Iran’s steel output down 20.7% y/y in April at 2.2 mln tons: Worldsteel

Iran’s steel output down 20.7% y/y in April at 2.2 mln tons: Worldsteel

Iran’s production of steel dropped by 20.7% year on year in April, according to figures by the World Steel Association (worldsteel ) published in the local media and amid a continued decline in the global steel output that has been caused by lower manufacturing activity in China.

Worldsteel figures published in a Sunday report by the Fars news agency showed that total production at Iranian steel mills in April had reached 2.2 million metric tons (mt).

The figures showed that Iranian crude steel output over the four months to April had totaled at 9.1 million mt, down 8.9% against the similar period in 2021.

Iran remained the 10th largest steel producer in the world, trailing Brazil at output figures of 2.9 million mt for April and 11.6 million mt for the January-April period.

Global output of crude steel continued to decline over April as largest supplier China churned out 92.8 million mt, down 5.2% compared to the similar month last year, showed the worldsteel figures.

The figures showed that other major producers, including Japan, the United States, South Korea and Germany had also reported declines in April steel production although second largest supplier India, along with Russia and Turkey saw their output increase.

Iran had reported increased exports of steel over the calendar year to March. Government figures showed that shipments had increased by nearly 20% compared to the year before.

The country has seen a major surge in activity in its mining and metals sector since the United States imposed sanctions on the country’s exports of crude oil nearly four years ago.

Metals exports have accounted for a major part of Iran’s foreign exchange revenues since 2019 when oil shipments started to decrease because of US sanctions.