Economy, Business And Markets
0

Crude Steel Output Growing

Crude Steel  Output  GrowingCrude Steel  Output  Growing

The World Steel Association, known as Worldsteel, announced that Iran produced more than 5.36 million metric tons of crude steel in the first four months of 2015, indicating a 3.5% growth compared to the similar period in 2014, Tasnim News Agency reported on Saturday.

Based on the report, the country produced more than 1.27 million tons of steel in April alone, 12% down compared to the same month in 2014. The considerable growth during the four-month period comes as the global crude production is constantly decreasing. The figures are also significant when the international anti-Iran sanctions are taken into account with all the strict restrictions on the country's steel sector in terms of supplying machinery and equipment as well as raw materials.

Growth rates in producing steel were 6.6% and 6% in 2013 and 2014 respectively. In line with the National 2025 Vision Plan, Iran is seeking to enhance its crude steel output in order to produce at least 55 million tons of steel within the next decade. Recently, the country overtook France and graduated to the world's 14th producer of steel by making 16.33 million tons of crude steel per year.

 

Financialtribune.com