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Iran’s eight-month steel output up despite power cap
Iranian steelmakers churned out 19.8 million tons of crude steel during the first eight months of the current year to keep the country among the top 10 in the world, IRNA reported on Saturday.
In May, Iran with the production of 3.3 million tons registered a monthly growth of 2.1%, along with recording a rise of 9.1% in the first five months of 2024 compared to corresponding figures of 2023, to rank seventh among the world’s top steelmakers.
In June, due to the electricity restrictions, the steel industry of Iran produced only 2.6 million tons of steel ingots, indicative of a decrease of 700,000 tons compared to the figure for previous month.
By observing electricity restrictions this summer, Iran’s steel industry produced 1.8 million tons of crude steel in July, and the restrictions in August led to a monthly production of 1.4 million tons of steel, which were among lowest monthly steel productions of the country in recent years.
Global output in August fell by 6.5% compared to the same month in 2023, with total output reaching 144.8 million tons, the worldsteel report said, which was issued based on data from 71 steel-producing countries.
India, Germany, Turkey, Brazil, and Iran respectively recorded the highest amount of production growth during the first eight months of the year, as those countries’ steel production increased by 6.5%, 4.0%, 14.8%, 3.8%, and 1.9%, respectively, compared to last year.
In contrast, other major producers such as China, Japan, the US, Russia, and South Korea saw declines of 3.3%, 2.9%, 1.7%, 4.9%, and 5.5%, respectively.
The World Steel Association is one of the largest and most dynamic industry associations in the world, with members in every major steel-producing country. The WSA represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85 percent of global steel production.