Iran's Steel Export Surges by 15.5% in 2023, Maintains Position as 10th Largest Steel Producer

Iran's steel export has witnessed a significant increase of 15.5 percent during the first eight months of the current Iranian calendar year (March 21-November 21), compared to the same period last year, according to the Iranian Steel Producers Association (ISPA).

Iran (IMNA)- The ISPA has reported that the value of Iran's steel export reached $4.8 billion in the mentioned eight-month period.

However, the latest report from the World Steel Association (WSA) indicates a slight decline in Iran's production of crude steel. The report reveals that the production of crude steel in Iran stood at 25.1 million tons in the first 10 months of 2023, reflecting a 0.1 percent decrease compared to the corresponding period last year.

Globally, the WSA data reveals that the world's crude steel production for the 10-month period reached a staggering 1.567 billion tons.

Despite the slight decline, Iran's crude steel output remained steady at 3.1 million tons in October. This maintained Iran's position as the world's 10th largest steel producer during the mentioned period.

In October 2023, global steel production reached 150 million tons, marking a 0.6 percent increase compared to the same month of the previous year, as reported by the World Steel Association (WSA). The leading steel-producing countries in the first 10 months of 2023 were China, India, Japan, the U.S., and Russia, respectively, according to the WSA. Meanwhile, Iran's steel output for the first nine months of 2023 was reported at 22.1 million tons, showing a 0.6 percent decline compared to the same period in 2022.

In September, Iran's monthly crude steel output dropped to 2.4 million tons, a decrease of 12.7 percent compared to September 2022. Despite facing challenges such as U.S. sanctions and the impact of the coronavirus pandemic, Iran's steel industry has demonstrated consistent growth in recent years.

News ID 713193


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