TEHRAN - Production of steel ingot by Iran’s 10 major producers exceeded 8.539 million tons in the first five months of the current Iranian calendar year (March 21-August 22), registering a four-percent rise from the same period last year, IRNA reported on Monday.

Production of other steel products also witnessed a nine-percent raise in the mentioned time span in comparison to the last year’s same period.

As reported, over 5.834 million tons of such products were produced in the mentioned five months.

Iran's steel production capacity is projected to reach around 40 million tons this year (ends on March 19, 2020) with crude steel production reaching between 25 and 27 million tons.

According to the World Steel Organization (WSO), Iran became the world’s tenth largest steel producer in 2018. The country is expected to become the world’s seventh biggest steel producer by 2021, reaching 55 million tons of steel capacity.

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.

Also, a recent report by the WSO says that production of crude steel in Iran rose 7.1 percent during the first quarter of 2019 compared to the same period of time in 2018.
It is while crude steel production in the world increased 4.5 percent in the first quarter of this year.

The country’s crude steel production capacity will increase by 25 million tons within the next four years, according to a deputy director in Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Ardeshir Sa’d Mohammadi 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 (ended on March 20, 2019), 25 million tons were used in the production process.

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.

EF/MA