According to reports, Iran is on track to launch an aluminium smelter in 2019 and be self-sufficient.

The new smelter will boost the country's output by 70%.

Construction is underway of the South Aluminium Corp (Salco) smelter, due to produce 300,000 tonnes per year in its first phase, Mehdi Karbasian, deputy minister of industry, mining and trade, told the CRU Aluminium conference in London on Tuesday.

While Iran currently produces slightly over 400,000 tonnes per year of aluminum at two plants, consumption is around 600,000 to 700,000 tonnes, said Amir Mirchi, managing director of Canadian consultancy Auryce, which is advising Salco.