Iran produced over 12.888 million tons of crude steel in the first half of the current Iranian calendar year (March 21-September 22).
The Islamic Republic has been subjected to sanctions across various businesses since the United States withdrew from the nuclear agreement, including the steel industry. Organizations and persons linked to Iran’s steel sector have been sanctioned by the United States. Twelve Iranian steel and other metal manufacturers to The U.S. Department of the Treasury added sanctions list in early January.
When questioned about Iran’s resistance to the United States’ so-called “maximum pressure” approach, the experts said the Islamic Republic had opposed it for the previous three years. The Trump administration had failed to accomplish any aims in light of sanctions on Iran. Also, individuals working in Iran’s steel industry thought that the country’s 40-year-old sanctions had little to do with the country’s steel production.
According to the Iranian Steel Producers Association (ISPA), for example, Iran is one of the world’s top ten steel manufacturing nations, and sanctions against the country’s steel sector seem doubtful at this time due to the success of Iran’s steel industry. The fact that Iran is among the world’s top steel producers implies that the country’s slide in the steel-producing nations is unlikely, according to Bahador Ehramian.
You might be interested in
- Cliffs CEO optimistic demand for steel will return as automakers resume production
- Iron Ore Price boosted as a result of Resilient China Steel Production.
- China stainless steel hits nine-month high as local demand recovers.
- The Decarbonizing Capability of Hydrogen: A Source to Reduce Emissions in Iron and Steel Production
- Could steel prices soon hit $1,000/ton in the new year?
Iran’s robust steel industry can’t be damaged by sanctions, as shown by studies and figures issued by foreign organizations and Iranian sources alike. Figures from the Iranian Steel Producers Association, Iranian steel businesses produced 30.2 million tons of steel (which concluded on March 20), representing a 3% yearly increase.
Iran produced 17.8 million tons of crude steel between January and July 2021, up 9.9%, World Steel Association (WSA). Iran produced 2.6 million tons of crude steel per month in July 2021, up to nine percent from July 2020. During the period covered by the research, Iran remained the world’s 10th largest steel producer.
Iran’s steel exports increased by 48 percent compared to the same period last year, according to major Iranian steel producers Mobarakeh Steel Company, Khuzestan Steel Company, Esfahan Steel Company, and Hormozgan Steel Company, among others. For one of Iran’s largest steel companies, Mobarakeh Steel Company, sanctions have not only not bent the company’s back, but they’ve resulted in several records being broken.
Despite all the external pressures and impediments, such as U.S. sanctions and the coronavirus pandemic, which has severely hampered the performance of the world’s top manufacturers, the Iranian steel sector has continued to expand steadily in recent years.
The country’s steel chain’s production capacity was 123 million tons. In the previous year, it was 230 million tons, according to the Iranian Industry, Mining, and Trade Ministry.
Iran is now ranked tenth in terms of global steel production, with plans to rise to seventh by March 2025.