BAKU, Azerbaijan, June 27. Iran's crude steel exports decreased by 48.8 percent in value and 42.4 percent in weight terms during the 2 months of the current Iranian year (from March 20 through May 20, 2024) compared to the same period last year (from March 21 through May 2023), the statistics of Iran's Steel Producers Association said, Trend reports.
Iran exported 815,000 tons of crude steel worth $386 million in two months. However, during the same period last year, Iran's crude steel exports were about 1.42 million tons worth $754 million.
Meanwhile, Iran's exports of steel products for 2 months amounted to 649,000 tons worth $319 million. Compared to the same period last year, exports of steel products for 2 months increased by 12.1 percent in value and 28.7 percent in weight. During the same period last year, Iran exported 504,000 tons of steel products worth $284 million.
Furthermore, Iran exported about 7.84 million tons of crude steel worth about $3.58 billion in the last Iranian year (from March 21, 2023 through March 19, 2024). Iran's crude steel exports increased by 4.3 percent in value and 6.3 percent in weight compared to the previous year (from March 21, 2022 through March 20, 2023).
To note, Iran's steel production potential is about 40 million tons per year. Iran plans to increase its steel production capacity to 55 million tons by 2025.
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