TEHRAN- Iran produced 1.98 million tons of crude steel during October 2017, with a 24.2 percent rise from 1.597 million tons in the same month last year, according to the World Steel Association (WSA).

The WSA also announced that the country’s crude steel production stood at 17.901 million tons during the first ten months of 2017, showing 20.9 percent growth from 14.804 million tons in the same period of time in the previous year, IRIB reported.

Meanwhile, Iran produced over two million tons of sponge iron in October this year, indicating 46 percent increase from October last year, and 16.4 million tons of the product during the first ten months of 2017 with 22 percent growth from the same time span in 2016.

The country’s crude steel output stood at 18.466 million tons in the past Iranian calendar year 1395 (ended on March 20), showing 11 percent rise from 16.656 million tons in 1394.

Iran exported 5.5 million tons of crude steel in the past year, with 27 percent increase from the figure of its preceding year.

Iranian Steel Manufacturers Association’s Secretary Rasoul Khalifeh-Soltan believes that while the country’s steel industry’s growth has been 5.7 percent on average in the recent years, the figure can reach 10 percent this year, given the promising condition the sector enjoys at present.

MA