Iran maintains 10th global standing as crude steel output rises in 2024
By Reza
Abesh Ahmadlou
Staff writer
Iran’s crude steel production saw steady growth in 2024, solidifying its position as one of the world’s top 10 steel-producing nations, according to data released by the World Steel Association.
The report, published on Friday, highlighted Iran’s continued efforts to expand its steel industry amid global economic challenges and shifting market dynamics as well as power outages in the country.
In 2024, Iran produced 31 million tons of steel ingots, marking a 0.8% increase compared to the previous year. The growth reflects the country’s ongoing investments in its steel sector, which has become a key pillar of its industrial and economic development strategy. Iran’s production accounted for roughly 1.68% of the global total, which topped 1.839 billion tons in 2024.
Globally, Iran ranked 10th among the world’s largest steel producers, maintaining its position from 2023. China remained the dominant leader, producing 1.005 billion tons, or about 54.6% of the world’s total output. India followed in second place with 149.6 million tons, while Japan, the United States, and Russia rounded out the top five. Iran’s ranking ahead of countries like Brazil and Germany underscores its growing influence in the global steel market.
According to the report, China churned out 76 million tons of crude steel in December 2024, up 11.8% in December 2023. India produced 13.6 million tons, up 9.5%. Japan produced 6.9 million, down 1.1%.
The US cast 6.7 million tons, down 2.4%. Russia is estimated to have produced 5.7 million tons, down 8.6%. South Korea produced 5.2 million tons, down 3.2%. Germany cast 2.7 million tons, up 4.1%. Turkey produced 3 million tons, down 7.6%. Brazil’s output hit 2.6 million, up 1.8% and Iran produced 2.6 million tons, down 8.2%.
The expansion of Iran’s steel industry is part of a broader strategy to reduce the country’s reliance on oil exports and diversify its economy. Steel production is a critical component of Iran’s non-oil export sector, with significant quantities shipped to neighboring Iraq. The government has also prioritized domestic infrastructure projects, which have driven demand for steel within the country.
Despite these achievements, Iran’s steel industry faces challenges, including international sanctions that limit access to advanced technology and foreign investment. Additionally, global economic uncertainties, such as fluctuating demand and rising energy costs, have impacted production and export capabilities. However, Iran has sought to mitigate these issues by strengthening trade ties with regional partners and investing in domestic innovation.
The World Steel Association’s report also highlighted global trends in steel production, noting a 0.9% decrease in worldwide output compared to 2023. Iran’s ability to maintain its production growth amid these trends demonstrates the resilience of its steel sector.
Looking ahead, Iran aims to further increase its crude steel production capacity, with a target of reaching 55 million metric tons annually in the near future. Achieving this goal will require significant investments in infrastructure, technology, and workforce development, as well as continued efforts to navigate geopolitical and economic challenges.
As Iran continues to expand its steel industry, its role in the global market is expected to grow, reinforcing its position as a key player in the world’s industrial landscape. The 2024 production figures underscore the country’s progress and its determination to build a more diversified and resilient economy.