Iranian steel mills produced a total of 14.98 million tons of crude steel during the first seven months of 2019, which indicates a 6.4% rise compared with the corresponding period of 2018, the latest report released by the World Steel Association shows.
The country's July output grew 11.1% year-on-year to hit 2.2 million tons, according to the Brussels-based international trade body for the iron and steel industry, Financial Tribune reports.
Iran’s ranking remains unchanged compared to the previous monthly report, as the world’s 10th biggest crude steel producer.
The country is placed between Brazil (ninth) with 19.69 million tons and Italy (11th) with 14.69 million tons, the new report shows.
The world’s 64 steelmakers produced a total of 1.08 billion tons of steel over the seven-month period, up 4.5% YOY.
Global steel output stood at 156.89 million tons in July, indicating a 1.9% increase YOY.
China was the world’s largest crude steel producer with 577.06 million tons of steel output, up 9% YOY.
The country was followed by India with 66.18 million tons, Japan with 59.47 million tons, the United States with 51.82 million tons, South Korea with 42.6 million tons, Russia with 42.46 million tons, Germany with 24.07 million tons and Turkey with 19.91 million tons.
Iran’s crude steel output stood at 24.52 million tons in 2018, according to Worldsteel, up 17.7% YOY, accordign to the paper.
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, FT explains.
The latest Worldsteel report shows global direct-reduced iron output increased 5.8% year-on-year to 51.57 million tons during the seven months ending July 31.
Global DRI output in July stood at 7.24 million tons to register a 6.6% growth YOY.
Production for 2018 grew 11.6% YOY to 84.3 million tons.
Iran was the second biggest producer in the world with 16.65 million tons of DRI production during the seven months under review to register a 16.3% growth YOY.
Iran’s July DRI output grew 22.6% 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 seven-month production by 5.9% YOY to 19.36 million tons.
The largest decrease was in Argentina, where output decreased 29.2% YOY to 666,000 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 Iran's only English Economic Daily.
According to Deputy Minister of Industries, Mining and Trade Khodadad Gharibpour, Iranian steel industry is an export-oriented one, such that the country exports more than 40% of its steel production.