Iran Ups Steel Exports by 27 Percent in 1 Year

Iran Ups Steel Exports by 27 Percent in 1 Year

Iran's private sector exported over 5.5 million tons of crude steel and related products in over past 12 months, showing a 27 percent growth as compared with last year's corresponding period, a recent data released showed.

"This figure is very important and we foresee that the growth will continue to accelerate; we can say the conditions of steel industry are promising,” Secretary of the Iranian Steel Producers Association Rasoul Khalifeh said on Tuesday.

He reiterated that the 27 percent growth in export of Iran's steel exports is very important because it will pave the way for growth in other industries.

In relevant remarks in mid-June, Iranian Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh underlined that the country would considerably increase the volume of its steel production soon.

"Iran's steel production output will approach 50 million tons by next year," Nematzadeh told reporters.

He, meantime, said that Iran currently produces 17 million tons of steel per year.

Iran is currently the largest steelmaker in the Middle East and North Africa and the world’s 14th largest producer. The country has already devised serious plans to increase its steel production capacity to 55 million tons per year from the current level of about 17 million tons per year by 2025. The country’s export capacity is also expected to rise to above 13 million tons per year.

The country is pushing ahead with the development of several major provincial steel production plans and is already forging ahead with serious plans to bring in foreign investors like Italy’s Danieli and South Korea’s POSCO to the same effect.

In March, 2015, the World Steel Association (WSA) said in a report that Iran’s steel production in January and February stood at 2.775 million tons, a 15 percent rise as compared to the corresponding period in 2014.

Based on the data released by the association, world crude steel production for the 65 countries reporting to the World Steel Association was also 128 million tons in February 2015, showing a 0.6 percent increase compared to February 2014.

An earlier report released by the WSA showed that Iran was the biggest steel producer in the Middle-East in 2014.

Iran's steel production in 2014 increased by 5.9 percent compared with the same period in 2013, and reached 16.331 million tons, the report said.

Iran is the world's 13th major steel maker stands second in the region after Turkey, followed by Egypt, Saudi Arabia, Qatar, UAE and so on.


Source: Fars

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