Economy, Business And Markets

Crude Steel Production Up

Crude Steel Production UpCrude Steel Production Up

Based latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran produced more than 12.6 million metric tons of crude steel during the first three quarters of the current Iranian year (March 21-Dec. 21, 2014), registering a 6% increase compared with the similar period last year. The production of steel products during the period topped 13.18 million metric tons which was 3.6% up compared to last year’s nine-month period.

Meanwhile, the private sector steel companies produced more than 1.44 million metric tons of steel ingots over the same period, IRNA quoted the Iranian Steel Producers Association (ISPA) on Sunday.

Production soared in the last month of the nine-month period, reaching 168,200 metric tons out of the total 1,445,350 metric tons of steel ingots. The private sector companies produced 3,924,350 metric tons of different steel products during the period, over 60% of which was reinforcing bars (rebars), according to statistics provided by ISPA.

As much as 831,000 metric tons of steel sheets were also manufactured during the period, while the girder production was 291,700 metric tons, followed by 412,300 metric tons of other steel sections including corners and channels.

Iran’s 2025 Vision Plan has it that the country should annually produce 55 million metric tons of crude oil, while the current production is less than 17 million metric tons per year.