BAKU, Azerbaijan, November 5. Iran's raw steel exports increased by 7.4 percent in value and 14.9 percent in volume during the first seven months of the current Iranian year (March 21 through October 22, 2023), compared to the same period last year, Trend reports.
Data from the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) shows that Iran exported $2.1 billion of raw steel, weighing 4.23 million tons in 7 months.
Meanwhile, Iran’s raw steel exports stood at 3.68 million tons worth $1.95 billion in the same period last Iranian year.
So, Iran exported 3.02 million tons of billet and bloom worth $1.5 billion within seven months, showing a 2.9-percent increase in value and 7.1-percent increase in volume compared to the same period previous year.
At the same time, Iran exported 1.2 million tons of slabs worth $592 million for 7 months, representing a 20.6-percent increase in value and a 40.6-percent increase in volume from the same period last year.
Furthermore, Iran exported 1.85 million tons of steel products worth $995 million over seven months, reflecting a decrease of 7 percent in value, while an increase of 4 percent in volume compared to the corresponding period last year.
Also, 1 million tons of sponge iron worth $254 million were exported from Iran in 7 months, indicating a remarkable 234 percent increase in value and a 165 percent increase in volume compared to the same period last year.
In addition, Iran exported 4.04 million tons of iron ore concentrate worth $357 million during seven months, represents a staggering 485-percent increase in value and 683-percent increase from the same period last year.
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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