Iran eying USD 9 billion worth of steel exports until March

2019-11-05

Nov. 5, 2019 - Iranian authorities as saying that the country would exceed a target set for exports of steel until March next year despite American sanctions that have specifically targeted the metals sector. Mr Ja’afar Serqini, a deputy to Iran’s minister of industries, said that a target of USD 9 billion worth of steel exports set for the end of the current Iranian calendar year would be well within the reach of the country as production in the first two quarters had exceeded the government estimates. Mr Serqini said production between late March and late September topped 13.2 million tonnes and that output would reach 28 million tonnes in March 2020.

Mr Serqini said Iran exported a total of 6 million tonnes of steel until late September, adding that annual exports would reach 12 million tonnes until the end of the current Iranian year.

The official insisted that the American sanctions had caused Iran’s metals and mining sector to thrive and to become a staple part of the country's economy.