NEWS
IRON and STEEL   Industry  

Iran to Produce 28 Million Tons of Steel by Yearend

A senior industrial official said that Iran is planning to produce 28 million tons of steel in the coming months despite the unilateral sanctions re-imposed by the US on the country.

“Given the indigenized technical knowhow and knowledge made in Iranian mines and mineral sector, Iran’s steel industry has been less unfazed as a result of the US sanctions imposed on the country,” Deputy Minister of Industry, Mine and Trade Khodadad Gharibpour said.

Gharibpour, also Chief Executive of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), said that the country has managed to export over six million tons of steel in the first half of the current year (March 21, 2019 to September 22, 2019).

He noted that IMIDRO has concluded separate contracts with reliable universities and academic centers of the country for indigenizing technical knowhow in mining sector, he said, adding, “For this purpose, IMIDRO has executed a number of 18 research projects in the first half of the current year, showing a twofold hike as compared to the last year’s corresponding period.”

Iran is currently among the 10 leading producers of steel in the world. International surveys have shown that the growth of steel output in Iran for the past three years has outpaced a global rate of 3.5 percent. That has come despite a direct ban imposed by Washington on the country’s trade of metals since May this year.

Back in February, Iran started the construction for a giant steel mill in the country’s Northwestern province of East Azerbaijan where a budget of 1.1 trillion rials ($26 million) had been allocated for the project by the private sector.

On January 26, the World Steel Association (WSA) announced that Iran ranked 10th among crude steel producers in the world in 2018 with 25 million tons of production, with a 17.72% rise compared with 2017.

Iran has pushed aside Italy, Taiwan and Ukraine to become the 10th biggest producer of crude steel in the world for the year 2018.

The WSA has put the global crude steel production for the year 2018 at 1,808.6 million tons (Mt), which shows a 4.6% increase compared to 2017.

According to the report, Iran’s crude steel industry has remained in good shape despite the US sanctions.

Iran produced 25.0 Mt in 2018, showing a 17.72% increase compared to 2017 (21.2 Mt).

Iran’s share of global crude steel production has been estimated at 1.38% for the year 2018.

Based on the report, the second to ninth places went to India, Japan, the US, South Korea, Russia, Germany, Turkey and Brazil with 106.46 million tons, 104.33 million tons, 86.7 million tons, 72.46 million tons, 71.68 million tons, 42.44 million tons, 37.31 million tons and 34.73 million tons respectively.

According to the Islamic Republic's Vision Plan, the country's total steel production capacity is to hit 55 million tons a year by 2025, with exports figure expected to reach 10-15 million tons.

News No: 7652
Date: 2019/12/01 - 18:45
News Source: Fars News

Steel  industrial  US  export  WSA 

Comments:

Leave a Comment:

   
   
   
 

Iran moving away from exporting raw minerals to create more added value

Deputy Iranian Industry, Mining, and Trade Minister Darioush Esmaieli says over 90 million tons of iron ore was produced in the country during the previous Iranian calendar year of which only seven percent was exported.
 

$41b of annual non-oil exports atop agenda: industry min.

Iran’s Acting Industry, Mining, and Trade Minister Hossein Modares Khiabani said the ministry has it on the agenda to export $41 billion worth of non-oil commodities in the current Iranian calendar year (March 2020-March 2021).
 

Industry, mining, trade projects worth over $5.4b inaugurated in 2 months

Some 196 industrial, mining and trade projects worth 230 trillion rials (about $5.48b) went operational throughout the country since the beginning of the current Iranian calendar year (March 20) up to June 16.
 

Tehran, Baku discuss expansion of economic ties amid coronavirus outbreak

In a recent telephone conversation, Iran’s Finance and Economic Affairs Minister Farhad Dejpasand and Azerbaijan’s Deputy Prime Minister Shahin Mustafayev have explored the ways for the expansion of bilateral economic relation between the two countries amid the coronavirus outbreak, Mehr news agency reported on Monday.
 

Projects worth over $2b inaugurated in 2nd phase of A-B-Iran program

Iranian Energy Minister Reza Ardakanian announced that projects worth 90 trillion rials (about $2.14 billion) have been already inaugurated in the water and electricity sectors of the country in the second phase of the A-B-Iran program, IRNA reported.
 

Kobe Steel turns non-standard compressor affiliate in China into subsidiary

Kobe Steel, Ltd announces that it has turned its Chinese affiliate, Wuxi Compressor Co., Ltd., into a subsidiary after acquiring additional shares in the company in April 2020. Based in Wuxi, Jiangsu Province, Wuxi Compressor manufactures designs and sells non-standard (process gas) compressors, a core component used in petroleum refining, chemical and natural gas plants.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners