• Sun / 13 September 2020 / 15:58
  • Category: Economy
  • News Code: 99062317532
  • Journalist : 71477

Iran steel export hits 1.7m tons

Iran steel export hits 1.7m tons

Tehran (ISNA) - The total exports of Iran's largest steel mills companies, rose up to 1.7 million tons over the past five months of current Iranian year (March 21- August 21).

According to statistics, Iran's large steel mills companies perfomance reveals that Iran exported 507,302 tons in August and it is expected that Iran's steel production to reach about 30m tons of which more than one million tons will be exported.

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

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025.

According to a recent report by Iranian Mines and Mining Industries Development and Renovation Organization on the development of under-construction steel production units, a total of 19.1 million tons will be added to Iran’s annual steel production capacity by the time the development of all units is complete in the fiscal 2023-24.

The addition of 19.1 million tons by the time the under-construction projects come on stream to the current capacity means the aggregate output capacity will reach 54.1 million tons by March 2024, only 900,000 tons short of the target.

Iran’s steel export capacity currently hovers around $4 billion per year, IRNA reported.

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