Iran Steel Output Up 25%

EghtesadOnline: Iranian steel mills produced 12.5 million tons of crude steel during the first six months of 2018, up 25.8% compared with last year’s similar period.

News ID: ۷۴۵۷۳۵

29 July 2018

According to the latest report released by World Steel Association, Iran’s June steel output grew 16.5% year-on-year to hit 2.08 million tons.

Iran is currently the world’s 11th biggest producer of steel. The country is placed between Italy (10th) with 12.8 million tons and Mexico (12th) with 10.37 million tons.

The world’s 64 steelmakers produced a total of 881.45 million tons of steel during the six months, up 4.6% YOY, according to Financial Tribune.

Global steel output stood at 151.37 million tons in June, indicating a 5.8% increase YOY.

China was the world’s largest producer during the period under review with 451.15 million tons of steel output, up 6% YOY. Chinese steel production hit 80.19 million tons in June to rise 7.5% YOY.

It was followed by Japan with 52.98 million tons, India with 52.83 million tons, the United States with 41.84 million tons, South Korea with 36.06 million tons, Russia with 36 million tons, Germany with 22.45 million tons, Turkey with 18.89 million tons and Brazil with 16.86 million tons.

Iran’s crude steel output stood at 21.72 million tons in 2017, up 21.4% YOY.

Crude steel is defined as steel in its first solid (or usable) form: ingots, semi-finished products (billets, blooms and slabs). This is not to be confused with liquid steel, which is steel poured.

Global direct-reduced iron output increased 27.14% year-on-year to 7.3 million tons in June.

Production for H1 grew 20.47% year-on-year to 43.08 million tons.

The largest increase was in Iran where output during the six months increased 62.6% YOY to 14.35 million tons.

India, Iran's primary rival in DRI output, increased its six-month production by 9.21% YOY to 14.77 million tons.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity of 55 million tons of steel and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the target.

The country has been working to increase its iron ore processing capacity, including both DRI and hot-briquetted iron production to feed its steelmaking expansion target.