EghtesadOnline: Iranian steel mills produced a total of 18.52 million tons of crude steel during the first nine months of 2018, up 20% compared with last year’s corresponding period.
According to the latest report released by World Steel Association, Iran’s September steel output grew 4.3% year-on-year to hit 2 million tons, the Brussels-based international trade body for the iron and steel industry added.
Iran has been ranked 10th biggest producer of steel during the nine months. The country is placed between Brazil (9th) with 26.09 million tons and Italy (11th) with 18.31 million tons.
Iran’s crude steel output stood at 21.23 million tons in 2017, according to Worldsteel, up 21.4% YOY, according to Financial Tribune.
The world’s 64 steelmakers produced a total of 1.34 billion tons of steel during the period under review, up 4.7% YOY.
Global steel output stood at 151.79 million tons in September, indicating a 4.5% increase YOY.
China was the world’s largest with 699.42 million tons of steel output, up 6.1% YOY. Chinese steel production hit 80.84 million tons in September to rise 7.5% YOY.
China was followed by India with 79.66 million tons, Japan with 78.61 million tons, the United States with 64.17 million tons, Russia with 54.23 million tons, South Korea with 54.18 million tons, Germany with 34.03 million tons and Turkey with 27.98 million tons.
Iran’s crude steel output stood at 21.23 million tons in 2017, according to Worldsteel, up 21.4% YOY.
Crude steel is defined as steel in its first solid (or usable) form: ingots, semi-finished products (billets, blooms and slabs). This is not to be confused with liquid steel, which is steel poured.
Iran 2nd in World DRI Production
Global direct-reduced iron output increased 6.8% year-on-year to 6.78 million tons in September, according to Worldsteel.
Production for the nine months grew 12.2% year-on-year to 62.48 million tons.
Iran was the second biggest producer with 2.04 million tons of DRI production in September and 18.47 during the first nine months of 2018.
India, Iran's primary rival in DRI output, increased its eight-month production by 4.9% YOY to 23.09 million tons.
The largest increase was in Argentina where output increased 45.1% YOY to 1.15 million tons.
Iran aims to become the world’s sixth largest steel producer as per its 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the capacity target.
The country has been working to increase its iron ore processing capacity, including both DRI and hot-briquetted iron production to feed its steelmaking expansion target.