Thursday 19 December 2024 - 15:40

Date: 01 November 2019 , 22:57

News ID: 7263

NEWS SERVICE: MINES and MINERALS

Steel products output to reach 28m tons by March 2020

Iran’s steel products output is going to reach 28 million tons by the end of the current Iranian calendar year, IRNA reported, quoting deputy industry, mining and trade minister as saying on Thursday.

Speaking on the sidelines of the 15th International Exhibition for Mines, Construction Machinery and Related Industry and Equipment (Iran ConMin 2019), Jafar Sarqini put the country’s steel products output in the first half of the current calendar year (March, 21-September 22) at 13.2 million tons.

According to the official, in the mentioned time span, over six million tons of such products were exported to foreign destinations.

“Industry ministry is planning to increase the exports of steel products to 12 million tons by the end of the year [calendar year which ends on March 19, 2020],” Sarqini said.

The value of the exports of such commodities is expected to reach $9 billion by yearend, the official added.

Back in August, the industry ministry released the data for steel production in the first four months of the current Iranian calendar year (March 21-July 22), which indicated that the production of such commodities increased by 11.6 percent from that of the same period of time in the past year.

According to the data, 7.204 million tons of such products were produced in the four-month period, rising from 6.453 million tons in the same time span of the previous 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).

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.

source: Tehran Times