Iran (IMNA) - According to a Thursday statement by the head of the Iranian Steel Producers Association, Rasul Khalifeh, the output recorded by Mobarakeh Steel Company for the calendar year to late March is worth approximately $7 billion in terms of current steel pricing in foreign markets.
According to Khalifeh, MSC's enhanced semi-finished steel production resulted in higher output in country's domestic automobile manufacturing sector, as well as the Iran's construction and packaging industries, in the year to late March.
"Such levels of enhanced output would never have been conceivable if these factories wished to count on imported steel," he was cited as saying by Donya-ye-Ma'dan, an Iranian mining and metals website.
According to World Steel Association data, Iran produced 2.7 million mt of raw steel in January, up 27.7% over the same month in 2022.
Steel companies in Iran have been reporting record output figures since mid-summer last year, following an increase in orders from European customers and a global steel shortage caused by the current situation in Ukraine.
After the United States imposed sanctions on Iran's direct oil exports in 2018, the government has taken a number of steps to grow its mining and metals sector.
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