Sponge iron export stands at 199m in 7 months

Sponge iron export stands at $199m in 7 months

TEHRAN- Iran exported sponge iron worth $199 million in the first seven months of the current Iranian calendar year (March 20-October 21), the Iranian Steel Producers Association (ISPA) reported.

As reported, the figure shows 22 percent drop from $254 million in the same period of time in the past year.

The weight of the exported product was 834,000 tons in the seven-month period of this year, dropping 17 percent from 1.005 million tons in the first seven months of the previous year.

Direct reduced iron (DRI), also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) into iron by reducing gas or elemental carbon produced from natural gas or coal. Many ores are suitable for direct reduction.

While Iran is fighting the U.S. severe sanctions on its economy, and the country’s different industrial and economic sectors have been affected by the limitations and difficulties caused by the sanctions condition, the country’s mining sector is moving forward noticeably, overcoming such barriers.

Among the mining sector’s different products, sponge iron is an outstanding example, as the production of this item is rising more and more in the country.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s largest metals and mining holding, has stated that one of the most important reasons for the increase in sponge iron production in Iran is the establishment of new sponge iron plants, adding that in recent years, with its new strategy and with the participation of the private sector, the organization has been able to launch several projects to produce sponge iron.

MA

source: tehrantimes.com