Steel Sectors Raise Production Capacity to 47mn Tons

Date: 06 May 2020 - 21:37

News ID: ۷۸۳۰۷

TEHRAN (Dispatches) - Iran’s Industry, Mine, and Trade Ministry has reported that the country’s  steel sectors production reached 47 million tons, to indicate 2 million tons surge compared to the predicted 45 million tons by the current Iranian calendar year 1399 (started on March 20).
The reports added that  there are currently 148 steel sector production units nationwide with a total production capacity expected to rise to 46 million tons by the Iranian calendar year of 1404 (starting in March 2025).
Steel sector producers manufactured 20.514 million tons of the products last year to register a 4.5-percent rise compared to the preceding year’s 19.639 million tons.
The data adds that the total capacity of Iran’s active units in addition to the feasible and probable projects stands at 65.3 million tons.
The ministry’s data indicates that if the feasible and probable projects are put into operation by the Iranian year 1404, the country would have 19.3 million tons of surplus steel sector production which can be exported.
Iran is the tenth-largest steelmaker globally and steel sectors are among the country’s most exported data-x-items to the neighboring countries.
The World Steel Association (WSA) announced that Iran’s steel production experienced a significant rise in March 2020 despite the US unilateral sanction and amid the coronavirus outbreak.
Iran’s steel production experienced a 14.1 percent rise last month (March 2020) despite the increasing pressures on the country, a WSA report said.
It noted that Iran’s steel output increased by 13.2 percent in the first three months of 2020, the association added.
Iran produced 2.250 million tons of steel products in March 2020, showing a 14.1 percent growth as compared to the corresponding period of last year.
World Steel Association added that Iran produced 1.973 million tons of steel in March 2019.
Iran produced 6.750 million tons of steel in the first three months of the current year in 2020, showing a 13.2 percent growth as compared to the last year’s corresponding period.
Iran has maintained its place as a major producer and exporter of steel in the world despite recurrent attempts by the United States to choke off the country lucrative trade of metals.