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Iran Steel Output Growth above World Average: WSA

Service : Economy
TEHRAN, June 21 (ICANA) – Iran produced 5.583 million tons of crude steel in the first five months of 2011, which was above the world average figure, World Steel Association (WSA) reported.
Tuesday, June 21, 2011 9:22:34 PM
Iran Steel Output Growth above World Average: WSA

The amount shows 13 percent increase compared to the previous year’s figure.

 Iran’s output growth rate during the mentioned period was more than the average output figures of the world’s main producer countries such as China, India, USA, France, Germany, Italy, Spain, Russia, Ukraine, Canada, Mexico, Brazil, Japan and England.

 According to the World Steel Association, Iran was the second leading steel producer in the Middle East in 2010 after Turkey.

 Iran also ranked 7th among the Asian producers.

 Iran will become one of the world’s main steel exporters by March 2016, Commerce Minister Mehdi Ghazanfari said in May.

 Iran plans to reach the production capacity of 42 million tons per year by the end of the Fifth Five-Year Socio-Economic Development Plan (March 2016).

According to Ghazanfari, the nation’s steel production capacity is currently 19 million tons annually.

“There are 106 industrial and mineral projects, worth some $29 billion dollar, underway in different cities of the country which will be gradually inaugurated by the end of the fifth five year development plan,” he added.

Ghazanfari went on to note that 16 of these 106 projects, worth some $2 billion, will come on stream by the end of the current Iranian calendar year (March 20, 2012).

According to the latest report of the World Steel Association, Iran is the second leading steel producer in the Middle East.

The World Steel Association’s report also shows that Iran’s crude steel production increased to 3.38 million tons from January 1 to March 31.

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