BAKU, Azerbaijan, January 20. During the nine-month stretch of the current Iranian year (from March 20 through December 20, 2024), Iran's exports of iron and steel products took a hit, dropping by 14 percent in value and 2.17 percent in weight compared to the same timeframe last year (from March 21 through December 21, 2023).
The data obtained by Trend from the country's steel producers' association shows that total exports of iron and steel products amounted to 21.2 million tons worth $4.77 billion during nine months. Whereas in the same period last year, total exports of iron and steel products amounted to 21.7 million tons worth $5.56 billion.
Iran exported 4.4 million tons of crude steel worth $2 billion during the nine months. This is 26 percent less in value and 22 percent by weight compared to the same period last year. In the same period last year, Iran's crude steel exports amounted to 5.63 million tons worth $2.75 billion.
Meanwhile, 2.81 million tons of steel products worth $1.4 billion were exported from Iran during nine months. Exports of steel products increased by 7 percent in value and 13 percent in weight compared to the same period last year. In the same period last year, exports of steel products amounted to 2.49 million tons worth $1.31 billion.
Notably, Iran's steel production capacity is around 40 million tons annually.
To note, Iran's exports of non-oil products amounted to 116 million tons worth $43.1 billion during nine months of the current Iranian year. Exports of non-oil products increased by 18 percent in value and 13.8 percent in weight compared to the same period last year.