Iran Sponge Iron Exports Witness 77% Y-o-Y Growth

Iran’s sponge iron exports surged by 77% Y-o-Y in the past Iranian calendar year that ended on 19 Mar’20, as per the data by Iranian Steel Producers Association. Iran exported 942,000 MT sponge iron in the past year as compared to 533,000 MT in the previous year. Iran’s annual sponge iron production was recorded 27.9 MnT, up by 6% Y-o-Y. Upcoming sponge capacities are likely to boost production in this year.