WSA: Iran Retains 10th Position in World Steel Producers Ranking

Iran continued to rank among the world’s top 10 steel producers during the first five months of 2021, announced the World Steel Association (WSA) in its latest report. In this period, Iran produced 12.5 million tons of raw steel to maintain its 10th position among the world’s top producers, IRNA reported. The figure indicates a 9.2% growth compared to that of the same period of 2020.

Total output by the world’s 64 steel producers in the first five months of 2021 stood at 837.5 million tons, indicating a 14.5 increase year-on-year. Iran’s steel output during May 2021 witnessed a year-on-year rise of 7.7% to reach 2.6 million tons. The global production in May reached 174.4 million tons, up 16.5% compared to the figure for the same month of the preceding year.

The world’s top five steel producers in the five-month period were China (473.1 million tons – 13.9% growth), India (48.6 million tons – 33.6% rise), Japan (40 million tons – 9.1% increase), the US (34.8 million tons – 10.6% surge) and Russia (31.9 million tons – 7.9% hike).

In addition, above Iran in the ranking are South Korea, Germany, Turkey and Brazil, having produced 29.3 million tons (6.9% growth), 17 million tons (13.6% rise), 16.3 million tons (21.2% hike) and 14.9 million tons (20.3% increase) respectively in this duration.

Iran has seen an increased activity in metals and mining activities since 2018 when the US pulled out of the Joint Comprehensive Plan of Action, signed between Tehran and the P5+1 in July 2015, and reimposed its unilateral sanctions on the country’s oil and banking sectors, according to Press TV.

Washington targeted Iran’s metals trade with similar sanctions in 2019 but the bans have hardly had any impact on the country’s output in the sector.  Iranian authorities say the country could become the seventh largest steel producer in the world within the next years as annual output is planned to reach above 50 million tons. - Iran Daily