Economy, Business And Markets

MSC Output Up 14%

MSC Output  Up 14%MSC Output  Up 14%

The launch of the 1.5-million-ton/year expanded Saba Steel Plant and affiliated hot-rolled coil units in Isfahan Province has helped Iran’s largest steel producer Mobarakeh Steel Company increase its production capacity by 14%, MSC’s public relations manager said. Platts also quoted Nazemi Harandi as saying that Saba Steel Plant, which is yet to be officially inaugurated, has been producing about 1 million tons/year and is expected to reach full capacity within a year. “MSC had the capacity to produce 10.3 million tons/year of crude steel, including output from its affiliated plants, namely Hormozgan Steel Company and Saba Steel,” he added. MSC produced 4.17 million tons of crude steel over March 21-Sept. 22—the first six months of the current Iranian year—marking a rise of 14% year-on-year, according to data from state-owned Iranian Mines & Mining Industries Development & Renovation. Domestic demand for flat steel products and an antidumping probe by the European Union pushed down MSC’s exports by 60% year-on-year to 427,390 tons over April-Sept., IMIDRO data showed. The EU announced last Friday an antidumping duty of €57.50 ($68)/ton on the import of HRC from Iran.

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