BAKU, Azerbaijan, October 4. The sponge iron production of the 10 largest sponge iron companies in Iran increased by 7 percent during the first 5 months of the current Iranian year (March 21 through September 22, 2023), compared to the same period last year, Trend reports.
Over 5 months, these companies collectively produced 14.6 million tons of sponge iron, as reflected in the data of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). In the corresponding period last year, their production was around 13.7 million tons.
Overall, Iran produced nearly 15.7 million tons of sponge iron during these five months, reflecting a 7.1 percent increase compared to the previous Iranian year (14.6 million tons).
Additionally, the country extracted 35.7 million tons of sponge iron mineral during the same period.
In the fifth month alone (July 23 through August 22, 2023), the 10 companies produced approximately 2.54 million tons of sponge iron, which is 10 percent more than the same month last year (2.3 million tons).
Reportedly, Iran's annual steel production capacity is around 40 million tons. Iran plans to increase the figure to 55 million tons by 2025.
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