Iran Steel Output Soars by 23%

EghtesadOnline: Iranian steel mills produced a total of 14.45 million tons of crude steel during the first seven months of 2018, up 23.6% compared with last year’s corresponding period, according to the latest report released by the World Steel Association.

News ID: ۷۸۳۸۲۶

28 August 2018

Iran’s July steel output grew 13.2% year-on-year to hit 1.98 million tons, the Brussels-based international trade body for the iron and steel industry added.

Iran has been ranked the world’s 11th biggest producer of steel during seven months. The country is placed between Italy (10th) with 15.02 million tons and Taiwan (12th) with 13.46 million tons.

The world’s 64 steelmakers produced a total of 1.03 billion tons of steel during the period, which marks a growth of 5% YOY, according to Financial Tribune.

Global steel output stood at 154.57 million tons in July, indicating a 5.8% increase YOY.

China was the world’s biggest producer with 532.84 million tons of steel output, up 6.3% YOY. Chinese steel production hit 81.24 million tons in July to rise 7.2% YOY.

It was followed by India with 61.83 million tons, Japan with 61.39 million tons, the United States with 49.33 million tons, South Korea with 42.23 million tons, Russia with 42.09 million tons, Germany with 26.35 million tons, Turkey with 22.15 million tons and Brazil with 20.21 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 21.2% year-on-year to 6.83 million tons in June.

Production in the seven months grew 17.8% YOY to 48.78 million tons.

The largest increase was in Iran, where output increased 49% YOY to 15.27 million tons.

India, Iran’s primary rival in DRI output, increased its seven-month production by 10.6% YOY to 17.27 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 expansion to 55 million tons 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 capacity 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.