Economy, Business And Markets

Crude Steel Exports Rise

Crude Steel Exports RiseCrude Steel Exports Rise

Some 1.1 million tons of crude steel were exported from March to December 2015, indicating a 47% surge compared with the similar period of last year, Iranian Mines and Mining Industries Development and Renovation Organization reported on its website. Iranian steelmakers exported 1.6 million tons of steel products during the period, which registers a 6% growth compared with the preceding year. The increase in exports comes amid a long-running recession in the domestic steel and construction sectors, prompting Iranian steelmakers to set their sights overseas to maintain their profit margins.