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Steel Exports Rise 23%

Steel Exports Rise 23% Steel Exports Rise 23%

Over 3.2 million tons of crude steel and steel products were exported during March 2015-Jan. 2016, indicating a 23% increase compared with the corresponding period of last year, Iranian Mines and Mining Industries Development and Renovation Organization reported on its website. According to the report, the overall export figure includes 1.8 million tons of steel products and 1.3 million tons of crude steel, posting a 4% and 63% increase respectively. Low domestic demand and high amount of steel piled up in warehouses have prompted industry players to boost exports. Iran’s gross steel consumption for the 10-month period stood at 27.2 million tons, down from last year’s 29.5 million tons. The IMIDRO report added that Iranian steelmakers produced 14.9 million tons of crude steel and 13.5 million tons of steel products during the same period, which registered a 5% and 7% decline compared to last year. Imports stood at 3.3 million tons, which indicates a 3.2% decline.

Financialtribune.com