Iran steel output grows by 20% in nine months

MNA – Data released by World Steel Association shows that Iranian steelmakers produced a total of 18.52 million tons of steel in the first nine months of 2018.

The figure indicates a 20% increase compared with last year’s corresponding period, when the country’s steel output stood at 15.431 million tons. Production of iron ore and coal concentrate also observed an increase during the period.

Iranian steel mills produced 2 million tons of crude steel in September, registering a 4.3% growth year on year.

According to the report, all the 64 steelmaking countries produced a total of 1.34 billion tons of crude steel in the past nine months, which was 7.4% above the last year’s production during the similar period.

Standing after Brazil with 26.09 million tons, Iran has been ranked the 10th largest steel producer in the period.

During the past years, Iran has been highly active in the foreign steel markets, especially in the neighboring states. The country exported 998,000 tons of steel worth more than $546 million to Iraq and Afghanistan the first five months of the current fiscal (March 21-Aug. 22). The figure demonstrates a 95% and 136% growth in volume and value, respectively, compared to the corresponding period last year.

Iran envisages to reach an annual production of 55 million tons of crude steel and 20-25 million tons of exports per year by 2025.