TEHRAN - Iran exported about five million tons of steel products in the first two months of the current Iranian calendar year (March 21 to May 22, 2024), showing a 4.6 percent decrease compared to the same period last year.

The value of semi-finished steel exports has decreased by $368 million in the first two months of the current year compared to last year’s corresponding period, Mehr news agency reported.

Also, 50,000 tons of various types of steel sheets were exported from the country in the first two months of the current Iranian calendar year.

Iran exported $7.6 billion worth of steel products last calendar year ending March 19, according to figures released by the Iranian Steel Producers Association (ISPA).

The ISPA said on Saturday that the total export value of the steel supply chain rose by 18 percent, describing it as the "most important achievement" within the steel industry.

Based on the figures, the country exported an estimated 30 million metric tons of steel concentrate and pellets, a 66 percent surge from the year before.

The export volumes of medium-carbon steel and steel slabs also increased by 4.3 percent and 23 percent, respectively.

Most notably, the industry boasted a 621 percent rise (more than 7 times) in the volume of concentrate iron ore exports.

According to ISPA, production of steel in Iran increased by 5.8 percent in the previous Iranian calendar year compared to the preceding year.

According to the latest data released by the ISPA, the country’s steel production reached 29.334 million tons in the previous year.

Of the mentioned amount, 18,452,000 tons were billet and bloom and 10,882,000 tons were slabs; Billet and bloom production increased by 9.2 percent and slab production increased by 0.7 percent in the previous year.

The production of sponge iron also increased by 8.5 percent in the previous year compared to the figure for the preceding year.

Iran improved its global standing in steel production, becoming the ninth-largest producer in January 2024, according to new data released by the World Steel Association (WSA).

In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel, registering a 39.3 percent increase compared to the same month of 2023, as reported by the WSA on Monday.

The world's 71 steel-producing countries produced 148.1 million tons of steel in January 2024, indicating a 1.6 percent yearly decline.

Iran was ranked first in terms of production growth among the world’s top steel producers in the mentioned period.

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