Subsidiaries of the Iranian Mines and Mining Industries Development and Renovation Organization produced 318,091 tons of aluminum ingots during the current fiscal year’s first six months (March 21-Sept. 22) to register a 23% rise in output compared with the same period of last fiscal year, a new IMIDRO report shows.
IMIDRO is the biggest state-owned mining holding in Iran.
South Aluminum Company accounted for the highest share of total output with 137,351 tons and was followed by Iran Aluminum Company with 88,111 tons, Almahdi Aluminum Company with 74,543 tons and Iran Alumina Company with 18,086 tons.
A total of 118,845 tons of alumina powder were produced by Iran Alumina Company in the six-month period, the sole producer of alumina powder in Iran, which registered a 2% growth year-on-year when the output was 116,192 tons.
Iran Alumina Company produced 261,009 tons of bauxite (raw materials for the production of alumina powder) during the period.
According to Shahriar Taherpour, a former managing director of IMIDRO, Iran’s per capita aluminum consumption has been around 4.5 kilograms over the past 10 years against the global average of 9 kilograms.
The Iranian aluminum industry’s biggest challenge currently revolves around supplying raw materials, including alumina and petroleum coke. Not having access to raw materials due to sanctions and also having to purchase them at prices much higher than global rates are posing problems for producers.
According to the latest report by market research group IMARC, the global aluminum market exhibited moderate growth during 2015-20 and is expected to grow at a CAGR of around 5% during 2021-26.
The rising use of aluminum in different end-use industries, such as construction, packaging and automotive, across the globe, is primarily driving the aluminum market. As aluminum is extensively utilized in the manufacture of disposable cans, the escalating demand for ready-to-eat food items and beverages is further propelling the market growth. Additionally, aluminum finds wide applications in pharmaceutical packaging, as it ensures an effective barrier against contamination from moisture, light and air, ensuring a long shelf life for the product. This, in turn, is expected to fuel the aluminum market in the coming years.
