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Sunday, November 6, 2011

Iranian steel production increases significantly

Sunday, 06 Nov 2011

About 8 million tonnes of crude steel was produced in Iran during March 21st to October 22nd 2011, indicating a significant growth compared to the figure for the same period last year which was 7 million tonnes.

Based on a report released by the Industrial Development and Renovation Organization, the amount of steel produced by private companies during the period reached 702,000 tonnes showing a 53% YoY rise.

It added that Mobarakeh Steel Company, Khuzestan Steel Company, Isfahan Steel Mill produced 3.14 million tonnes, 1.969 million tonnes and 1.341 million tonnes of steel billets during the period to rank first to third in the country respectively.

About 9.672 million tonnes of steel products were manufactured during the said period, indicating a rise of 6.4% YoY.

According to the report, private companies manufactured some 30% of total steel products during the period.

Mobarakeh Steel Company produced 3.219 million tonnes, National Iranian Steel Company 1.991 million tonnes and Isfahan Steel Mill 1.558 million tonnes of steel products during the period to stand first to third in the country respectively.

According to a latest report by Iranian Mines and Mining Industries Development and Renovation Organization, the country increased export of crude steel and steel products by 64% in the first half of the current year. Iranian steel companies exported about USD 264.4 million worth of steel products during the period, while the figure for the same months last year was USD 161 million, reported IRNA. During the period, around 658,000 tonnes of steel products were exported. Export of round bar and iron beam indicated growths of 188% and 140% respectively during the period, the report added.

The main steel mills of the country are located in Isfahan and Khuzestan provinces. Major raw steel producers of the Islamic Republic include Mobarakeh Steel Mills, with approximately 47% of the market share, Khuzestan Steel Company with about 23%, Isfahan Foundry with about 20% and Iran National Steel Industries Group with approximately 10% of the market share.

(Sourced from Iran Daily)

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