Economy, Business And Markets

Iran Becomes World’s Top DRI Producer

Iran Becomes World’s Top DRI ProducerIran Becomes World’s Top DRI Producer

Iran overtook India to become the largest producer of direct reduced iron in March, making India and Saudi Arabia the second and third largest DRI producing nations respectively.

Scrap Monster–a Canada-based news provider on recycling industry–made the announcement citing preliminary data published by World Steel Association.

The estimated DRI output by Iran during March this year was 1.29 million tons, up from 1.20 million tons a month earlier.

India and Saudi Arabia’s output stood at 1.221 and 420,000 tons respectively during the same month, both also slightly above the previous month’s figures.

WSA data also show global DRI output totaled 4.417 million tons in the third month of 2016, indicating a 6.33% rise compared to February.

DRI output (in thousand tons) by the other 11 DRI-producing countries in March 2016 is as follows: Canada (99), Trinidad & Tobago (Nil), Argentina (90), Peru (5), Venezuela (60), Egypt (219), Libya (46), South Africa (74), Qatar (200), Mexico (380) and the UAE (312).

World Steel Association’s production figures are based on data collected from 14 countries, which accounted for approximately 90% of the global DRI production in 2014.