Iran’s steel ingot output rises 8.3%

TEHRAN,Dec.30(MNA) - Iran produced 11.2 million tons of steel ingots during the first nine months of the current Iranian calendar year (March 20-December 20), showing 8.3 percent rise year on year. The volume of manufactured steel products exceeded 13 million tons during the 9-month period, according to the report. Iran exported over $390 million worth of steel products in the first eight months of the current Iranian calendar year, showing 12 percent rise compared to the same period in the previous year. Exports of steel ingots, however, fell by 79 percent in value and 82 percent in weight year on year. Industry, Mine, and Trade Minister Mehdi Ghazanfari has said Iran will become one of the world’s main steel exporters by March 2016. He added that despite global economic sanctions, the country’s steel output increased by 5 million tons during the past two years, reaching 17 million tons.