Iran’s seven-month steel ingot production tops 13m tons

According to statistics by the Ministry of Industry, Mine and Trade, the country produced more than 1.9 million tons of crude steel during the month to October 21, IRNA reported.

Steel mills of Iran produced 8.4 million tons of steel products during the seven-month period, indicating four percent of increase in comparison to the related figure for last year.

According to figures released by the World Steel Association (WSA) on October 24, Iranian steelmakers produced over 20.8 million tons of crude steel during the first nine months of 2020, marking a 9.3 percent rise compared to the figure for the same period last year, which was 19.05 million tons.

Iran produced 2.26 million tons of crude steel in September, showing a 2.2 percent decrease compared to the figure for the same month in 2019, which was 2.31 million tons.

Iran produced 31.9 million tons of crude steel in 2019, according to the WSA figures released in January.

The country plans to increase its annual steel production capacity to 55 million tons by 2025, with exports expected to reach between 10 million tons and 15 million tons per year.

The WSA is one of the largest and most dynamic industry associations in the world. Its members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers, with nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.