TEHRAN- Iran’s exports of sponge iron rose 77 percent in the past Iranian calendar year (ended on March 19) from its preceding year, IRNA reported on Monday citing the data released by Iranian Steel Producers Association (ISPA).

The data put the country’s steel exports at 942,000 tons in the past year, rising from 533,000 tons in its previous year.

Iran’s annual production of sponge iron also climbed six percent to 27.907 million tons from 26.359 million tons.

Meanwhile, sponge iron consumption in the country increased four percent to 26.965 million tons from 25.826 million tons on an annual basis.

Iran plans to put a two-million-ton capacity sponge iron project into operation in the southeastern province of Kerman in the current Iranian calendar year (began on March 20).

Three projects each with a capacity of 800,000 tons were launched in the country during the past Iranian year. The projects were put into operation in Kerman Province, South Khorasan Province in east and Chaharmahal-Bakhtiari Province in the southwest of the country.

Iran is only second to India globally in terms of the volume of sponge iron production. The country is the 10th largest steel producer in the world.

Sponge iron is a metallic product produced through the direct reduction of iron ore in the strong state. It is a substitute for scrap and therefore is mostly applicable in making steel through the secondary route. The procedure of sponge iron making aims to expel the oxygen from iron ore.

MA/MA