Iran among top 10 steel producers in world as 8-month output grows 1.9% y/y

Isfahan, IRNA – Iran’s crude steel production during the first eight months of 2024 has increased by 1.9% compared to the corresponding period last year, which makes the country secure its place among the world’s top 10 steel producers, the latest report by the World Steel Association shows.

According to the report issued on global crude steel production in August, Iran produced 19.8 metric million tons of steel during the first eight months of this year, which shows a 1.9% increase year-on-year. The increase happened despite a drop in Iranian steel production during June, July, and August, it added.

Global output in August fell by 6.5% compared to the same month in 2023, with total output reaching 144.8 million tons, the report said, which was issued based on data from 71 steel-producing countries.

India, Germany, Turkiye, Brazil, and Iran respectively recorded the highest amount of production growth during the first eight months of the year, as those countries’ steel production increased by 6.5%, 4.0%, 14.8%, 3.8%, and 1.9%, respectively, compared to last year.  

In contrast, other major producers such as China, Japan, the US, Russia, and South Korea saw declines of 3.3%, 2.9%, 1.7%, 4.9%, and 5.5%, respectively.