TEHRAN - The World Steel Association announced in its latest report that Iran's monthly production of raw steel in May 2024 increased by 2.1 percent compared to the same month in 2023, reaching 3.3 million metric tons, so Iran secured the seventh position among producers of crude steel in the world.

The report on the global production of raw steel in May 2024 that was released a few hours ago indicates that Iran ranked seventh in terms of monthly production among the top steel producers in the world for the first time in 2024.

The Islamic Republic produced 3.3 million metric tons of steel, with a point-to-point growth of 2.1 percent and a 9.1 percent increase in production of the commodity in the first five months of 2024 compared to the same period last year.

It is noteworthy that in terms of the volume of Iran’s raw steel production in the first five months of the current year, the country produced 14 million metric tons of raw steel and ranked ninth among world’s top producers after Germany and Turkiye with a production of 16.2 million metric tons and 15.5 million metric tons in the same period respectively.

According to the report, raw steel production in the first five months of the current year increased in states such as Turkiye, Iran, India, Germany, and Brazil compared to the same period last year, but the production level experienced a decline in China, Japan, the United States, Russia, and South Korea in that period.

The country’s steel production increased by 1.8 percent in 2023 as compared to the previous year, when the production stood at 30.6 million tons, based on the WSA data.

West Asia’s total crude steel output increased by 1.3 percent in the mentioned year as compared to 2022.

Based on the WSA data, Iran was the world’s 10th largest steel producer in 2023.

The world's steel producers managed to produce more than 1.888 billion tons of steel in 2023, which is a very slight decrease compared to 2022, and as a result, the World Steel Association has declared the percentage of change to be zero.

China with a production of 1.019 billion tons, India with a production of 140.2 million tons, and Japan with a production of 87 million tons were the top three steel-producing countries in the world in 2023.

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).

The official noted that steel production in the country also increased by 10.5 percent in the first three months of the current calendar year (March 21-June 21) as compared to the same quarter in the previous year.

Yaghoubi estimated Iran’s steel production to reach 32 million tons in the current year.

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