MSC Sets Record In Sponge Iron Production

Tehran, Oct 28, IRNA -- Mobarakeh Steel Company (MSC) has set a record in the monthly production of direct-reduced iron (DRI), also known as sponge iron. MSC said in a Monday statement that the company produced 594,068 tons of sponge iron during Sept. 23–Oct. 22. The company's previous record was 584,000 tons of sponge iron in one month. Mobarakeh is Iran's largest steelmaker and one of the largest industrial complexes operating in the country. Iran exported 1.26 million tons of steel in the first seven months of 2014, data from Iran Steel Producers Association showed. The bulk of Iran’s steel exports go to the Middle East and North Africa. Iran produced 10.64 million tons of crude steel in the first eight months of this year, up 6.9 percent on the same period of last year and nearly triple the 2.4 percent average global growth rate, data from the World Steel Association showed./end