Iran has produced more than $4.8 billion worth of steel and iron products in the first eight months of the current calendar year (March 21 – November 22), according to a report by the Iranian Steel Producers Association (ISPA).
The ISPA report indicated that Iran’s steel production in March-November was up 15.5% compared to figures reported in last year’s corresponding period.
It added that Iran’s steel production in the time span was a new record.
According to the report, the production of iron ore concentrate, iron ore pellet, and sponge iron has registered a three-digit growth compared to the same period of last year.
The report also added that the slab exports posted a 25% year-on-year growth in the period under review.
Iran is currently the 10th biggest world steel producer among 63 members of the World Steel Association and its production capacity is expected to hit 55 million tons by March 2025 which will allow the country to become the world’s seventh biggest steel producer.