Iran’s Steel Output Up 11%

Iran’s crude steel output in November stood at 1.585 million tons, indicating a 26.3% rise compared with last year’s similar month.

Over 16.4 million tons of crude steel were produced by Iranian steel mills in the 11 months of 2016, registering an 11% growth year-on-year, according to a preliminary report exclusively sent by World Steel Association to its members, including Iranian Mines & Mining Industries Development and Renovation Organization, via Telegram.

According to WSA data, Iran’s crude steel output in November stood at 1.585 million tons, indicating a 26.3% rise compared with last year’s similar month. The November output, however, saw a 3% drop compared to October.

Meanwhile, the world’s 65 steelmaking countries snapped their downtrend in production, signaling a recovery.

The global January-November production stood at 1.46 billion tons, up 0.4% Y-O-Y. The November output followed the same trend rising 5.2% compared to 2015’s corresponding period with a 132.6-million-ton output. However, production figures for November recorded a 3% drop compared to October.

The global growth was mostly due to output boosted in Asia, China and India in particular. China, which produces more than half of the world’s steel, bolstered its output by 5% to 66.29 million tons last month. India also produced approximately 8 million tons in November to post 10.7% growth Y-O-Y.

Worldwide standings for the nine-month steel production remained unchanged. China remain in the top spot with 738.9 million tons, followed by Japan with 96.22 million tons, India with 87.5 million tons, the United States with 72 million tons, Russia with 64.6 million tons and South Korea with 62.7 million tons.

The next in line are Germany with 38.8 million tons, Turkey with 30.3 million tons, Brazil with 28 million tons, Ukraine with 22.2 million tons, Italy with 21.5 million tons and Taiwan with 19.7 million tons.

Iran maintained its position as the world’s 14th largest steelmaker, as its January-November output placed it between Mexico (13th) with 17.2 million tons and France with 13.2 million tons of crude steel output.

Iran exported 4.3 million tons of crude steel and steel products worth $1.82 billion in the eight months to November 21. Iranian steel mills exported 4.1 million tons last year.

Iran’s crude steel output stood at 16.1 million tons in 2015. The country aims to become the world’s sixth largest steel producer as per the Vision Plan (2005-25), which envisions an annual production of 55 million tons of crude steel per year by the deadline.

According to Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh, Iranian steel mills have so far materialized 31 million tons of the annual steel manufacturing capacity.