Iran’s Global Steel Ranking Improves

Iranian steel mills produced 1.52 million tons of crude steel in January, registering an 11.3% growth compared with last year’s similar month. 

The solid uptick in output meant Iran was the world’s 13th biggest steelmaker in January, according to a preliminary report released by World Steel Association to its members, including Iranian Mines & Mining Industries Development and Renovation Organization, and seen by Financial Tribune.

Iran was placed between Italy (12th) with 1.82 million tons and Mexico with 1.51 million tons (14th). 

Iran’s January output edged down slightly compared to December 2016 though.

The world’s 67 steelmaking countries–with the recent addition of Vietnam—continued their growth in production, which first began in November after months of shrinking output. 

Global crude steel production stood at 136.5 million tons in January, indicating a 7% increase year-on-year.

The crude steel capacity utilization ratio of the steelmaking countries in January stood at 68.5%--3.4% higher than last year’s similar month. Compared to December 2016, the ratio is 0.9% higher.

The WSA statistics indicate nearly all global steel giants started 2017 by posting strong growth. For instance, China’s January 2017 output was up 7.4% to reach 67.2 million tons, which according to the association, owes to the fact that January 2016 saw a marked dip in Chinese steel output.

China remained in the top spot with 67.2 million tons, followed by Japan with 9 million tons, India with 8.4 million tons, the United States with 6.8 million tons, Russia with 6.1 million tons, South Korea with 5.8 million tons, Germany with 3.64 million tons, Turkey with 2.9 million tons, Brazil with 2.8 million tons, Ukraine with 2.1 million tons and Taiwan with 1.87 million tons.

Iranian steelmakers exported more than 4.4 million tons of crude steel and steel products during the 10 months to January 19, registering a 45% growth compared with last year’s corresponding period.

Iran Steel Producers Association has forecast domestic steelmakers to export close to 5.7 million tons by the end of the current fiscal year (March 2017). 

Iranian steelmakers set a new record last year by exporting more than 4.1 million tons of steel products and 1.8 million tons of crude steel.

Iran’s crude steel output stood at 17.89 million tons in 2016, according to WSA data. 

The country aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan (2005-25), which envisions an annual production of 55 million tons of crude steel and 20-25 million tons of exports per year by the deadline. 

Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh said Iranian steel mills have so far materialized 31 million tons of the annual steel production capacity.