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Iran's main producer of hot pressed block iron (HBI), Saba Steel Company in the Persian Gulf, saw a significant increase in production from January to September 2024, mainly driven by strong overseas SG500W Grade C steel demand, while the company is actively promoting the integration of its value chain layout.
The data shows that the company's HBI production increased by 27% year-on-year from January to September, reaching 979000 tons. With the export advantage of metalized products, Saba Steel has achieved good results in the international market.
To further enhance competitiveness, Saba Steel SG500W Grade C steel Company in the Persian Gulf plans to add 1.76 million tons/year of HBI production capacity. According to local media Chilan, the overall progress of the project has been completed by 15%, with over 82% of the engineering part completed and approximately 44% of the equipment and material supply completed.
In addition to expanding HBI SG500W Grade C steel production capacity, Saba Steel also plans to build a thin plate and coil production facility with an annual capacity of 3 million tons, expanding into the field of high value-added products. This project reflects the company's strategic layout towards the integration of the entire industry chain, but the specific timetable has not yet been announced. The continuous expansion and product upgrades of Saba Steel in the Persian Gulf demonstrate its leading position in the Middle East market and inject new vitality into the overall development of Iran's steel industry.
