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Iran steel output soars to 8 million tonnes in 6 months

According to the World Steel Association, Iran’s steel production in the first six months of 2014 reached 7,982 tonnes showing an eight-percent rise compared to the same period last year.

The growth comes despite the US led sanctions imposed on Iranian industries, preventing Iranian producers from importing needed equipment and raw material.

Back in 2013, the country’s annual steel production also increased 6.6% compared to that of 2012, reaching 15.4 21 million tonnes.

Iran became self sufficient in steel production in 2009. A year earlier, the Islamic Republic produced 7.5 million tonnes of Direct Reduced Iron. The country produces 13% of global DRI production and 41% of total Middle East DRI production.

The country plans to increase its annual steel output to 55 million tonnes by the end of the 2015 as part of a sweeping national development plan.

Source – Tasnim News

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