Economy, Business And Markets

Major Iranian Steelmakers’ H1 Exports at 2.6m Tons

Major Iranian Steelmakers’ H1 Exports at 2.6m Tons
Major Iranian Steelmakers’ H1 Exports at 2.6m Tons
Iran is the world’s 14th largest steel producer

Iran’s seven major steel plants, namely Esfahan, Hormozgan, Iran Alloy Steel, Khorasan, Khuzestan, Mobarakeh and Oxin, exported more than 2.6 million tons of steel and steel products worth over $850.4 million during the first half of the current fiscal year (started March 20), registering a 47% and 24% growth in exports volume and value respectively.

The steel giants also exported 323,351 tons of steel valued at over $110.9 million in the Iranian month of Shahrivar (August 22–September 21), as export volume grew by 10% and value remained unchanged compared with last year’s corresponding period, IRNA reported.

With a surge of 186% and 131% in export volume and value in Shahrivar, Esfahan Steel Company registered the highest rise among all companies by shipping 90,017 tons of steel worth $28.4 million.

Khuzestan and Oxin steel plants followed in terms of monthly steel exports as the two registered an increase of 95% and 70%, as well as 36% and 9% in terms of volume and value respectively.

Iran maintained its position as the world’s 14th largest steel producer, as its mills churned out 11.4 million tons of crude steel during the eight months of 2016, indicating a 5.1% rise compared with last year’s similar period.

Iran’s January-August performance placed it between Mexico (13th) with 12.3 million tons and France (15th) with 9.3 million tons of crude steel output.

Also, Iran’s August output remained the same as in July to stand at 1.35 million tons, registering an 8.1% growth compared with the same month of the previous year.

The country aims to become the world’s sixth largest steel producer, as stated in the 20-Year Vision Plan (2005-25), which envisions the production of 55 million tons of crude steel per year by 2025.

Iranian steel mills have so far realized close to half of the crude steel production capacity target, according to Iranian Mines and Mining Industries Development and Renovation Organization.


Add new comment

Read our comment policy before posting your viewpoints