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Iran’s steel production in January disclosed

1 March 2019 16:38 (UTC+04:00)
Iran’s steel production in January disclosed

By Abdul Kerimkhanov

The state leadership of Iran pays special attention to the development of the steel industry as one of the most important components of the country's economy.

In January, Iran produced 2.23 million tons of raw steel, which is 2.57 percent less than in the same month of 2018, when production amounted to 2.289 million tons.

According to data released by the World Steel Association (WSA) on February 26, China ranked first on the list of raw steel producers in January 2019 with a production volume of 75.01 million tons.

The report says that India, Japan and the United States, with 9.18 million tons, 8.14 million tons and 7.64 million tons, respectively, ranked second, third and fourth.

World production of steel in January stood at the level of 146.7 million tons, showing an increase of 0.16 percent compared to production in December 2018, which totalled 146.46 million tons.

According to data released by the Word Steel Association last month, Iran ranked 10th among the global producers of raw steel last year with a production volume of 25 million tons.

Statistics shows an increase of 17.72 percent for Iran compared to the figure for 2017, which amounted to 21.24 million tons. Iran was the 14th largest steelmaker in the world in 2017.

According to the development plan of Iran’s economy, the total steel production in the country should be 55 million tons per year by 2025, while export is expected to reach 10-15 million tons.

WSO was founded as the International Iron and Steel Institute on July 10, 1967. It changed its name to the World Steel Association on October 6, 2008. The association celebrated its 50th year anniversary in 2017.

It represents over 160 steel producers (including nine of the world's 10 largest steel companies), national and regional steel industry associations, and steel research institutes. WSO members cover around 85 percent of world steel production.

Currently, there are several dozens of steel production facilities in Iran, including the Mobarak metallurgical complex in Isfahan, the Cavian metallurgical complex, the Bonab metallurgical complex, the Save steel works and steel profile plants, the Fulad Khuzestan steel company and the industrial group Sepahan, which operate in the industry the production of steel and its products, such as rebar, beams, and various types of steel leaves.

Products of the Iranian steel industry, not only provide domestic needs but also are exported to some countries of the Middle East, Africa and Europe.

According to the Iranian Steel Producers ’Association (ISPA), to achieve the target of up to 55 million tons per year by 2025, Iran’s steel industry needs new investments $ 27.4 billion. About $3.5 billion must be invested directly in the production of steel and raw materials.

The main importers of steel products were CIS countries and Asian countries.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

Follow us on Twitter @AzerNewsAz

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