Iran’s iron and steel exports up 27% y/y in Apr-Dec
Iran has reported a significant rise in its iron and steel exports for the nine months ending in late December, as the country continues its push to diversify away from traditional oil revenues.
According to a Sunday report by the Tasnim news agency citing data from the Iranian Steel Producers Association (ISPA), export revenues from steel and iron reached $6.048 billion in April-December, a 27% increase compared to the same period in 2024.
In volume terms, overseas shipments of steel rose 43% year-on-year to 30.393 million metric tons (mt), the data showed.
Finished steel product exports totaled 3.331 million mt worth $1.542 billion, marking increases of 19% in volume and 10% in value compared to the previous year.
Exports of mild steel grew 39% in volume to 6.136 million mt, generating $2.528 billion in revenue, up 24% year-on-year.
Mild steel or semi-finished steel refers to three types of steel ingots, known as billet, bloom, and slab, that are used to make finished steel products.
Iran has seen a major increase in its steel production and exports since the country came under US sanctions in 2018.
The surge has helped the country diversify its economy and reduce its dependence on oil export revenues.
ISPA figures showed that Iran’s raw iron exports also surged in the nine months to late December, earning $1.977 billion, a nearly 50% increase, with volumes up more than 49% to 20.927 million mt.
On the production side, finished steel output rose 1% to 16.647 million mt, mild steel production increased 7.4% to 24.708 million mt, and raw iron production grew 6.72% to 140.2 million mt year on year in the April-December period.
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