IMIDRO’s Output Rises

EghtesadOnline: Mineral companies affiliated with Iranian state mines and metals holding company, IMIDRO, produced 9.49 million tons of iron ore concentrate in the first three months of the current Iranian year (started March 21), up 37.6% year-on-year.

News ID: ۷۷۷۷۶۸

19 July 2017

Some 7.79 million tons of iron ore pellet–a 22.3% increase year-on-year–was produced in the same period, as well as 4.78 million tons of direct reduced iron, marking a 12.6% rise.

Crude steel output also increased sharply. Some 4.14 million tons of crude steel was produced by Iran’s major mills, up 11.9%.

Of the national total, Mobarakeh Steel Company produced 2.19 million tons (a 14.5% increase), Khuzestan Steel Company 944,151 tons (a 1.84% increase) and Esfahan Steel Company 529,953 tons, 14.82% less YOY, S&P Global Platts reported.

According to Financial Tribune, some 1.359 million tons of crude steel were produced in the latest Iranian month, 13.41% more than a year earlier.

Iran hopes to boost steel production capacity to 55 million tons/year by 2025 and aims to attract some $30 billion of foreign investment, according to IMIDRO Chairman Mehdi Karbasian.