Iran’s Export of Steel Increases 140% in 4 Months

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that the country’s exports of steel rose significantly in the four months to late July this year with China being responsible for more than a third of purchases.

IMIDRO figures showed that Iran had exported some $2.693 billion worth of steel in the four months to July 22, an increase of 36% compared to the same period last year.

The figures showed Iranian overseas steel shipments had risen by 140% in volume terms year on year in March-July to reach 10.923 million metric tons (mt).

China was responsible for 37% or nearly $1 billion worth of steel purchases from Iran over the four months to late July as the country took delivery of 6.711 million mt of the Iranian steel shipments over the period, said IMIDRO.

It said Iranian steel exports to Iraq had reached 1.475 million mt worth nearly $497 million over March-July, making the Arab country the smallest customer of the Iranian steel shipments over the period.

The World Steel Association (WSA) announced in August that Iran’s steel production in the first seven months of 2023 (January-July) has increased 4.1 percent.

Iran produced 18,100,000 tons of crude steel from January to July 2023, showing a 4.1 percent rise compared to the same period last year, the WSA said in its report.

Iran’s crude steel production in July of the current year reached 2 million tons, registering a 1.5 percent down compared to last year’s July.

The report said 63 countries of the world produced 1,103,200,000 tons of crude steel from January to July 2023, recording a 0.1 percent decline compared to the last year’s corresponding period.

China is the leading steel producer in the world with the production of 626,500,000 tons, followed by India, Japan, the US and Russia, the association added.

Meantime, the WSA reported that the global production of steel has shown a 0.1 percent decrease.

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