According to recently released data by World Steel Association, Iran’s crude steel output in first eight months of CY17 (i.e Jan-Aug’17) has increased to 13.45 MnT. In the same time frame last year, country’s crude steel output stood at 11.62 MnT. Thus, crude steel output has augmented by 15.7% Y-o-Y this year.
In Aug’17, Iran’s crude steel output moved up by 15% Y-o-Y to 1.75 MnT compared to 1.52 MnT in Aug’16.
Iran produced 11.68 MnT of direct-reduced iron during the eight months, up 11.2% Y-o-Y, to remain the world’s largest producer of DRI.
During first five months of Iranian FY18 (21 Mar-22 Aug’17) Iran based steel producers exported 2.64 MnT semi-finished and finished steel products, up 12% Y-o-Y.
In CY16, Iran’s crude steel output stood at 17.9 MnT.
As per its 20 Year Vision plan, the country aims to raise its crude steel production to 55 MnT and steel exports of 20-25 MnT by 2025. Steel exports from Iran are likely to increase to 8 MnT this FY18 which was around 6 MnT last fiscal.
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