TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer in January 2024, according to new data released by the World Steel Association (WSA).
In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel, which is a 39.3 percent increase compared to the same month of 2023, as reported by the WSA on Monday.
The world’s 71 steel-producing countries produced 148.1 million tons of steel in January 2024, indicating a 1.6 percent yearly decline, MNA reported.
Iran was ranked first in terms of production growth among the world’s top steel producers in the mentioned period.
According to the World Steel Association, Iran is the world’s ninth largest steel producer in the said period, after countries like China, India, Japan, the US, Russia, South Korea, Turkey, and Germany.
Iran’s steel production has shown continuous growth, increasing from 30.6 million tons in 2022 to 31.1 million tons in 2023, indicating a growth of 1.8% in the industry.