Economy, Business And Markets

Annual Steel Production Slightly Down

Annual Steel Production Slightly DownAnnual Steel Production Slightly Down

More than 16.7 million tons of crude steel and 15.2 million tons of steel products were manufactured in the last Iranian year (ended March 19, 2016), indicating a 0.57% and 7% decline respectively compared with the previous year, Iranian Mines and Mining Industries Development and Renovation Organization reported on its website. According to the report, the decline in global steel prices and shrinking demand for industrial material at home were the main reasons for the weaker output.