BAKU, Azerbaijan, September 19. Iran's exports of steel and metal products amounted to 12.1 million tons worth about $2.7 billion during the five months of the current Iranian year (from March 20 through August 21, 2024).
The data obtained by Trend from the country's Steel Producers Association shows that exports of steel and steel products decreased by 13 percent in value and increased by three percent in weight compared to the same period of last year (from March 21 through August 22, 2023). However, during the same period last year, Iran's exports of steel and metal products amounted to about 11.8 million tons worth about $2.12 billion.
However, Iran's crude steel exports amounted to 2.53 million tons worth about $1.2 billion during the five months. Crude steel exports decreased by 24 percent in value and 18 percent in weight terms compared to the same period last year. During the same period last year, Iran's crude steel exports totaled 3.1 million tons worth $1.57 billion.
The export of steel products for the past five months amounted to 1.55 million tons worth $768 million. Compared to the same period last year, exports of steel products for five months increased by 6 percent in value and 16 percent in weight. During the same period last year, Iran exported 1.34 million tons of steel products worth $727 million.
Moreover, Iran's sponge iron exports amounted to 508,000 tons worth $126 million during the five months. Compared to the same period last year, sponge iron exports decreased by 32 percent in value and 31 percent in weight terms. In the same period last year, Iran exported 735,000 tons of sponge iron worth $186 million.
Furthermore, Iran exported 4.72 million tons of iron ore pellets worth $398 million during five months. Exports of iron ore pellets increased by 4.3 percent in value and 25 percent in weight compared to the same period last year. In the same period last year, iron ore pellet exports totaled 3.78 million tons worth $382 million.
During the five months, Iran's iron ore concentrate exports amounted to 2.82 million tons worth $210 million. Compared to the same period last year, iron ore concentrate exports decreased by 17 percent in value and 1 percent in weight. In the same period last year, Iran exported 2.84 million tons of iron ore concentrate worth $252 million.
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.