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Iran’s steel exports hit $2.56bn in five months
The figures indicated that Iran had exported some 4.979 million metric tons (mt) of steel products in the five months to late August, Press TV reported.
Steel ingots accounted for $651 million worth of exports while rebar and steel sheet were respectively responsible for $455 million and $210 million worth of the shipments in the April-August period, showed the figures.
Iran’s customs office said the country had exported $140 million worth of steel pipes or profiles and $135 million worth of semi-finished steel products over the same period.
Iran has increasingly relied on exports of metals and mining products in recent years amid US sanctions that have caused restriction to its oil exports.
Iranian steel exports have also increased amid an ongoing war between Russia and Ukraine which has affected supplies from the two major steel producing nations.
Figures released last week by the World Steel Association showed that Iran had produced 18.4 million mt of raw steel in January-July, up 2.9% from the same period last year.
The increased steel output in Iran came despite a global fall in production and despite power cuts imposed on steel producers in the country this summer.
The figures showed that Iran had remained the 10th largest steel supplier in the world in the seven months to July.