Iran’s steel output up 8% to 31 mln mt in 2024: WSA

Iran raised its steel output by 8% last year compared to 2023 as manufacturers failed to hit higher production targets because of restrictions on energy supplies to industries, according to IMIDRO.

News ID: ۲۰۰۰۷۲۵

27 January 2025

EghtesadOnline: Figures by the World Steel Association (worldsteel) cited in a Sunday report by the IMIDRO showed that Iran’s steel production reached 31 million metric tons (mt) in 2024.

The figures showed that global steel production declined by 9% to 1.839 billion mt last year with China being responsible for 1.005 billion mt of the total output, according to Press TV.

Iran’s steel output fell by 8.2% year on year in December to reach 2.6 million mt after weeks of power cuts and gas outages in the industries, the IMIDRO said, adding that global steel production had risen by 5.6% to 144.5 million mt over the same period.

The company said Iran’s steel production could have hit new records high last year if steel producers had provided with sufficient volume of energy.

It said the country could have moved up to 7th from 10th in the global ranking of major steel producers last year if energy supply issues had been resolved.

Worldsteel data showed that Turkey’s steel production had outpaced that of Iran in 2024 as the country’s output rose 9.4% over the year, the highest among the 10 large steel producers of the world.

Iran became the world’s 7th largest steel producer in November with 3.1 million mt of production, up 0.1% from the same month in 2023. / Mehr