Last Year’s Crude Steel Output Up 11%

Iranian steelmakers produced 18.4 million tons of steel ingots during the previous fiscal year (March 2016-17), indicating an 11% growth compared to the year before, Iranian Steel Producers Association reported. Over 14.41 million tons of the figure were produced by the semi-privatized sector and 4.47 million tons by private mills. Iran aims to become the world’s sixth largest steelmaker as per the goals set in the 20-Year Vision Plan (2005-25), envisioning the production of 55 million tons of crude steel by the deadline. Some 60% of the goal have been realized so far.