Iran's Deputy Industry, Mining, and Trade Minister Saeed Zarandi announced the establishment of 10 investment holding companies in the industry and mining sectors in near future, IRIB reported recently.

Iranian steel producers exported 2.358 million tons of steel ingots and products during the first six months of the current Iranian calendar year (March 20-September 21), IRNA reported.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has been playing a significant part in the mentioned planning.

In the first nine months of this year, the group earned 65 trillion VND in revenue and over 8.84 trillion VND in after-tax profit.

Hoa Phat Steel said it shipped 62,700 tonnes of finished steel abroad in September, doubling the figure a year ago.

Together with big steel producers, smaller firms also discussed difficulties for steel billet prices at the seminar.

This trend is expected to persist in the medium term, whereby domestic steel mills will directly benefit, VDSC said.

Notably, the export volume of hot rolled steel reached over 270,000 tonnes, rising by over 330 percent from the first quarter.