Iran’s steel ingot export increases by 7.6 percent in 9 months

(MENAFN) During the first nine months of the current Iranian calendar year (March 21-December 21, 2023), the export of steel ingot from Iran witnessed a notable uptick, surging by 7.6 percent in comparison to the corresponding period in the previous year, as reported by the Iranian Steel Producers Association (ISPA).

The ISPA disclosed that Iran's steel ingot exports reached 5.621 million tons during the initial nine months of the ongoing year, marking a significant rise from the 5.224 million tons recorded in the same timeframe of the prior year. Concurrently, the production of steel ingot in Iran experienced a three percent increase during the aforementioned period, according to the association's data.

The total output of steel ingot in the country amounted to 24.492 million tons in the first nine months of the current year, compared to 23.786 million tons during the corresponding period of the previous year.

Moreover, the latest report issued by the World Steel Association (WSA) highlighted Iran's escalating steel production, reaching 3.0 million tons in November 2023, indicating a notable 7.6 percent surge compared to the preceding month's figures.

In the broader context, Iran's crude steel production for the initial 11 months of 2023 stood at 28.1 million tons, registering a modest 0.6 percent increase relative to the corresponding period in the prior year, according to the WSA report.

These figures underscore Iran's growing prominence in the global steel market, reflecting the nation's efforts to expand its steel production capacity and bolster its export capabilities amidst evolving economic and industrial landscapes.

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