Considering Iran’s huge investments in steel industry, the country’s steel output is expected to increase by more than 33% within the next two years, according to a person with the knowledge of the matter.
Mohammad-Yaser Tayyebnia, the managing director of Mobarakeh Steel Company, put the country’s current steel output at 45 million metric tons (mt) which he said is expected to grow by 60 million mt in two years.
He noted that such a great potential can turn into a source of challenge if the necessary grounds are not prepared.
Tayyebnia added that the existence of some challenges such as electricity and gas outages, transportation problems and poor energy infrastructure make it difficult for the country to make use of this potential.
World Steel Association (worldsteel) reported last month that Iran produced as much as 22.1 million mt of steel in the first nine months of 2023 to maintain its 10th place among world steel producers.