Iran achieved a significant increase in steel production in November, ranking seventh globally. The country's steel output reached 3.1 million metric tonnes (mt) in November, according to a report by the Iranian Mining and Metallurgical Development Organization (IMIDRO) based on data from the World Steel Association (worldsteel). This represents an increase of only 0.1 per cent compared to the same period last year.
The limited increase in November was in line with the significant growth in global steel production. Worldwide steel production rose by 8 per cent to 146.8 million mt.
As of January-November 2024, Iran produced a total of 28 million mt of steel, an increase of 0.5 per cent compared to the same period last year. During this period, Iran became the 10th largest steel producer in the world, behind Brazil, which produced 32.5 million mt of steel.
The increase in Iran's steel output came despite a decline in global production. Global steelmakers produced 1.694 billion metric tonnes of steel, a total decrease of 1.4% compared to 2023.
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