6% Growth in Iran Steel Output
EghtesadOnline: Iranian steel mills produced a total of 8.38 million tons of crude steel during the first four months of 2019, up 6% compared with the corresponding period of 2018, the latest report released by the World Steel Association shows.
Iran’s April output grew 2.8% year-on-year to hit 2.16 million tons, according to the Brussels-based international trade body for the iron and steel industry.
The country's world ranking improved by one place compared to its previous standing to become the world’s 10th biggest crude steel producer, the new report shows.
Iran is now placed between Turkey (ninth) with 11.23 million tons and Italy (11th) with 8.24 million tons, according to Financial Tribune.
The world’s 64 steelmakers produced a total of 600 million tons of steel over the four months, up 4.8% YOY.
Global steel output stood at 156.82 million tons in April, indicating a 6.5% increase YOY.
China was the world’s largest crude steel producer with 314.96 million tons of steel output, up 10.1% YOY. It was followed by India with 36.11 million tons, Japan with 33.61 million tons, the United States with 29.58 million tons, South Korea with 24.38 million tons, Russia with 22.41 million tons, Germany with 13.99 million tons and Brazil with 11.27 million tons.
Iran’s crude steel output stood at 24.52 million tons in 2018, according to Worldsteel, up 17.7% YOY.
Crude steel is defined as steel in its first solid (or usable) form: ingots and semi-finished products (billets, blooms and slabs). This is not to be confused with liquid steel, which is steel poured.
The latest Worldsteel report shows global direct-reduced iron output increased 5.5% year-on-year to 29.4 million tons during the four months to April 30.
Global DRI output in April stood at 7.58 million tons to register a 7.4% growth YOY.
Production in 2018 grew 11.6% year-on-year to 84.3 million tons.
Iran was the second biggest producer in the world with 9.3 million tons of DRI production during the four months under review to register a 17.7% YOY growth.
Iran’s April DRI output grew 7.6% YOY to hit 2.39 million tons. It produced 25.54 million tons of DRI in 2018, up 31.6% YOY.
India, Iran's primary rival in DRI output, increased its four-month production by 2.1% YOY to 11.03 million tons.
The largest decrease was in Argentina, where output decreased by 37.4% YOY to 398,000 tons.
Iran aims to become the world’s sixth largest steel producer as per the 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.
According to Deputy Minister of Industries, Mining and Trade Khodadad Gharibpour, Iranian steel industry is export-oriented such that the country exports more than 40% of its steel output.