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Iran’s steel output reaches USD2.9B in first 6 months
(MENAFN) Iran's steel products export reached USD2.9 billion in the first half of the current Iranian calendar year (March 20-September 22), according to the Islamic Republic of Iran Customs Administration (IRICA). During this six-month period, the country exported 5.7 million tons of steel products. However, this reflects a 14 percent decrease in value and a 13 percent decline in weight compared to the same timeframe last year.
The World Steel Association (WSA) reported a 16.3 percent increase in Iran's steel production during the first quarter of 2024 compared to the previous year. In the three-month period from January to March 2024, global steel production saw a modest rise of 0.5 percent. Overall, more than 469 million tons of steel were produced worldwide in this period, with 161.2 million tons produced in March 2024 alone.
From January to March 2024, Iran produced 7.6 million tons of steel, marking a 16.3 percent growth year-on-year. In the context of global steel production, Iran ranked among the top 10 producers, alongside countries such as China, India, Japan, the United States, Russia, South Korea, Germany, Turkey, and Brazil.
In the previous Iranian calendar year (1402), which ended on March 19, Iran's steel production increased by 5.8 percent compared to the prior year, reaching a total of 29.334 million tons. This total included 18.45 million tons of billet and bloom and 10.88 million tons of slabs. Billet and bloom production rose by 9.2 percent, while slab production grew by 0.7 percent. Additionally, the production of sponge iron also saw an 8.5 percent increase over the same period. By January 2024, Iran had improved its global ranking in steel production to the ninth position, contributing to 58.4 percent of West Asia’s total steel production in 2023, according to WSA data.
The World Steel Association (WSA) reported a 16.3 percent increase in Iran's steel production during the first quarter of 2024 compared to the previous year. In the three-month period from January to March 2024, global steel production saw a modest rise of 0.5 percent. Overall, more than 469 million tons of steel were produced worldwide in this period, with 161.2 million tons produced in March 2024 alone.
From January to March 2024, Iran produced 7.6 million tons of steel, marking a 16.3 percent growth year-on-year. In the context of global steel production, Iran ranked among the top 10 producers, alongside countries such as China, India, Japan, the United States, Russia, South Korea, Germany, Turkey, and Brazil.
In the previous Iranian calendar year (1402), which ended on March 19, Iran's steel production increased by 5.8 percent compared to the prior year, reaching a total of 29.334 million tons. This total included 18.45 million tons of billet and bloom and 10.88 million tons of slabs. Billet and bloom production rose by 9.2 percent, while slab production grew by 0.7 percent. Additionally, the production of sponge iron also saw an 8.5 percent increase over the same period. By January 2024, Iran had improved its global ranking in steel production to the ninth position, contributing to 58.4 percent of West Asia’s total steel production in 2023, according to WSA data.
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