Steel production in Iran rises 0.5 percent annually in 11 months to 28M mt
Date
12/29/2024 2:41:19 AM
(MENAFN) Iran produced 28 million metric tons (mt) of crude steel from January to November 2024, maintaining its position as the 10th largest steel supplier in the world, according to data from the World Steel Association (worldsteel). This consistent production underscores Iran’s strong foothold in the global steel industry, despite the challenges faced by the sector globally.
The World Steel Association’s report, cited in a Saturday update by Iran’s state-run metals and mining company IMIDRO, revealed a 0.5 percent increase in Iran’s steel output compared to the same period last year. This year-on-year growth indicates the country’s continued efforts to enhance its steel production capacity, despite fluctuating demand and economic pressures.
In November 2024, Iran’s crude steel production reached 3.1 million metric tons, marking a slight increase of 0.1 percent compared to the same month in the previous year. This growth, while modest, demonstrates Iran’s resilience in maintaining steady production levels. Despite challenges faced by the steel industry, including global supply chain disruptions and changing demand, Iran’s steel sector has managed to remain stable and adaptive, ensuring it continues to meet domestic and international demand.
Global steel output, on the other hand, experienced a decline of 1.4 percent year on year in November 2024, according to worldsteel data. This global downturn highlights Iran's relative success in maintaining or slightly increasing its steel production output while many other steel-producing countries faced production cuts.
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