Jun 26, 2020, 12:42 PM
Journalist ID: 1842
News Code: 83834501
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Iran produces half of world's sponge iron

Tehran, June 26, IRNA – Iran holds the first rank in producing sponge iron, also called direct reduced iron (DRI), with 50 percent of the whole global production in the first five months of 2020, while Iran’s sponge iron production increased by 2.7 percent in May.

According to the report by Iranian Mines and Mining Industries Development and Renovation (IMIDRO), Iran overtook India in May and stood first in the production of DRI. Iran produced 12 million tons, while India produced 11 million tons of DRI.

One of the main reasons for the success is that IMIDRO has been cooperating with the private sector in recent years for the production of DRI.

Iran produced 5.6 million tons of sponge iron in a month, which shows a 7.6 percent growth, while India’s production was 1.5 million tons, which shows a 55 percent drop.

Egypt, Mexico, and Saudi Arabia stand third to fifth in the ranking, respectively with 2.2, 2.05, 1.7 million tons in the five-month period.

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