TEHRAN- Production of sponge iron in Iran hit 2.54 million tons during the first Iranian calendar month Farvardin (March 20-April 19), IRNA reported.

As reported, sponge iron output in the first month of this year shows a three percent rise compared to the figure for the first month of the previous year.

Producing 711,500 tons of sponge iron, Mobarakeh Steel Company was the top producer, accounting for 28 percent of the total monthly output.

Iran’s production of sponge iron has climbed six percent to 27.907 million tons in the past Iranian calendar year (ended on March 19), from 26.359 million tons in its preceding year, according to the data released by Iranian Steel Producers Association (ISPA).

The country’s export of sponge iron has also risen 77 percent in the past year.

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

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 the southeastern province of Kerman, 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