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Iran Steel Output Rises 24% to Surpass 10 Million Tons

Steel Output Rises 24% to Surpass 10 Million TonsSteel Output Rises 24% to Surpass 10 Million Tons
Iran experienced the largest increase in DRI production, as output increased 3.89 million tons or 53.5% YOY to reach 11.19 million tons

Iranian steel mills produced 10.14 million tons of crude steel during the first five months of 2018, up 24.3% compared with last year’s similar period, the latest report released by World Steel Association showed.
Iran’s May steel output grew by 12.4% year-on-year to hit 2 million tons. The country is currently the world’s 11th biggest steel producer. It is placed between Italy (10th) with 10.66 million tons and Mexico (12th) with 8.74 million tons.
The world’s 64 steelmakers produced a total of 729.47 million tons of steel during the five months, up 4.3% YOY.
Global steel output stood at 155.03 million tons in May, indicating a 6.7% increase YOY.

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