Mobarakeh raises production over 2 million tons

Mobarakeh raises production over 2 million tons

Iranian steelmaker Mobarakeh Steel Complex announced that it successfully reached its six-month production target of 2 million tons. The company expects to produce 4.1 million tons of raw steel by the end of the current Iranian year (ending March 20, 2006). The company stated that the production of sponge steel-sheets, cold-rolled steel sheets and galvanized steel sheet indicated a significant increase in the first six months of the Iranian fiscal year. Moreover, Mobarakeh exported 360'000 tons of steel products in the first four months of the current fiscal year. The exports were made to France, Belgium, Germany, Italy, Spain, China, India, and several countries in the Middle East. The company expects its exports to reach 1 million tons by the end of the Iranian year. Mobarakeh Steel attributes the rise in the exports to the rising steel prices in global market and the rising demand in Europe.