Iran Steel Output Forecast for Fiscal 2019-20: 28m Tons
EghtesadOnline: Iran’s crude steel output is expected to hit 28 million tons by the end of the current Iranian year (March 19, 2020), 13.2 million tons of which have been realized so far, says Deputy Industries Minister Jafar Sarqeini.
He made the statement during the opening ceremony of the 15th International Exhibition of Mines, Mineral Industries, Mining Machinery and Equipment, Construction and Related Industries, also known as ‘Iran ConMin 2019,’ IRNA reported.
Iranian steelmakers produced a total of more than 23.26 million tons of semis and finished steel products during the first half of the current Iranian year (March 21-Sept. 22) to register a 6.43% year-on-year increase.
According to the Iranian Steel Producers Association's latest report, semi-finished steel made up 13.08 million tons of the total output, up 6% year-on-year, Financial Tribune reported.
Billet and bloom made up 7.67 million tons of semi-finished production while slab output hit 5.41 million tons to register a 13% rise and a 3% decline respectively YOY.
As for finished steel, output increased 8% YOY to 10.17 million tons.
Flat steel products had the lion's share of finished steel production with 5.26 million tons, up 7% YOY.
HRC made up 4.41 million tons of the production in this category, registering a 5% growth YOY, followed by CRC with 1.3 million tons (up 5% YOY), and coated coil with 817,000 tons (up 7% YOY).
This is while long steel products had a share of 4.9 million tons in the output of finished steel products, posting a 9% rise YOY. Rebar had a major share here with 3.95 million tons (up 8% YOY), followed by beams with 536,000 tons (up 19% YOY) and L-beam, T-beam and other types with 411,000 tons (up 2% YOY).
Sarqeini added that Iran’s steel exports are expected to reach 12 million tons by the fiscal yearend.
The official estimates that the value of exports this year will exceed $9 billion.
According to the Iranian Steel Producers Association's latest report, a total of 5.89 million tons of steel were exported from Iran during the first half of the current Iranian year (March 21-Sept. 22) to register a 40.84% year-on-year increase.
Semi-finished steel made up 4.02 million tons or more than 68.18% of the total export volume, up 43% YOY.
Billet and bloom had the lion’s share of semis exports with an aggregate of 2.96 million tons to mark an 88% YOY rise. Slab followed with 1.05 million tons, down 15% YOY.
Exports of finished steel products increased 37% YOY to reach 1.87 million tons.
Long steel products had the biggest share of finished products’ exports with a total of 1.39 million tons (74.52%) to register a 67% growth YOY.
Rebar was the main exported product in this category with 1.2 million tons, registering an 89% increase YOY, followed by L-beam, T-beam and other types with 107,000 tons (up 45% YOY) and beams with 90,000 (down 30% YOY).
Flat steel products had a 478,000-ton share in exports of finished steel products, down 10% YOY.
Hot-rolled coil grabbed the lion’s share in this category with 297,000 tons to register a decrease of 30% YOY.
Next was coated coil with 105,000 tons, up 18% YOY, and cold-rolled coil with 76,000 tons, up by 407% YOY.
Iran ConMin 2019 opened at Tehran’s International Fairground on Oct. 31.
It has been organized by Iran Mine House, IMAG GmbH and Palar Samaneh Company with the aim of finding new export markets, boosting domestic production, introducing achievements of mineral producers, improving business environment, introducing Iran’s mining capacities, channeling domestic and foreign investments in the mining sector, transferring technology and increasing competitiveness.
The event is categorized into three main sections: exploration, extraction and processing.
More than 170 domestic and 30 foreign firms from Germany, China, Russia, Poland and Turkey are showcasing their latest products and services at this expo.
The four-day event will conclude on Nov. 3. Those interested can visit the expo from 9 a.m. to 5 p.m. local time.
Nearly 138,000 people are working in Iran’s 5,800 active mines.
The country is home to 68 types of minerals with more than 60 billion tons of potential reserves, of which 40 billion tons are proven reserves.