TEHRAN- Production of steel products in Iran stood at 14.527 million tons in the first nine months of the current Iranian calendar year (March 21-December 21, 2022), according to the data released by Industry, Mining and Trade Ministry.

The ministry’s data indicate that the nine-month steel products output has fallen 23 percent as compared to the production in the same period of time in the past year.

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 latest report released by the World Steel Association (WSA) shows that Iran’s crude steel output has increased 8.5 percent in the first 11 months of 2022, while the world steel output has fallen 3.7 percent in the said period.

Production of crude steel in Iran reached 27.9 million tons during the mentioned 11 months, as compared to 25.7 million tons in the first 11 months of 2021.

The WSA put the crude steel output by the world’s top 64 producers at about 1.691 billion tons in the mentioned time span.

During the first 11 months of the current year, all of the world’s top 10 steel producers except for Iran and India experienced a decline in their steel output, according to the WSA report.

Iran’s monthly crude steel output stood at 2.9 million tons in November, registering a 3.9 percent rise compared to the figure for the same month in 2021.

The Islamic Republic of Iran maintained its place as the world’s 10th biggest steel producer in the period under review.

MA/MA