Economy, Business And Markets

H1 Steel Production at 7m Tons

H1 Steel Production at 7m TonsH1 Steel Production at 7m Tons

A total of 7.048 million tons of crude steel were produced during the first half of the current Iranian year (March 21-September 22, 2015), indicating a 1.8% decrease compared to last year’s similar period.

Mobarakeh Steel Company accounted for 2.7 million tons of the overall figure; Khuzestan Steel Company with 1.7 million tons; Isfahan Steel Company with 1.1 million tons, Hormozgan Steel Company with 579,669 tons, Saba Steel Complex with 387,787 tons, Khorasan Steel Company with 334,436 tons, Iran Alloy Steel Company with 144,247 tons and Iran National Steel Industrial Group with 102,695 tons came next in line, Mehr News Agency reported.

Furthermore, 8.1 million tons of steel products such as billets, rebars, hot-rolled steel sheets and pipes were produced during the same period, which indicates a 7.5% decrease compared with last year’s corresponding period.

Iran’s steel output is following the global downtrend amid plummeting demand.

According to the World Steel Association’s latest report, more than 1.2 billion tons of crude steel were produced by the world’s 65 steel producing countries during the January-September period of 2015, indicating a 2.4% fall in terms of weight compared with the same nine-month period in 2014.