Iran (IMNA) - According to the World Steel Association (worldsteel), Iran produced 18.4 million metric tons of raw steel in the first seven months of the year, making it the 10th largest steel supplier in the world.
The country's steel output has continued to grow despite power cuts imposed on steel producers this summer, which had raised concerns about the industry's ability to maintain its production levels. The Iranian Energy Ministry had reduced electricity supplies to major steel mills in mid-summer due to rising demand for cooling in the household sector.
While Iran's steel output did experience a decline of 18.7% year-on-year in July, reaching 1.8 million metric tons, it still accounted for nearly half of the total steel production in the West Asia region, which includes Iran and seven Arab steel-producing countries.
In contrast, global steel production declined by 0.7% in the same period, with only Brazil reporting a rise in production, up 11.6% year-on-year.
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