Iran’s private sector steel production rising despite world decline

Tehran, June 11, IRNA – Iranian private sector steel industry is experiencing a boom contrary to international downturn, a report said.

Based on a report by Society of Iran Steel Producers, the performance of private sector steel industries rose by 14.5 percent during the first month of the current Iranian year (started March 20) compared to the same period last year.

This is despite the fact that the world steel producers are suffering from a slump due to poor market demands.

Iranian private sector steel units produced a total of 491,900 tons during the period.

Managing Director of Isfahan Mobarakeh Steel Complex Bahram Sobhani said on Saturday that Joint Comprehensive Plan of Action clears the way for development plans of the steel industry to produce 11 million tons sponge iron to rank first in the global scene.

He told IRNA that upon statistics, Iran total steel output in the first quarter of the year 2016 was 3.7 million tons.

Iran, India and Saudi Arabia took the three world ranks respectively in producing sponge iron.

He said that Iran ranks 14th among the world steel producers and that Iran could produce 16.5 million tons of steel last year.

By IRNA