Economy, Business And Markets

MSC Output at 2.7m Tons in 5 Months

MSC Output  at 2.7m Tons  in 5 MonthsMSC Output  at 2.7m Tons  in 5 Months

Mobarakeh Steel Company produced 2.7 million tons of steel products during the five months to August 22, according to data published by MSC on Tehran Stock Exchange. Hot-rolled coil made up 1.58 million tons of the total figure, followed by cold-rolled coil with 632,000 tons, coated steel with 123,000 tons and “other products” with 360,000 tons. The company’s output record for the last month of the period under review stood at 577,000 tons, with sales reaching up to 540,000 tons valued at $289.33 million. MSC’s five-month sales amounted to 2.77 million tons worth 56.2 trillion rials ($1.46 billion). “The company has set the target to sell 7 million tons of flat steel this year (March 2017-18),” MSC’s head of marketing and sales, Mahmoud Akbari, said. Together with its subsidiaries, MSC is the largest flat steel producer in the Middle East and North Africa region, and Iran’s largest steelmaker, supplying 20% of the region’s steel demand and accounting for 1% of Iran’s GDP.

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