MSC Boosts Sales by 18%

Iran’s Mobarakeh Steel Company boosted sales by 18.21% to 6.2 million tons in the last Iranian year (ended March 20, 2017), according to a Monday filing in Tehran Stock Exchange. The sales total included 4.49 million tons of hot-rolled coil, 1.29 million tons of cold-rolled coil and 284,000 tons of coated products, S&P Global Platts reported. MSC’s total nominal capacity is 10.3 million tons of finished and semi-finished products, but the filing did not include production from its affiliated semis producer Hormozgan Steel Company. The rise in sales combined with higher prices to more than triple net profit to 17.82 trillion rials ($550.46 million), the filing said.