Iran exported 675,000mt of steel in January, up by 93pc and is likely to increase its steel production to 55mn mt by 2025 of which 20-25mn mt will be earmarked for exports, as reported by Iranian media, citing the Iranian Mines & Mining Industries Development & Renovation (Imidro).
The US has sanctions in place on Iran’s iron, steel, aluminium, and copper sectors.
Iran with an annual steel production capacity of 35mn mt is likely to increase its steel exports to 11mn mt this year, up by 30pc from 8.5mn mt in the prior year.