TEHRAN - Production of crude steel in Iran rose nine percent in the first 10 months of 2022, as compared to the same period of time in the past year, according to the latest report released by the World Steel Association (WSA).

The WSA data put the country’s 10-month crude steel production at 25.1 million tons, IRNA reported.

The report shows that Iran’s crude steel output has also increased by 3.5 percent in October compared to the same month in 2021, reaching 2.9 million tons.

The world’s 64 steel producers managed to produce 1,552,700,000 tons of steel in January-October 2022, 3.9 percent less than the figure for the previous year’s same period.

Meanwhile, the world’s top steel-producing countries produced 147.3 million tons of crude steel in October, registering no change compared to the same month last year.

Based on the WSA report, China, India, Japan, the U.S., and Russia were the world’s top steel producers respectively.

Iran has maintained its place as the world’s 10th biggest steel producer during the mentioned 10 months, according to the WSA data.

The Islamic Republic’s steel output had also increased by 9.8 percent in the first nine months of 2022, as compared to the same period of time in 2021, while the world’s total steel production decreased by 4.3 percent.

The WSA data put the country’s nine-month crude steel production at 22.2 million tons.

The Iranian Steel industry has been constantly developing over the past years against all the pressures and obstacles created by outside forces like the U.S. sanctions and the coronavirus outbreak that has severely affected the performance of the world’s top producers.

The country is expected to climb to seventh place among the world’s top steel producers by the Iranian calendar year 1404 (March 2025).

EF/MA