Iran’s Steel Output Tops 8.3mln Tons in 4 Months
- May, 31, 2019 - 14:01
- Economy news
TEHRAN (Tasnim) – A new report released by the World Steel Association (WSA) showed that Iran has managed to produce over 8.3 million tons of steel during the first four months of this year.
Iran’s steel production from January to April has increased by 6 percent compared to the same period last year, according to the WSA data.
In the first four months of 2018, the country had produced 7.917 million tons of steel while in the same period in 2019, the steel output reached 8.388 million tons.
The total steel production of the world in the first four months of this year grew by 4.8% compared to a year earlier, amounting to 599mln tons, according to the report.
Iran ranked 10th in the world in terms of crude steel production in 2018 despite harsh economic sanctions imposed on the Islamic Republic.
Iran’s steel production in 2018 increased by 17.7 percent compared to a year earlier, amounting to 25 million tons. Iran had produced 21.2 million tons of steel a year earlier, according to the WSA.
The World Steel Association represents approximately 170 steel producers (including 9 of the world’s 10 largest steel companies), national and regional steel industry associations, and steel research institutes. Its members represent around 85% of world steel production.