TEHRAN- Iran produced 16.637 million tons of steel products in the first eight months of the current Iranian calendar year (March 21-November 21), according to the data released by Industry, Mining, and Trade Ministry.

The country’s eight-month steel products output indicates a 6.6-percent drop as compared to the same period of time in the past year.

Meanwhile, as previously announced, Iran exported about $4.5 billion worth of steel products including ingots, profiles, and sheets in the first eight months of this year, registering a 14-percent rise year on year.

According to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Ruhollah Latifi, steel products accounted for 14.5 percent of the country’s total non-oil exports during the mentioned eight months.

Latifi noted that some 11.067 million tons of various iron and steel products worth $3.735 billion were exported in the previous year, of which 2.23 million tons were iron ore and other related raw materials.

The exports of steel products in the first eight months of the current year have exceeded the total figure for the previous year by $800 million, the official noted.

The Iranian steel industry has been constantly developing over the past years against all the pressures and obstacles created by outside forces like the U.S. sanctions and the coronavirus outbreak that has severely affected the performance of the world’s top producers.

The country is expected to climb to seventh place among the world’s top steel producers by the Iranian calendar year 1404 (March 2025).

The production capacity of the country's steel chain increased from 123 million tons in the Iranian calendar year 1392 (ended in March 2014) to 230 million tons in the previous year (ended on March 20).

Based on the latest report released by the World Steel Association (WSA), Iran has maintained its place as the world’s 10th biggest steel producer during January-October, 2021.

Production of crude steel in Iran reached 22.4 million tons during the mentioned time span to register a 5.7-percent decline year on year, the report said.

MA/MA