TEHRAN (Iran News) – Monthly sponge iron export rises 250% year on year. The export of Iran’s sponge iron increased 250 percent during the first month of the current Iranian calendar year (March 21-April 20) as compared to the first month of the previous year, Iranian Industry, Mining and Trade Ministry announced.
As reported, Iran exported 70,000 tons of the mentioned product in the first month of this year.
The ministry announced that like the first month of the past year there was no sponge iron import in the mentioned month of the present year.
Meanwhile, sponge iron production increased by 15 percent in the first month of the current year, as compared to the same month of the previous year.
Iran produced 3.026 million tons of the product in the first month of this year, while the figure was 2.626 million tons in the first month of the last year.
Direct reduced iron (DRI), also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) into iron by a reducing gas or elemental carbon produced from natural gas or coal. Many ores are suitable for direct reduction.
While Iran is fighting the U.S. severe sanctions on its economy, and the country’s different industrial and economic sectors have been affected by the limitations and difficulties caused by the sanctions condition, the country’s mining sector is moving forward noticeably, overcoming such barriers.
Among the mining sector’s different products, sponge iron is an outstanding example, as the production of this item is rising more and more in the country.
Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s largest metals and mining holding, has stated that one of the most important reasons for the increase in sponge iron production in Iran is the establishment of new sponge iron plants, adding that in recent years, with its new strategy and with the participation of the private sector, the organization has been able to launch several projects to produce sponge iron.