TEHRAN- Production of crude steel in Iran stood at 8.388 million tons during the first four months of 2019, indicating six percent rise from 7.917 million tons in the same period of time in 2018, according to the latest data released by the World Steel Association (WSA).

The WSA data put the world’s steel producers’ output at 599.857 million tons during the four-month period of this year, indicating 4.8 percent growth from the same time span of the past year.

The report released by the World Steel Association indicated that Iran has produced 2.165 million tons of crude steel in April 2019, rising 2.8 percent from 2.106 million-ton output in April 2018.

Iranian Deputy Industry, Mining and Trade Minister Jafar Sarqini announced two weeks ago that Iran will inaugurate steel projects with the capacity of at least 10 million tons during the current Iranian calendar year (ends on March 19, 2020).

Also, Ardeshir Sa’d Mohammadi, a deputy director in Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), has recently announced that the country’s crude steel production capacity will increase by 25 million tons within the next four years.

He said that through such increase in crude steel output, the required feedstock for the plants will be properly supplied.

The official further lamented that of the 35 million tons of crude steel produced in the past Iranian calendar year, 25 million tons were used in the production process.

According to WSO, Iran became the world’s tenth largest steel producer in 2018.

Iran which stood at the 13th place in 2017 could lag behind three major steel producers in the world, namely Italy, Taiwan, and Ukraine to stand at the 10th place in 2018, despite the re-imposition of sanctions by the U.S.

According to the WSO’s report, Iran produced 25 million tons of crude steel in 2018 which indicates 17.7 percent growth from 21.2 million tons in 2017.

Over 40% of crude steel produced in Iran is exported to different markets worldwide, according to IMIDRO Head Khodadad Gharibpour.

Iran is one of the top 10 mineral-rich countries where 68 types of minerals have been identified so far, including the world’s largest deposits of copper, zinc and iron ore, which are tempting international investors.

MA/MA