Iran’s ministry of industry, on Thursday, released a report stating that the country’s steel production, including crude steel, has increased between March and November, from the same period a year ago.
Iran produced 13.55mn mt of steel products, including bars, rods, profiles, sheets and plates, an increase of 7pc compared to the March-November period in 2018, when output stood at 12.63mn mt.
Production of crude steel, including blooms, billets, and slabs, increased by 5pc in the eight-month period ending on Nov 21, to reach a total of 17.42mn mt. The production of sponge iron for the Mar-Nov period is at 18.55mn mt, up by 7pc.
The United States has sanctions in place on Iran that affect the country’s trade in metals.
Iran’s metal data suggests that sanctions have failed to affect output as the country seeks to improve its position as a major steel producer.
In 2018, Thailand received the largest share of Iran’s exports at 17pc (1.5mn mt), followed by the UAE at 16pc (1.4mn mt). The next largest export market for Iranian steel is Iraq at 13pc (1.2mn mt), followed by Indonesia at 12pc (1.1mn mt).