Annual sponge iron export increases 11%

Iran’s export of sponge iron increased 11 percent in value, and 12 percent in volume in the past Iranian calendar year 1403 (ended on March 20), as compared to the previous year, the Iranian Steel Producers Association (ISPA) reported.
As ISPA announced, Iran exported sponge iron valued at $401 million in 1403, while the figure was $361 million in 1402.

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.