Iran Steel Output Tops 13m Tons

Iranian steel mills produced 13.44 million tons of steel from the beginning of January this year up to the end of August, registering a 15.7% growth compared with last year's corresponding period, the latest report released by World Steel Association shows.

Iran’s crude steel output in August stood at 1.7 million tons, indicating a 15.1% rise compared to last year’s corresponding month.

Similar to July, this is the second fastest growth among all producers of more than 1 million tons per month, after France with 15.5% growth in August. Considering all producers regardless of output, Iran is ranked 13th in term of fastest growth.

Iran produced 11.68 million tons of direct-reduced iron during the eight months, up 11.2% year-on-year, to remain the world’s largest producer of DRI. The August output was up 6.31% to 1.43 million tons.

DRI, also called sponge iron, is produced from the direct reduction of iron ore to iron by a reducing gas made from natural gas or coal. It is most commonly made into steel using electric arc furnaces. About 70-75% of Iranian mills use EAFs.

The world’s 67 steelmakers produced 1.21 billion tons of crude steel during the eight months, up 4.9% YOY.

Global crude steel output stood at 143.58 million tons in August, indicating a 6.3% increase YOY.

WSA members account for approximately 85% of the world's steel production, including over 160 steel producers with nine of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.

Global producers seem intent on boosting production, as most steelmakers recorded a higher output in August compared to July.

The crude steel capacity utilization ratio of the 67 countries in August 2017 was 7.2%. This is 3.3% higher than August 2016. Compared to July 2017, it is 0.2% points lower.

Iran remained the world’s 14th largest steelmaker and was placed between Mexico (13th) with a 13.5 million ton output and France (15th) with 10.4 million tons.

source: IMIDRO