TEHRAN (Dispatches) – Iran’s Ministry of Industry, Mining, and Trade has reported that the country’s production of steel ingot has reached 21,650,100 tons in the first nine months of the Iranian year (started on March 20, 2020), which shows an 8.3-percent rise compared to the same period last year.
According to the tables published, production of steel ingot was 19,986,100 tons in the same period of last year.
Iran is now the 10th biggest producer of steel in the world and is expected to produce 55 million tons and reach 7th place.
The statistics show that Iran’s steel products have increased by 9.5% in the nine months reaching from last year’s 17.530 million tons to 19.199 million tons.
The statistics also show that Iran has exported 5.6 million tons of steel products (2.179 billion dollars), 47% of which has been in ingot (billet and bloom).
According to the World Steel Association, Iran’s production of steel shows a 13% growth in the first 11 months of 2020, which is the highest in the world. The world’s average growth has been 1.3 percent.