BAKU, Azerbaijan, October 27. Between March 20 and October 21, 2024, Iran saw an 11-percent decline in the value of its steel and metal product exports and a 9.6-percent drop in export volume compared to the same period in 2023 (March 21 - October 22), Trend reports.
In the last seven months, Iran exported 6.9 million tons of steel and metal products, earning $3.5 billion. Major exports included steel ingots at $876 million, rebar at $663 million, steel sheets at $221 million, semi-finished steel products at $183 million, and steel sections at $154 million, with these five items collectively making up $2.1 billion of the total export value.
Iran currently has an annual steel production capacity of around 40 million tons, with plans to increase this to 55 million tons by 2025.