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Iranian Steelmakers Post Strong Growth in Sales

Business & Markets Desk
Mobarakeh Steel Company topped the charts in terms of sales value, as it sold 140.68 trillion rials ($3.1 billion) worth of steel products, up 54.97% year-on-year.Mobarakeh Steel Company topped the charts in terms of sales value, as it sold 140.68 trillion rials ($3.1 billion) worth of steel products, up 54.97% year-on-year.

Major Iranian steelmakers had a good run during the first 11 months of the current fiscal year (March 21-Feb. 19), as they unanimously posted double and some even triple-digit growth in their sales value.
A large part of the growth came in Bahman, the 11th month of the year (Jan. 21-Feb. 19), as steelmakers capitalized on a devalued rial alongside improving global market conditions to boost sales. 
This is clearly evident in the disparity between output and sales volume growth compared to sales value, according to data available on Codal.ir.
The seven steel companies analyzed are all listed on either Tehran Stock Exchange or the over-the-counter exchange Iran Fara Bourse and operate on the upper echelons of the industry.

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