BAKU, Azerbaijan, November 21. Iran's sponge iron exports decreased by 22 percent in value and 17 percent in weight during seven months of the current Iranian year (from March 20 through October 21, 2024) compared to the same period last year (from March 21 through October 22, 2023).
The data obtained by Trend from the country's Steel Producers Association shows that Iran's exports of sponge iron amounted to 834,000 tons worth $199 million during seven months.
However, during the same period last year, Iran exported 1 million tons of sponge iron worth $254 million.
Moreover, in total, Iran's exports of steel, iron, and related products amounted to 16.5 million tons worth $3.64 billion during the seven months. This is 14 percent less in value and 0.5 percent lower in weight compared to the same period last year. In the same period last year, Iran's exports of steel, iron, and related products totaled 16.6 million tons worth $4.26 billion.
To note, Iran's annual production of sponge iron exceeds 33 million tons.