Economy, Domestic Economy

Iran Steel Exports Expected to Reach 6m Tons by Yearend

Steel Exports Expected to Reach 6m Tons by YearendSteel Exports Expected to Reach 6m Tons by Yearend

Iran’s export of crude steel and steel products will reach 6 million tons by the end of the current Iranian year (March 20, 2017) to  resister a 50% rise compared to last year, the managing director of National Iranian Steel Company said.

Abdolmajid Sharifi made the statement during the Second Iran Mines and Mining Industries Summit in Tehran on Dec. 10-11.

Iran has so far exported 4.3 million tons of crude steel and products worth $1.82 billion in the eight months to Nov. 20. Iranian steel mills exported 4.1 million tons last year, ILNA reported.

The official also estimated domestic crude steel output to stand at 18 million tons by the end of 2016.

According to statistics released by World Steel Association, Iranian steelmakers produced 14.85 million tons of the industrial material in Jan.-Oct. They manufactured 16.14 million tons in 2015.

Based on the goals set in the 20-Year Vision Plan (2005-25), Iran plans to become the world’s sixth largest steel producer with 55 million tons in production capacity by the end of 2025.

According to the Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh, steel companies have so far materialized 31 million tons of the figure.

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