Moreover, 5,834,501 tons of steel products were manufactured in the first five months of the current year (March 21 – August 21), recording a nine percent hike as compared to the last year’s corresponding period.

According to the statistics of the Ministry of Industry, Mine and Trade, 8,055,100 tons of crude steel were produced in the first four months of the current year (March 21 – July 21), showing a 7.1 percent growth as compared to the last year’s corresponding period.

It is predicted that steel production capacity of the country will hit about 40 million tons by the yearend (March 20, 2020).

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Iran Aluminum Company, the country’s flagship producer, accounted for 30,625 tons of the total figure, indicating an increase of 2% in the two-month period. It was followed by Almahdi Aluminum Company with 5,221 tons, down 56%, and Hormozal Aluminum Company with 5,156 tons, down 73%.

Iran Alumina Company produced 38,908 tons of alumina powder during the two months, down 6%.

Alumina powder output in the month to May 21 amounted to 20,649 tons, down by 1% compared with last year’s similar period.

Iran has a current aluminum nameplate capacity of 457,000 tons per year, of which about 437,000 tons are operational, Metal Bulletin reported.

The figure is envisaged to be hiked in the coming days upon the inauguration of Jajarm Aluminum Plant, in North Khorasan province, with a production capacity of 40,000 tons per annum.

The country is planning to increase annual production to 1.5 million tons by 2025.

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Hormozgan and Saba steel production companies accounted for 50 percent of total steel ingot production share in the same period.

Statistics of Iranian Steel Producers Association (ISPA) put exports volume of steel products in 12 months of the last year at 2,987,000 tons, showing a considerable 84 percent growth as compared to the same period of last year.

According to the statistics of the Ministry of Industry, Mine and Trade, steel production capacity of the country hit 35 million tons. It is predicted that steel production capacity of the country will hit 55 million tons in 2025 Outlook Plan. Under such circumstances, at least 20 million tons of which will be exported.

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In his reaction to the limitations created by US government for exporting some metal products of the country such as steel, he stated, “under such circumstances, domestic steel producers are advised to produce steel in the country.”

To improve exports situation, the country requires revising and modifying some rules and regulations in this field, he reiterated.

Various directives have been issued at the Ministry of Industry, Mine and Trade that may create some restrictions in the exports field, the most important of which are the limitations in the customs processes, currency restrictions and also inflow of exchange rate into the country.

Elsewhere in his remarks, Sobhani emphasized the need to encourage producers in line with boosting export of their products.

He put the volume of steel exported from the country in the past year (ended March 20, 2019) at 7.5 to 8 million

With the studies made in this regard, it is expected that steel production volume will increase in the country in the current year (started March 21, 2019).

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He pointed to the sanctions imposed on the country and added, “sanctions cannot have more impact on export of mineral and industrial products of the country.”

Domestic steel production firms can compete with Chinese companies in steel market using available resources in the country optimally, he reiterated.

Despite sanctions, the country managed to export steel and mineral products in the past years.

According to the Ministry of Industry, Mine and Trade, annual steel production capacity of the country stands at 35 million tons, he emphasized.

If 15 to 16 million tons of steel is used in the country, 10 million tons of which can be exported to other countries, Sobhani stated.

Earlier, secretary of Iranian Steel Producers Association (ISPA) has said that Iranian steel is considered as the cheapest steel products in the world and Chinese companies are able to compete with Iranian side in price term.

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Billet and bloom output stood at 12.958 million tons, while that of slab reached 9.738 million tons.

Hot-rolled coil had the lion’s share of finished steel production with 7.277 million tons, up 3% year-on-year.

It was followed by rebar with 7.102 million tons, up 24% in comparison with last years 11-month period.

Production of cold-rolled coil stood at 2.34 million tons, up 14%, while the production of coated coil with 1.272 million tons observed a 9% fall.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the capacity target.

Iranian steelmakers produced 21.88 million tons of semis and 19.77 million tons of finished goods last fiscal to register a 19% and 9% YOY growth respectively. They exported 6.87 million tons of semis and 1.62 million tons of finished steel during the period, recording an 84% growth and a 10% downtick YOY respectively.

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Deputy Industry, Mines and Trade Minister in Mines and Mining Industries Jafar Sarghini announced the export of 6.5 million tons of steel in the eight months of the current Iranian calendar year in 1397 (March 21-Nov. 21), showing a considerable 18 percent growth as compared to the last year’s corresponding period.

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