Group Steel
Iran increases crude steel product
(Minews) - During the first two months of the current year (March/April) Iran’s crude steel production increased by 1,663 tons over the same period last year while in the first four months of 2015 about 32 world countries reduced their output, announced Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

The announcement said that during the first two months of the current calendar year, Iranian steel manufacturers produced 2,884,513 tons of crude steel which shows an increase of 1,663 tons over the last year.

According to the report, the crude steel production in the country in the month of Ordibehest (April/May) amounted to 1,457,508 tons, up by 2% as compared to the same period last year.

Global steel production in the first four months of 2015 dropped by 1.7% and about 32 countries, including China, Qatar, Saudi Arabia, Argentine, Mexico, Canada, the US, Turkey, Germany and Cuba reduced their raw steel production.

China’s supportive export-import policies (dumping and anti-dumping), low demand in many economic sectors such as housing, reduced iron ore and coal prices, fall in steel price and world market stagnation are among reasons for reduced world production.

Based on released statistics, three major steel complexes in the country - Mobarakeh, Khuzestan and Steel Mill - produced close to 70% of the country’s crude steel gaining about 36%, over 20% and about 14% of the shares.

Iran is the first steel producer in the Middle East and 14th in the world and it is expected that in 2025 production capacity of this sector will increase to 55 million tons.
Publish date : Friday 19 June 2015 11:25
Story Code: 25405
Source : IRNA