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Iranian Steel Producers Association released a report showing that the production of steel products showed a 13-percent growth during the 11 months as billet and bloom output stood at 12.958 million tons, while that of slab reached 9.738 million tons.

Hot-rolled coil has the lion’s share of finished steel production with 7.277 million tons, up three percent year-on-year, the data indicated.

It was followed by rebar with 7.102 million tons, up 24 percent in comparison with last year’s 11-month period.

Production of cold-rolled steel coil stood at 2.34 million tons, up 14 percent, while the production of coated coil with 1.272 million tons observed a nine-percent fall.

Earlier on January 26, the World Steel Association (WSA) announced that Iran ranked 10th among crude steel producers in the world in 2018 with 25 million tons of production, with a 17.72-percent rise compared with 2017.

Iran has pushed aside Italy, Taiwan and Ukraine to become the 10th biggest producer of crude steel in the world for the year 2018.

The WSA put the global crude steel production for the year 2018 at 1,808.6 million tons, which shows a 4.6-percent increase compared to 2017.

According to the report, Iran’s crude steel industry has remained in good shape despite the US sanctions.

Iran produced 25 million tons of crude steel in 2018.

Iran’s share of global crude steel production was 1.38 percent for the year 2018.

Based on the report, the second to ninth places went to India, Japan, the US, South Korea, Russia, Germany, Turkey and Brazil with 106.46 million tons, 104.33 million tons, 86.7 million tons, 72.46 million tons, 71.68 million tons, 42.44 million tons, 37.31 million tons and 34.73 million tons respectively.

According to the 2025 Vision Plan, Iran's total steel production capacity is to hit 55 million tons a year by 2025, with exports figure expected to reach 10-15 million tons.

In a very recent move to further increase the country’s steel production, two steel plants, a direct reduction iron (DRI) and a steel pelletizing plant, were officially inaugurated by First Vice President Es’haq Jahangiri in the Southeastern province of Kerman on January 26.

The two plants, built with more than half a billion dollars of investment, will add 1 million tons of DRI, known as sponge iron, and 2.5 million tons of iron ore pellets to Iran’s steel production.

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Deputy Governor General of North Khorasan Province Majid Pour-Isa announced the above adding that the investments will be made in mines of Garmeh city of the province.

“Chinese operation in the province’s mines will start as of the next Iranian year (to start on March 21),” he said.

There are also plans to cede land to the Chinese in Bojnord Special Economic Zone to set up plants, he said.

Some 21 types of minerals with reserves of 775 million tons were discovered in North Khorasan Province, the most important of which are bauxite, marble, limestone and plaster.

Back in late September, 2018, Chinese Foreign Minister Wang Yi, in a meeting with his Iranian counterpart Mohammad Javad Zarif in New York, called for broadening of mutual cooperation, especially in trade and economic fields.

"Beijing will maintain economic relations with Tehran and is committed to Iran nuclear Deal despite pressures from the US government," Wang said during the meeting on the sidelines of the 73rd session of the United Nations General Assembly (UNGA) annual session.

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