Economy, Domestic Economy
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Aluminum Production Set Record in 2013

Aluminum Production Set Record in 2013Aluminum Production Set Record in 2013

Iran registered the highest increase in aluminum production in the last Iranian year (March 21, 2013-March 20, 2014) when 320 million tons of aluminum ingots was produced, said a report issued by the Parliament’s Research Center.

According to the report, the figure was up 15.5% higher compared to the previous year and saw the highest jump in 9 years.

During the Fourth Five-year Economic Development Plan (2005-2009), 1,155,700 tons of the metal was produced, while the aluminum ingot output reached 915,800 tons during the first three years of the fifth plan.

Currently, Iran can annually produce 475,000 tons of aluminum ingots, among the highest in the Middle East.

Based on statistics from London Metal Exchange, 47.3 million tons of aluminum is globally produced every year out of which more than 26 million is produced in Asia. Europe produces 9.4 million tons and the Americas produce over 7.5 million tons of the product.

The parliament’s report criticizes the industry’s decision-makers for their inattention to the sector which has led to missing opportunities in the market that has enabled the Arab countries across the Persian Gulf to take control of the regional aluminum market.

Supplying the industry with sustainable energy resources, equipping the aluminum plants with modern technology, and exploration of new Bauxite reserves could help the industry overcome the current challenges, the report added.  

Financialtribune.com