Iranian steel production increases despite decreasing global demand

According to 2022 steel production data, Iranian steel industry has shown great success. In the top 10 crude steel production rankings, it moved from tenth to ninth place.

According to World Steel Association data, Iran ranked ninth in crude steel production after China, India, Japan, America, Russia, South Korea, Germany and Brazil. The reason for the increase in Iranian steel production on a world basis is the decrease in global demand due to the production decreases in all the aforementioned countries except India and Iran.

In general, last year, China's economic recession and the decrease in the construction sector, on the other hand, the energy crisis in Europe increased the cost of production and brought it to a point where it is impossible to produce crude steel. In addition, Iran could not recover from the effects of the war between Russia and Ukraine. After the attack on Ukraine, Russia was unable to receive steel requests from the West. Therefore, in its search for new markets, it turned to export points that were previously open to other countries, including Iran. As a result, the event that reduced Iran's share in the global steel market was dumping. Despite this, the trend of Iran's crude steel production is still up. In the same days that China, the world's largest steel producer and consumer, cut its output, Iran's steel output increased.