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  • 18-10-20

    Iran: Steel manufacturing rises

    (MENAFN) Manufacturing of steel products in Iran are more than 7.265 million tons for the duration of March 20th till September 21st of the present year, which is three percent more than the numbers of the same duration of the previous year. It also shows an improvement of nine percent for the month of June, when compared with its antecedent of last year, for more than 1.251 million tons of steel products have been manufactured in June of this year.

    Iran has imposed a 25 percent tax on the exports of raw minerals (specifically on iron ore) since the end of September 2019, in an attempt to stop the exports of unprocessed mineral, in order to make it more valuable, and comply with the needs of local producers for the law materials.
    The Industry Ministry is under the impression that the tax imposed will encourage the manufacturing of more processed minerals like pellets, and concentrate, while also stop the selling of raw minerals.

    According to a statement made by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran's year on year steel production is expected to increase 3.2 million tons by the end of the present calendar year, which ends the 20th of March of 2021.

    MENAFN1810202000450000ID1100974670

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