Iran’s steel output climbs to 15.5 percent in 8 months

(MENAFN) During the initial eight months of the current Iranian calendar year (March 21-November 21), Iran experienced a notable 15.5 percent rise in steel exports compared to the corresponding period in the previous year, as reported by the Iranian Steel Producers Association (ISPA).

The value of the country's steel exports amounted to USD4.8 billion during this eight-month timeframe. Meanwhile, data from the World Steel Association (WSA) revealed that Iran's crude steel production reached 25.1 million tons in the first 10 months of 2023, marking a marginal 0.1 percent decline compared to the same period in the previous year.

The WSA's global figures for the 10-month crude steel production reached 1.567 billion tons.

The report further detailed that Iran maintained its position as the world's 10th largest steel producer during this period, with a crude steel output of 3.1 million tons in October. In the same month, the world's 71 steel producers collectively generated 150 million tons of steel, reflecting a 0.6 percent increase compared to the corresponding month in the previous year.

China, India, Japan, the U.S., and Russia secured the top positions as the world's leading steel producers in the first 10 months of 2023, according to WSA data. Despite external challenges such as U.S. sanctions and the global impact of the COVID-19 pandemic, Iran's steel industry has demonstrated consistent growth in recent years.

The WSA's previous report had indicated a 0.6 percent decrease in Iran's steel output for the first nine months of 2023 compared to the same period in 2022, with a monthly crude steel output of 2.4 million tons in September, reflecting a 12.7 percent decline from September 2022.

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