Iran’s steel output rose in the seven months to
July despite a global fall in production and despite power cuts imposed
on steel producers in the country this summer.
Figures released by the World Steel Association (worldsteel) cited by
the IRIB News on Saturday showed that Iran had produced 18.4 million
metric tons (mt) of raw steel in January-July, up 2.9% from the same
period last year.
Iran remained the 10th largest steel supplier in the world in the
seven months to July, the figures showed, which also indicated that
total steel output by seven major steel producing nations of the world
had dropped by 0.7% over the same period.
The increased Iranian steel output comes despite the fact that
industries in the country have been grappling with reduced electricity
supplies in recent months.
The Iranian Energy Ministry cut power supplies to major steel mills
in mid-summer as it was facing rising demand for cooling in the
country’s household sector.
That has caused concerns across an industry which has thrived in recent years by increasing its exports and creating more jobs.
Worldsteel figures, which partly relies on data supplied by Iran’s
state metals and mining company IMIDRO, showed that Iran’s steel output
had dropped by 18.7% year on year in July to reach 1.8 million mt.
However, the output accounted for nearly a half or 48.6% of the total
steel production in the West Asia region which includes Iran and seven
Arab steel producing countries.
The fall in Iran’s steel output in July was the largest recorded
among 71 steel producing countries, according to the worldsteel data
which showed that Brazil had reported a 11.6% rise in production in the
same month, the largest among all producers.