BAKU, Azerbaijan, October 7. Iran's crude steel exports decreased by 29 percent in value and 25 percent in weight during the first six months of the current Iranian year (from March 20 through September 21, 2024) compared to the same period last year (from March 21 through September 22, 2023).
The data obtained by Trend from the country's Steel Producers Association shows that Iran's crude steel exports amounted to 2.77 million tons worth $1.3 billion during the six months. However, in the same period last year, Iran exported 3.69 million tons of crude steel worth $1.85 billion.
Meanwhile, Iran's exports of steel products amounted to 1.9 million tons worth $943 million in six months. This is a 13 percent increase in value and a 24 percent higher in weight compared to the same period last year.
Iran exported 1.54 million tons of steel products worth $831 million in the same period last year.
Furthermore, Iran's total exports of steel, pig iron, and related products amounted to 13.9 million tons worth $3.09 billion in six months. This is 16 percent less in value and two percent lower in weight compared to the same period last year. Iran's exports of steel, iron, and related products totaled 14.1 million tons worth $3.76 billion in the same period last year.
To note, Iran's steel production potential is about 40 million tons per year. Iran aims to increase steel production capacity to 55 million tons by 2025.