According to Worldsteel figures, Iran, China and India increased their annual production in January-February. Iranian steel producers produced 4.21 million tons in January-February 2022, and 5.1 million tons with an increase of 21.1% in the same period of 2023.
Looking at the numbers, Iran, China and India were the main steel producing countries reporting annual output growth.It also showed that Iran, among the 10th steel producer, recorded the largest increase in annual production on a world basis as the ninth largest global steel producer.The country is expected to rank seventh among the world's largest steel producers by March 2025. The other seven countries recorded a decrease of 0.8% in their production.
As reported by the WSA in February, the production by the world's 64 crude steel producers decreased by 4.2% in 2022, while Iran producing 30.6 million tons of crude steel per year, up to 8 percent.
After the US sanctions on oil exports, it was seen that Iran's factories created tens of thousands of new jobs to support the mining and metals industry, while increasing currency revenues for the government.
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