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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 

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