Iranian steel industry grows by 5.1%

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Iran’s steel industry is experiencing robust growth, with exports rising 5.1% in the first ten months of the current year (March 21, 2023-January 20, 2024) compared to the same period last year, according to Bahram Sobhani, Chairperson of the Iranian Steel Producers Association (ISPA).

This growth trajectory is expected to continue, with projections indicating Iran reaching the seventh-place position among the world’s leading steel producers by the 1404 Iranian calendar year (March 2025).

Strong Production and Alloy Output:

Further bolstering the industry’s strength, Iran’s alloy production witnessed a significant 7.6% increase in November 2023 compared to the previous month, reaching 3 million tonnes, as per an international industry association report.

Overall crude steel production for the first 11 months of 2023 also saw a positive trend, growing by 0.6% compared to the same period in 2022, reaching 28.1 million tonnes. This performance secured Iran’s position as the world’s 10th largest steel producer during the reported period.

The report highlights that China, India, Japan, the US, and Russia currently hold the top five positions in global steel production, with Iran positioned to potentially join their ranks in the near future.

This is reported by Tehran Times, a TV BRICS partner.

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