BAKU, Azerbaijan, July 14. Iran's crude steel exports decreased by 32.5 percent in value and 26 percent in weight terms during the 3 months of the current Iranian year (from March 20 through June 21, 2024) compared to the same period last year (from March 21 through June 21, 2023), the statistics of Iran's Steel Producers Association said, Trend reports.
Iran exported 1.57 million tons of crude steel worth $743 million in two months. However, during the same period last year, Iran's crude steel exports were about 2.12 million tons worth $1.1 billion.
Meanwhile, Iran's exports of steel products for 3 months amounted to 973,000 tons worth $480 million. Compared to the same period last year, exports of steel products for 3 months increased by 8 percent in value and 20.4 percent in weight. During the same period last year, Iran exported 809,000 tons of steel products worth $445 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.