(MENAFN) The World Steel Association (WSA) recently reported a 2.5 percent increase in Iran's steel output for the first seven months of 2023 compared to the same period in the previous year. Despite a global decline in steel production, Iran's output reached 18.4 million tons of crude steel, securing its position as the 10th largest steel producer worldwide. This achievement highlights Iran's resilience and growth in the steel sector amid broader industry challenges.

The global steel production for the top 64 producers totaled approximately 1.107 billion tons during this period, reflecting a 0.7 percent decrease from the previous year's figures. China maintained its lead as the world's largest steel producer with over 613.7 million tons, followed by India, Japan, the U.S., Russia, South Korea, Germany, Turkey, and Brazil. These rankings underscore the competitive nature of the global steel industry and the diverse contributions of major producers.

In the previous Iranian calendar year (1402), Iran's steel production increased by 5.8 percent, totaling 29.334 million tons. This production comprised 18.452 million tons of billet and bloom, with a 9.2 percent rise, and 10.882 million tons of slabs, which saw a 0.7 percent increase. Additionally, the production of sponge iron grew by 8.5 percent compared to the previous year, reflecting the sector's robust performance and growth.

By January 2024, Iran's global standing in steel production improved to the ninth position. In 2023, Iran produced 31.1 million tons of crude steel, representing 58.4 percent of West Asia's total steel production for that year. This advancement highlights Iran's significant role in the regional and global steel markets, as reported by the WSA.

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