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Iron ore production increases by more than 43 pct in the first two months YoY

Iron ore concentrate had the biggest share in Iran’s mineral production during the two-month period with 6.05 mln tons, registering a 43.27% growth year-on-year

Major Iranian mining companies produced 56.44 mln tons of mineral products during the first two months of the current fiscal year (started March 21), registering a 9% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization said in its latest report.

The miners’ performance for the second month of the year ending May 21 indicates a 5.5% rise to 28.52 mln tons year-on-year.

Iran is home to 68 types of minerals with over 37 billion tons of proven and 57 billion tons of potential reserves, including large deposits of coal, iron ore, copper, lead, zinc, chromium, uranium and gold.

> Upstream Steel Sector
Iron ore concentrate had the biggest share in Iran’s mineral production during the two-month period with 6.053 mln tons, registering a 43.27% growth year-on-year. Golgohar Mining and Industrial Complex accounted for 2.14 mln tons of the total output, followed by Chadormalu Mining and Industrial Complex with 1.65 mln tons, Iran Central Iron Ore Company with 718,802 tons, Middle East Mines and Mining Industries Development Holding Company with 538,633 tons, Goharzamin Iron Ore Company with 671,367 tons and Opal Parsian Sangan with 335,579 tons.

The above companies posted double-digit production growth rates with the exception of MIDHCO, which posted a 6.32% drop YOY. Golgohar registered the highest growth with a 55.09% upsurge in output.

Production of granulated iron stood at 1.01 mln tons, down 6.34%. Iran Central Iron Ore Company was the biggest producer with 332,880 tons, followed by Jalalabad Iron Ore Company with 225,359 tons, Iran Central Plateau Iron Ore Company with 170,776 tons, Sangan Iron Ore Complex with 153,624 tons, Chadormalu with 73,050 tons, and Mishdavan Iron Ore Company with 60,289 tons.

Pellet had the second largest share with a total output of 5.16 mln tons, up 20.39% YOY. Golgohar was the largest producer with 1.76 mln tons, followed by Mobarakeh Steel Company with 1.232 mln tons, Khouzestan Steel Company with 1.038 mln tons, Chadormalu with 639,839 tons and MIDHCO with 489,496 tons.

Direct-reduced iron came next with 3.244 mln tons in output, showing a 13.52% rise YOY. Mobarakeh had the lion’s share, producing 1.35 mln tons, followed by KSC with 718,477 tons, Hormozgan Steel Company with 299,878 tons, Saba Steel Complex with 218,476 tons, South Kaveh Steel Company with 205,450 tons, Khorasan Steel Company with 173,657 tons, MIDHCO with 142,801 tons and Ghadir Iron and Steel Company with 135,286 tons.

> Downstream Steel Sector
Semi-finished steel had the fourth largest share among mineral products produced during the period. Iranian steel mills produced 2.742 mln tons of slab, bloom, billet and ingot, up 9.58% YOY.

Mobarakeh Steel Company was at the forefront with 1.501 mln tons. KSC followed with 638,044 tons, Esfahan Steel Company with 346,066 tons, Khorasan Steel Company with 92,149 tons, Iran Alloy Steel Company with 75,251 tons, South Kaveh Steel Company with 70,826 tons and Iran National Steel Industries Group with 18,295 tons.

A total of 1.73 mln tons of steel products, including hot- and cold-rolled coils, rebar, beams, pipes, wide and galvanized sheets were produced during the two months, up 7.13% YOY.

MSC and its subsidiary Saba Steel had the largest share of production with 1.017 mln tons, followed by ESCO with 344,435 tons, Oxin Steel Company with 110,158 tons, Khorasan Steel Company with 78,875 tons, IASCO with 49,038 tons, INSIG with 47,244 tons, Chaharmahal-Bakhtiari Automotive Sheet Company with 37,684 tons, Ahwaz Rolling and Pipe Mills Company with 31,253 tons and Azarbaijan Steel Company with 15,032 tons.

Source: Financial Tribune

Steel Track Inc.

Jun 12, 2017 12:47
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