Iran's Steel Production Soars 8%, Reaching 31 Million Tons in 2024: WSA Report

Iran’s Steel Production Soars 8%, Reaching 31 Million Tons in 2024: WSA Report

According to a recent report by the World Steel Association (worldsteel), Iran’s steel production reached an impressive 31 million metric tons (mt) in 2024. This achievement comes despite challenges faced by the industry, including energy supply issues that hindered potential growth.

In the context of global steel production, the statistics reveal a significant decline. The overall production dropped by 9% to 1.839 billion mt last year. Notably, China was a major contributor, accounting for 1.005 billion mt of that total output, as reported by Press TV.

In December, Iran experienced an 8.2% year-on-year decrease in steel output, reaching 2.6 million mt. This decline was attributed to ongoing power cuts and gas outages affecting various industries. Conversely, the global steel production during the same period increased by 5.6%, totaling 144.5 million mt.

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) noted that Iran’s steel production could have achieved record highs in 2024 if adequate energy supplies were available. They suggested that resolving these energy issues could have potentially moved Iran from 10th to 7th place in the global rankings of major steel producers.

Additionally, data from worldsteel indicated that Turkey outperformed Iran in steel production in 2024. Turkey’s output grew by an impressive 9.4% over the year, making it the highest among the top ten steel producers worldwide.

As of November 2024, Iran secured its position as the world’s 7th largest steel producer, with production reaching 3.1 million mt, which was a slight increase of 0.1% compared to the same month in 2023.

  • Iran’s steel production in 2024: 31 million metric tons
  • Global steel production decline: 9% to 1.839 billion metric tons
  • China’s contribution: 1.005 billion metric tons
  • December production drop in Iran: 8.2% year-on-year to 2.6 million metric tons
  • Global steel production increase: 5.6% to 144.5 million metric tons
  • Potential for higher rankings: Could have moved from 10th to 7th place
  • Turkey’s performance: 9.4% increase in steel production
  • Iran’s ranking in November 2024: 7th largest steel producer with 3.1 million metric tons

The challenges faced by Iran’s steel industry highlight the critical role of energy supply in achieving production goals. If these energy concerns can be effectively addressed, Iran has the potential to reclaim and enhance its position among the world’s leading steel producers.

In summary, while Iran’s steel industry has faced significant hurdles in recent years, the potential for growth remains strong. With strategic improvements in energy supply and production capabilities, Iran could soon see a return to higher production levels and an improved global ranking.

For more updates on the steel industry and other economic factors, stay tuned to our latest reports.

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