(MENAFN) Bahram Sobhani, the chairman of the Iranian Steel Producers Association (ISPA), has reported a 5.1 percent increase in Iran's export of steel products during the first ten months of the current Iranian calendar year, spanning from March 21, 2023, to January 20, 2024, compared to the corresponding period in the previous year. Despite facing challenges such as U.S. sanctions and the impact of the COVID-19 pandemic, Iran's steel industry has demonstrated consistent growth and development in recent years.

The resilience of Iran's steel sector has been evident amidst external pressures and obstacles, including sanctions and the global health crisis. Despite these challenges, Iran is projected to ascend to the seventh position among the world's leading steel producers by the Iranian calendar year 1404 (March 2025), reflecting the industry's potential for further expansion and advancement.

According to the latest data released by the World Steel Association (WSA), Iran's steel production reached 3.0 million tons in November 2023, marking a notable 7.6 percent increase compared to the previous month. In the first 11 months of 2023, Iran produced 28.1 million tons of crude steel, representing a 0.6 percent increase from the same period in the previous year, as indicated by the WSA report.

Despite the challenges and fluctuations in the global steel market, Iran maintained its position as the world's 10th largest steel producer during the mentioned period, based on the data provided by the WSA. The global crude steel production for the first 11 months of 2023 amounted to 1.715 billion tons, reflecting a modest 0.5 percent increase compared to the corresponding period in 2022. 

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