(Minews) - The World Steel Association has named the Islamic Republic of Iran as the world’s second biggest producer of direct reduced iron (DRI) in the first two months of the year.
According to the latest figures released by the international trade body, Iran produced 1.867 million tons of direct reduced iron in the two-month period. Iranian steel mills produced 801,000 tons of DRI in January, and 1,066 million tons more in the following month.
India stood on the top of the list with a production of 2.496 million tons of DRI in the first two months of the year. Asia's third-largest economy produced 1.311 million tons of direct reduced iron in January, and 1.185 million tons in February.
Direct-reduced iron, also called sponge iron, is produced from direct reduction of iron ore (in the form of lumps, pellets or fines) by a reducing gas produced from natural gas or coal. This process of reducing the iron ore in solid form by reducing gases is called direct reduction.
Iran plans to increase its annual steel output to 55 million tons by the end of the Fifth Five-Year Development Plan (March 2010-March 2015).
Iran is reportedly the biggest steel producer in the Middle East and North Africa. The country’s main steel mills are located in Isfahan and Khuzestan provinces.
Iran's major raw steel producers are the Mobarakeh Steel Mill, with approximately 47 percent of the market share, the Khuzestan Steel Company, with about 23 percent of the market share, the Isfahan Iron Smelting Complex, with a market share of 20 percent, and the Iran National Steel Industries Group, with approximately 10 percent of the market share.
