Economy, Business And Markets

2015 Steel Output Tops 16m Tons

2015 Steel Output Tops 16m Tons2015 Steel Output Tops 16m Tons

More than 16.1 million tons of crude steel were produced by Iran’s steelmakers in 2015, indicating a 1.4% drop compared with the previous year’s output, according to World Steel Association’s latest report. Despite the declining trend, Iran has held its ground as the world’s 14th largest steel producer. China, Japan, India, the United States, Russia, South Korea, Germany, Brazil, Turkey, Ukraine, Italy, Taiwan and Mexico took the first to 13th ranks in 2015 respectively. All the steel producing countries, with the exception of India which registered a 2.6% growth, posted significant declines in crude steel output compared to last year. The United States registered the highest decline with 10.5%, followed by Japan and South Korea with 5% and 2.6% respectively. Over 1.5 billion tons of crude steel were produced globally in 2015, registering a 2.8% decrease compared to 2014.