Iran exported 5.6 million tons of steel (ingot and downstream products) worth $3.14 billion in the first seven fiscal months (March 21-Oct. 22), the latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.
Exports during the seventh fiscal month (Sept. 23-Oct. 22) exceeded 1.12 million tons worth $558 million, registering a 46% and 48% year-on-year rise in terms of weight and value respectively.
Thirty-three countries were the destinations of Iranian steel exports during the month under review, IMIDRO noted.
A total of 25.55 million tons of minerals and mining industry products worth $6.66 billion were exported in the seven months, to register a 6% decline in tonnage and a 1% decline in value compared with the similar period of last year, IMIDRO said earlier.
Steel manufacturing chain products topped the list of exports in terms of value with an aggregate of $3.14 billion, followed by copper and related products worth $848.2 million and aluminum products worth $660 million.
In terms of tonnage, cement and clinker topped the list with 7.48 million tons. The steel category came next with 5.6 million tons and was followed by pellet with 2.22 million tons.
Exports of iron ore pellets saw the biggest jump in terms of value (187.4% YOY) to reach $289.35 million, followed by ferroalloys with $56.8 million (up 69.8% YOY). Aluminum came next (up 69%) with $660.43 million.
Exports of pellets also had the highest growth in terms of weight (141.8%) with 2.22 million tons. It was followed by aluminum products (up 65.2% YOY) with 262,540 tons and granulated iron ore (up 32.4% YOY) with 93,370 tons.
The report also shows monthly exports hit $1.038 billion in the seventh month, the second highest after $1.314 billion in the third month.
Steel manufacturing chain products accounted for 47% of the total minerals and mining product exports during the period.
According to an official with the state-owned mining holding company, Iranian Mines and Mining Industries Development and Renovation Organization, Amir Sabbagh, accounted for about one-fifth of Iran’s total steel exports during the first half of the current Iranian year (March 21-Sept. 22).
“Indonesia with 15.3%, China with 15.1%, Thailand with 9.4%, Oman with 8.1%, UAE with 7.8%, Turkey with 4.6% and Ghana with 2.9% were other major steel export destinations during the six months,” he was quoted as saying by IRNA.
Sabbagh noted that steel exports had an upward trend for the second consecutive month to reach 767,000 tons in the sixth month of the current Iranian year (Aug. 23-Sept. 22) — the highest volume of steel exports in the past two years.
“Nonetheless, the global steel market prices are under the pressure of Russia and the drop in China's demand. It is possible that the government will reestablish steel export tax exemptions, which have been limited in the Budget Law of 1401 [Iranian year from March 2022 to 2023], in the form of resolutions or a special bill,” he said.
World’s 10th Biggest Crude Steel producer
Iranian steel mills produced a total of 22.2 million tons of crude steel in the six months ending September, registering a 9.8% rise compared with the corresponding period of 2021, the World Steel Association said in its latest report.
The report also shows Iran's September output hit 2.7 million tons, registering a 26.7% year-on-year rise.
In terms of world ranking, Iran maintained its global standing as the world’s 10th biggest crude steelmaker.
China was the world’s largest producer during the nine-month period with 780.8 million tons of steel output, down 3.4% YOY. It was followed by India with 93.3 million tons (up 6.4%), Japan with 67.8 million tons (down 6%), the United States with 61.5 million tons (down 4.3%), Russia with 54.6 million tons (down 6%), South Korea with 50.5 million tons (down 4.4%), Germany with 28.2 million tons (down 6%) and Turkey with 25.9 million tons (down 5.3%).
Iran is placed after Brazil (ninth) with 25.9 million tons (down 5.3% YOY).
The world’s 64 steelmakers produced 1.4 billion tons of steel in the nine months under review, down 4.3% YOY. Countries located in Asia and Oceania collectively produced 1.03 billion tons of the total.
The Middle East produced 32.3 million tons of crude steel during the period, posting an increase of 7.9% compared with the same period of last year.
Crude steel is defined as steel in its first solid (or usable) form: ingots and semi-finished products (billets, blooms and slabs). This is not to be confused with liquid steel, which is steel poured.
The World Steel Association is one of the largest and most dynamic industrial associations, with members in every major steel-producing country.
Worldsteel represents steel producers, national and regional steel industry associations and steel research institutes. Members represent around 85% of global steel production.
The 64 countries included in the Worldsteel report produce 85% of global steel. These steelmakers produced 1.91 billion tons of steel last year, up 3.6% YOY.
In 2021, countries located in Asia and Oceania collectively produced 1.38 billion tons of the total while the Middle East produced 41.2 million tons of crude steel, posting an increase of 1.2% compared with the same period of the previous year.
Iranian steel mills produced 28.5 million tons of crude steel in 2021, registering a 1.8% decline compared with 2020.
MSC is the biggest steelmaker in Iran and the Middle East and North Africa region, accounting for about half of the country's steel production.
