Economy, Business And Markets

Iran Mineral, Industrial, Petrochem Output Reviewed

With a 38% growth, crude steel production marked the highest expansion during the two months ending May 21.With a 38% growth, crude steel production marked the highest expansion during the two months ending May 21.

A close study of latest data released by the Ministry of Industries, Mining and Trade on the production of 55 selected industrial, mineral and petrochemical products during the two months ending May 21 shows growth in the production of 34 products year-on-year.

According to a report in Financial Tribune’s sister newspaper Donya-e Eqtesad economic daily, from among the 13 products in the mineral production sector selected for analysis, eight of them registered growth. Notably, crude steel and steel products, sheet glass, porcelain sanitary fixtures, and tile and ceramic had the highest rise in production.

A year-on-year 38% and 35% growth in the production of crude steel (4.18 million tons) and sheet glass (133,900 tons) were also registered respectively.

Some 12,500 tons of porcelain sanitary fixtures were produced during the two months, 33% up year-on-year.

Production of steel products stood at 3.47 million tons, rising 28% YOY.

The tile and ceramic sector expanded 24%, with 35.96 million square meters having been produced over the period.

Production of glass containers, copper cathode, cement, aluminum bars and coal concentrate declined by 20.4%, 9.1%, 5.7%, 4.9% and 3% respectively.

In the industrial sector, bus and minibus production had the highest growth as 278 vehicles were produced during the two months, up by 79% YOY. It was followed by combine harvesters with 101 vehicles, up 66% YOY; tractor (2,149 units) and industrial soot (17,400 tons), up 29.5% and 22% respectively YOY; and washing machines (94,400 units), up 20% YOY.

A total of 7,700 pickup trucks were produced, which registered a 34% decline YOY.

According to the report, the removal of international sanctions against Iran over its nuclear energy program was the main reason behind growth in this category.

Refined industrial motor oil had the biggest drop in production among the 30 selected products in this category. Some 30,500 tons of motor oil were produced, down 51% YOY.

Lower demand led to a fall in carton production that reached 35,400 tons, down 25% YOY. Evaporative coolers and electric motors each showed a 24% and 16% decrease in production respectively.

In the petrochemical sector, from among the selected 13 products, 10 of them saw growth, with the top four being styrene butadiene rubber, polystyrene, polyvinyl chloride and ammonia.

Some 10,000 tons of SBR, 44,000 tons of PS, 91,000 tons of PVC and 697,000 tons of ammonia were produced during the two months, indicating a 104%, 41%, 24% and 15.4% growth respectively.

Three products, namely polybutadiene rubber, acrylonitrile butadiene styrene and polypropylene, witnessed a decline in production by 48%, 28% and 10% respectively.

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