Iran (IMNA) - According to data on the global steel market published on Monday by the official IRNA news agency, Iranian steel companies produced almost 5.1 million metric tons of steel in the first two months of this year, a 21.1% increase from January to February of last year.
Data revealed that Iran produced the most steel globally between January and February, ranking ninth overall, and its output increased the most year over year when compared to the top steel producing countries in the globe.
In January-February, Iran, China, and India were the only major steel producing countries to post year-on-year increases in output. Others saw their output dip over the period with Turkey reporting the worst hit with about 23% decrease in production.
According to worldsteel data, global steel production fell 0.8% in the first two months of this year compared to the same period last year.
After the country's oil exports were sanctioned by the United States in 2018, Iran has taken a number of steps to promote its mining and metals sectors.
The measures have improved the government's hard currency receipts while allowing mining and metal manufacturers across Iran to create tens of thousands of new employment.
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