Iran to halt steel imports

Iran has reduced exports of iron ore and increased steel production. It plans to stop steel imports, Deputy Minister for Industry Reza Fatemi-Amin says, adding that the country imports about 7 million tons of steel annually, IRIB News reports.

Iran exported only 775.361 tons of iron ore in the first 8 months this year, dropping by 27%, compared with the previous year.

23 million tons of steel and iron ore were used for domestic needs last year, head of the Association of Metal Traders Mohammed Azad notes.