Iran’s 10-month crude steel output up 12.6%: WSA
Domestic Economy Desk
Iranian steelmakers produced over 23.79 million tons of crude steel during the first 10 months of 2020, marking a 12.6 percent rise compared to the figure for the same period last year, which was 21.12 million tons. According to figures released by the World Steel Association (WSA), Iran produced 2.66 million tons of crude steel in October, showing a 27.9 percent increase compared to the figure for the same month in 2019, which was 2.08 million tons.
China topped the list of crude steel producers in October, with an output of 92.2 million tons, while Iran ranked 11th.
Standing second to 10th on this list were, respectively, India (9.05 million tons), Japan (7.2 million tons), the US (6.14 million tons), Russia (6.05 million tons), South Korea (5.85 million tons), Germany (3.41 million tons), Vietnam (3.37 million tons), Turkey (3.2 million tons) and Brazil (2.78 million tons), the report said.
Global steel production in October amounted to 161.89 million tons, showing a seven percent increase compared to the figure for the same month of 2019, which was 152.24 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.