Economy, Business And Markets

ESCO Crude Steel Output Tops 500K Tons

ESCO Crude Steel Output Tops 500K TonsESCO Crude Steel Output Tops 500K Tons

Esfahan Steel Company, Iran’s largest producer of constructional steel products, says it produced 522,814 tons of crude steel in the first three months of the current Iranian year (started March 21), slightly higher year-on-year.

Some 361,307 tons of both finished and semi-finished products, including 258,713 tons of billet, were exported by ESCO in the three months, up 88% YOY, S&P Global Platts reported.

ESCO’s plan is to raise its exports to 1 million tons in the current Iranian year, Platts learned from Iran’s mines and metal state holding company, IMIDRO.

“It recently announced holding talks with two European companies for long-term cooperation on the production of pig iron for the European market,” the company’s managing director, Ahmad Sadeqi, was quoted as saying by Iranian website Borse24.

“ESCO was interested in signing a five-year contract and negotiations were ongoing,” he added.

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