Steel products export up 20% in a quarter on year

Iran’s exports of steel products rose 20 percent during the first quarter of current Iranian calendar year (March 21-June 21) compared to the first quarter of the previous year, the public relations department of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced on Monday.

As reported, the country exported 758,000 tons of steel products during the three-month period of this year.

IMIDRO also put the export of steel ingots at 1.425 million tons in the first quarter of current year, falling 23 percent from 1.854 million tons in the same time span of the past year.

In a press conference on June 8, Iranian deputy industry, mining and trade minister said the ministry has taken necessary measures to maintain the country’s metal exports despite U.S. sanctions.

“We have established a special working group in the ministry which is closely assessing the situation and making necessary arrangements to mitigate the impact of U.S. sanctions,” Jafar Sarqini told the Tehran Times in the press conference.

The official noted that it is expected for the exports from the country’s mining sector to, at least, reach the last year’s $8.5 billion by the end of the current Iranian calendar year (March 2020).

Also, during a meeting with the members of Iran Steel Association on Sunday, Iranian Industry, Mining and Trade Minister Reza Rahmani said the country has achieved a proper self-reliance in steel industry.

Steel industry is one of the industries in which some good investment has been made and today it has become a production advantage, the minister further underscored.

Iran’s annual steel production is planned to reach 45 million tons by the Iranian calendar year 1400 (March 2021-March 2022), according to Sarqini.

Referring to the sanctions, the official said, “All those who have imposed sanctions against Iran aim to destroy he country’s production capabilities; therefore, the Ministry of Industry, Mining and Trade prefer that the steel producers focus first on production and in this due development projects with the physical progress of over 70 percent will also help achieve this target.”

On June 15, the official had announced that the country’s annual crude steel production is planned to reach 30 million tons in the current Iranian calendar year.

He put Iran’s crude steel production at 25 million tons in the past year.

Sarqini had also announced that Iran will inaugurate steel projects with the capacity of at least 10 million tons during the current Iranian calendar year.

source: Tehran Times