Iran's crude steel production surpasses 28M tons in 11 months
Date
12/29/2024 9:07:24 AM
(MENAFN) Iran's crude steel production exceeded 28 million tons in the first 11 months of 2024, marking a 0.5 percent increase compared to the same period last year, as reported by the World Steel Association (WSA). This achievement has solidified Iran's position as the world's 10th largest steel producer during this timeframe, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). In November alone, Iranian steel mills produced 3.1 million tons, reflecting a modest 0.1 percent year-on-year increase.
Globally, the 71 steel-producing nations collectively manufactured 146.8 million tons of steel in November 2024, an annual rise of 0.8 percent. Iran's steel industry has seen consistent growth, with production increasing by 5.8 percent in the previous Iranian calendar year 1402 (ending March 19, 2024) compared to the preceding year, as per the Iranian Steel Producers Association (ISPA). The country produced a total of 29.334 million tons of steel during that year, comprising 18.45 million tons of billet and bloom and 10.88 million tons of slabs, with respective growth rates of 9.2 percent and 0.7 percent.
In addition to crude steel, sponge iron production in Iran also rose significantly, increasing by 8.5 percent in 1402 compared to the preceding year. This consistent growth has enhanced Iran's global standing, elevating it to the ninth-largest steel producer as of January 2024, according to WSA data.
In 2023, Iran produced 31.1 million tons of crude steel, accounting for 58.4 percent of total steel production in the West Asia region. This performance underscores the country’s prominent role in the global steel industry and its strategic importance in the regional market.
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