to 45 million tons by the year ending March 20, 2022, the report added.
According to figures released by the World Steel Association (WSA) on August 24, Iranian steelmakers produced over 16.2 million tons of crude steel during the first seven months of 2020, marking a 10.7 percent rise compared to the figure for the same period in 2019, which was 14.6 million tons.
Iran produced 2.3 million tons of crude steel in July, showing a 14.3 percent increase compared to the figure for the same month of 2019, which was 2.04 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. 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.
- source : Iran Daily
