Iranian Steel Exports Set New Record
04/25/2016 - Iran exported a record 4.1 million metric tons of steel in the previous Persian calendar year, reports Iran's FARS News Agency.
According to the news agency, Deputy Trade Minister Mehdi Karbasian said the increase was the result of government efforts encouraging industrial exports.
"The achievement (last year's record exports) shows that Iranian producers managed to weather the steel crisis amid faltering demand in the domestic construction sector and China and Russia's dumping policies glutting the global markets," Karbasian said, according to Iran's Financial Tribune newspaper.
According to the newspaper, exports rose 4 percent over the previous year.
Iran plans to grow its domestic steelmaking capacity to 55 million metric tons annually over the next 10 years. If successful, the country would go from being the world's 14th largest producer to the sixth largest.
Earlier this year, the country signed EUR5.7 billion worth of agreements with mill builder Danieli for machinery and plants. South Korea's POSCO also recently signed a memorandum of agreement with Iran's Kohan Diar Parsian Steel to build a new mill that incorporates POSCO's FINEX ironmaking technology.
POSCO claims the technology offers significant cost advantages because it uses iron ore fines and non-coking coal. The new mill will be capable of producing 1.6 million tons annually, according to The Korea Times.
"The achievement (last year's record exports) shows that Iranian producers managed to weather the steel crisis amid faltering demand in the domestic construction sector and China and Russia's dumping policies glutting the global markets," Karbasian said, according to Iran's Financial Tribune newspaper.
According to the newspaper, exports rose 4 percent over the previous year.
Iran plans to grow its domestic steelmaking capacity to 55 million metric tons annually over the next 10 years. If successful, the country would go from being the world's 14th largest producer to the sixth largest.
Earlier this year, the country signed EUR5.7 billion worth of agreements with mill builder Danieli for machinery and plants. South Korea's POSCO also recently signed a memorandum of agreement with Iran's Kohan Diar Parsian Steel to build a new mill that incorporates POSCO's FINEX ironmaking technology.
POSCO claims the technology offers significant cost advantages because it uses iron ore fines and non-coking coal. The new mill will be capable of producing 1.6 million tons annually, according to The Korea Times.
