EghtesadOnline: Iranian steel mills produced 2.89 million tons of crude steel in the first two months of 2017, registering a 6.2% growth year-on-year, according to the latest report released by World Steel Association.
The report shows Iran’s crude steel output in February stood at 1.37 million tons, indicating a 1.1% growth compared with last year’s similar month.
Meanwhile, the world’s 67 steelmaking countries continued their growth in production, albeit at a slower pace compared to their January performance. Global crude steel production stood at 126.6 million tons in February, indicating a 4.1% increase year-on-year.
The crude steel capacity utilization ratio of global steelmakers in February 2017 stood at 70.3%--4% higher than February 2016. Compared to January 2017, it is 1.1% higher, Financial Tribune reported.
The WSA statistics indicate that most global steel giants started 2017 by posting strong growth. For instance, China’s February output was up 4.6% and reached 61.2 million tons. India, South Korea, Germany, Italy, Turkey and Brazil were also among the risers.
China remained in the top spot with 128.76 million tons, followed by Japan with 17.34 million tons, India with 16.76 million tons, the United States with 13.3 million tons, Russia with 11.76 million tons, South Korea with 11.15 million tons, Germany with 7.1 million tons, Turkey with 5.66 million tons, Brazil with 5.4 million tons, Ukraine with 4.03 million tons, Italy with 3.79 million tons and Taiwan with 3.61 million tons.
Iran was the world’s 14th largest steelmaker, as it was placed between Mexico (13th) with a 3.22-million-ton output and France (15tH) with 2.57 million tons.
Iran’s crude steel output stood at 17.89 million tons in 2016, according to WSA data.
The country aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan (2005-25), which envisions an annual production of 55 million tons of crude steel and 20-25 million tons of exports per year by the deadline.
Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh had earlier said Iranian steel mills have so far materialized 31 million tons of the annual steel production capacity target.