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NewsSteel exports rise 67% in four months

Steel exports rise 67% in four months

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Announcing this, Mahdi Karbasian, managing director of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) added that Iran also exported mine and mineral industries products worth $2.4 billion during the four-month period.

The official added that four direct-reduced iron (DRI) plant will be established in the country by mid-March 2017.

The annual capacity of sponge iron production will increase by 3.2 million tons, Karbasian said.

Mobarakeh Steel Complex has plans to raise its annual output to 7.4 million ton, said the official putting the company's current output at 5.4 million tons.

Last week, World Steel Association (WSA) announced that Iran produced 10.101 million tons of crude steel in the first seven months of the current year, indicating a growth of 4.72 percent against the figure for the same period of 2015, which was 9.645 million tons.

In July, Iran produced 1.351 million tons of crude steel showing a decline of 11.92 percent compared to the figure for June, which was 1.534 million tons, added the report.

WSA is the international trade body of the iron and steel industry. The association represents approximately 170 steel producers, including 17 of the world's 20 largest steel companies, national and regional steel industry associations and steel research institutes.

Its members account for around 85 percent of world steel production

Source: Iran-daily