Iran’s crude steel output up 62 percent

TEHRAN,March 14(MNA) - Iranian public and private steel companies produced 12.92 million tons of crude steel in the first eleven months of this calendar year, which began on March 21, 2011, showing a 62.4 percent rise on the same period last year. The companies also produced over 15.7 million tons of steel products in the aforementioned period of time, up 25.4 percent year on year. Iran exported some $454 million worth of steel products in the first eleven months of the current calendar year. The exports amounted to 638,000 tons in weigh. Crude steel output is projected to reach 55 million tons by 2025, the deputy industry, mine and trade minister has said. Vajihollah Ja’fari added that crude steel output stood at 12.7 million tons last year. Iran also produced some 16 million tons of steel products last year, he added. Iran will become one of the world’s main steel exporters by March 2016, Industry, Mine and Trade Minister Mehdi Ghazanfari said in May 2011.