Iron and Steel Industry Losing Ground

In the ten months of this year the volume of production of basic iron and steel products in Azerbaijan decreased. Imports increased parallel to that, according to official sources.

According to the State Statistics Committee, in January-October production of steel castings decreased 9.9% and amounted to 234.2 thousand tons. It produced 184.4 thousand tons of rebar, which is 5.6% less than in the comparable period in 2014. During this period also decreased rolled steel tubes (29.8 thousand tons; -1.6%).

According to the State Customs Committee, in January-October there were imported ferrous metals and products made from ferrous metal for $ 1 billion 316.1 million. At the same time, imports increased by 70.2%, while the share of ferrous metals in imports exceeded 17%.

Azerbaijani enterprises exported products made from ferrous metal, totaling $ 28.3 million, 22.8% less than in the same period last year.

As Turan was told in the State Statistics Committee, in the first nine months of this year there was imported 212.5 thousand tons of steel reinforcement for a total declared value of $ 100.5 million. The local manufacturers exported products of steel industry totaling $ 33.5 million.

The main metallurgical enterprise in Azerbaijan is LLC Baku Steel Company. The country has at least three companies for the production of steel pipes. ----08B