Iran steel output grows 0.6% in first 10 months of 2024: WSA

Iran's crude steel production reached over 25 million tons in the first 10 months of 2024, marking a 0.6% growth compared to the same period last year, according to the latest report by the World Steel Association (WSA).

News ID: 2000361

EghtesadOnline: In October 2024, Iran produced 3 million tons of crude steel, contributing to its total output since January. The report noted that Iran maintained its position as the world's 10th largest steel producer throughout most of the year.

Notably, in May 2024, Iran achieved a milestone by producing 3.3 million tons of steel, a 2.1% year-on-year growth for the month and a 9.1% increase over the first five months of 2023. This performance briefly elevated Iran to the 7th position among global steel producers, surpassing Germany, Turkey, and Brazil.

However, power cuts in June caused a production drop of 700,000 tons compared to May, with output falling to 2.6 million tons. The reduction persisted during the summer months, but stabilized in October, with the country registering a 3-million-ton monthly output.

The crude steel production volume in October 2024 reached 151.2 million tons, a 0.4% year-on-year increase. Yet, cumulative global production for the first 10 months of 2024 was 1.6% lower than the same period in 2023, the World Steel Association reported. / Mehr