Steel Accounts for Almost Half of Iran Mineral Industries’ Export Share

According to an official with the Ministry of Industry, Mine and Trade, steel accounts for 45% of the total export share of mining and mineral industries. Based on the statistical tables of Iranian Steel Producers Association (ISPA), steel productions’ consumption volume in 2016 hit 19,272,000 tons but this volume decreased 23.5% last year (ended March 20, 2020). Khodadad Gharibpour, Deputy Minister of Industry, Mine and Trade, said that steel industry can yield US$4 billion worth of foreign currency for the country annually, the rate of which accounts for 40% to 45% exports share in mining and mineral industrial sector.

Presently, the Islamic Republic of Iran is ranked 10th largest steel producer in the world, he added. Some 27.2 million tons of steel were produced last year (ended March 20, 2020), he said, adding, “of total 27.2 million tons of steel produced in the country last year, over 10 million tons of which was exported to target markets.” It is expected that the country would attain at least 15% growth capacity building in steel industry, he added. - Mehr