TEHRAN - Iran's crude steel production reached over 25 million tons in the first 10 months of 2024, registering a 0.6 percent increase compared to the same period last year, according to the latest report by the World Steel Association (WSA).

In October 2024, Iran produced 3.0 million tons of crude steel, contributing to its total output since January. The report noted that Iran maintained its position as the world's 10th largest steel producer throughout most of the year, IRNA reported.

Notably, in May 2024, Iran achieved a milestone by producing 3.3 million tons of steel, a 2.1 percent year-on-year growth for the month and a 9.1 percent increase over the first five months of 2023. This performance briefly elevated Iran to the 7th position among global steel producers, surpassing Germany, Turkey, and Brazil.

However, power cuts in June caused a production drop of 700,000 tons compared to May, with output falling to 2.6 million tons. The reduction persisted during the summer months, but stabilized in October, with the country registering a three-million-ton monthly output.

Globally, crude steel production in October 2024 reached 151.2 million tons, a 0.4 percent year-on-year increase. Yet, cumulative global production for the first 10 months of 2024 was 1.6 percent lower than the same period in 2023, the World Steel Association reported.

The Iranian steel industry has been constantly developing over the past few years against all the pressures and obstacles created by outside forces, such as the U.S. sanctions and the coronavirus outbreak, which have 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).

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