Production of direct-reduced iron (DRI), also known as sponge iron, increased by nine percent during the nine months to December 20, 2020, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced on Monday.
According to the IMIDRO report, Iranian steelmakers produced over 23.3 million tons of sponge iron, while the figure for the corresponding period last year was 21.4 million tons, IRNA reported.
It also added that 2.6 million tons of DRI was produced during the month to December 20, 2020, marking a five percent rise compared to the output last year, which was 2.5 million tons.
According to recent figures released by the World Steel Association (WSA), Iranian steelmakers cast over 26.3 million tons of crude steel during the 11 months of 2020, marking a 12.7 percent rise compared to the figure for the same period last year, which was nearly 23.4 million tons.
Iran produced more than 2.5 million tons of crude steel in November, showing a 14.1 percent increase compared to the figure for the same month in 2019, which was 2.2 million tons.
Iran produced 31.9 million tons of crude steel in 2019, according to the WSA figures released in January.
The country plans to increase its annual steel production capacity to 55 million tons by 2025, with exports expected to reach between 10 million tons and 15 million tons per year.
The WSA is one of the largest and most dynamic industry associations in the world. Its members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers, with nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.