EghtesadOnline: Iranian steel mills produced a total of 17.18 million tons of crude steel during the first eight months of 2019, which indicate a 6.4% rise compared with the corresponding period of 2018, the latest report released by the World Steel Association shows.
The country's August output grew 6.7% year-on-year to hit 2.2 million tons, according to the Brussels-based international trade body for the iron and steel industry.
Iran’s world ranking remains unchanged compared to Worldsteel's previous monthly report—the world’s 10th biggest crude steel producer, Financial Tribune reported.
The country is placed between Brazil (ninth) with 22.14 million tons of production and Italy (11th) with 15.41 million tons, the new report shows.
The world’s 64 steelmakers produced a total of 1.24 billion tons of steel over the eight-month period, up 4.5% YOY.
Global steel output stood at 156.02 million tons in August, indicating a 3.5% increase YOY.
China was the world’s largest crude steel producer with 664.86 million tons of steel output, up 9.1% YOY.
China was followed by India with 75.69 million tons, Japan with 67.58 million tons, Japan with 67.58 million tons, the United States with 59.22 million tons, South Korea with 48.42 million tons, Russia with 48.26 million tons, Germany with 27.2 million tons and Turkey with 22.55 million tons.
Iran’s crude steel output stood at 24.52 million tons in 2018, Worldsteel declared, up 17.7% 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.
The latest Worldsteel report shows global direct-reduced iron output increased 6.3% YOY to 61.3 million tons during the eight months to Aug. 31.
Global DRI output in August stood at 7.59 million tons to register a 3.5% growth YOY.
Production in 2018 grew 11.6% YOY to reach 84.3 million tons.
Iran was the second biggest producer in the world with 19.12 million tons of DRI production during the eight months under review to register a 16.4% YOY growth.
Iran’s August DRI output grew 17.2% YOY to hit 2.47 million tons.
The country produced a total of 25.54 million tons of DRI in 2018, up 31.6% YOY.
India, Iran's primary rival in DRI output, increased its eight-month production by 7% YOY to 24.27 million tons.
The largest decrease was in Argentina, where output decreased by 41.2% YOY to 598,000 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 34 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, and Chairman of Iranian Mines and Mining Industries Development and Renovation Khodadad Gharibpour, Iranian steel industry is an export-oriented one such that the country exports more than 40% of its steel output.
The Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows 8.53 million tons of ingot, bloom and billet (semi-finished products) were produced during the first five months of the current Iranian year (March 21-August 22), up 4% year-on-year.
Mobarakeh Steel Company with its subsidiaries Saba and Hormozgan Steel was the biggest producer with 3.88 million tons (down 1% YOY).
Khorasan Steel Company came next with 1.6 million tons (up 1% YOY), followed by Esfahan Steel Company with 997,470 tons (up 6% YOY), South Kaveh Steel Company with 491,655 tons (up 12% YOY), Khorasan Steel Company with 462,835 tons (up 15% YOY), Chadormalu Steel Company with 407,896 tons (up 14% YOY), Arfa Iron and Steel Company with 370,371 tons (up 10% YOY), Iran Alloy Steel Company with 203,071 tons (up 18% YOY), Bonab Steel Company with 105,840 tons (up 319%) and INSIG with 3,437 tons (unchanged).