Iran to Export 10mln Tons of Steel by Yearend

Iran`s exports of steel will reach 10mln tons by the end of the current Iranian year (to end on March 19). an official said.

Iran expects its steel exports to touch 10 million tons by the yearend despite tyrannical sanctions imposed on the country by the US. Head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Khodadad Qolipour said.

He added that the exports will bring in $4 billion to $5 billion for the country which is hard pressed for money amid an aggressive US push to sink Iran’s oil revenues to zero.

Earlier this month. the Trump administration imposed new sanctions on Iran’s metals sector. targeting the construction. manufacturing. textiles. mining. aluminum. copper. iron and steel industries. Treasury Secretary Steven Mnuchin said.

A major global producer and exporter of steel. Iran has sought to increase output despite economic woes that have affected downstream sections of the industry.

IMIDRO announced in September that the country exported 633.050 tons of steel in the last local calendar month (between July 23 and August 22) which shows a 37% jump in comparison with figures from corresponding period in the last year.

The IMIDRO. Iran’s main government body active in the steel industry. said that steel exports recorded between July 23 and August 22 this year had surged to 633.050 tons. up from 462.000 tons in the same period last year.

IMIDRO said leading steel mills had shipped a total of 2.904.366 of cargoes to foreign customers in the five months ending August 23. 2019.

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