Economy, Business And Markets

Iran Steel Sales Up 42% in Q1

Business & Markets Desk
Steel Sales Up 42% in Q1
Steel Sales Up 42% in Q1
Iran’s largest flat steelmaker, Mobarakeh Steel Company, topped the charts in terms of sales value, as it sold 47 trillion rials ($1.1 billion) worth of steel products

Coming out of a prosperous year with rising sales and profits, Iranian steel companies had a slower growth in the first three months of the current fiscal year (March 21-June 21), but still managed to notch solid gains.
Iran’s seven major steel companies sold over 4.2 million tons of steel products worth about 100 trillion rials ($2.3 billion) during the first quarter, posting a 4.4% drop in volume and 42.7% uptick in value year-on-year.
The steelmakers produced a total of 5.49 million tons of steel products in Q1, registering an 18% growth YOY.


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