Iran’s steel output hits 20 million-tonne milestone

Iranian steel production rose to 20.6 million tonnes in the first 10 months of 2018, up 19 per year-on year, data by the World Steel Association has showed.

Output grew 10.6 percent to 2.07 million tonnes in October, the Brussels-based international trade body for iron and steel said.

Iran is now the world’s 11th biggest steel producer, ranked between Italy with 20.61 million tonnes and Taiwan with 19.24 million tonnes.

Iran’s thriving steel industry is the target of US sanctions imposed in August and the growth shows the country’s bid to keep expanding the industry is not a fluke.

Last month, the Trump administration announced sanctions on Mobarakeh Steel Company, the largest steel maker in the Middle East and North Africa and one of the largest industrial complexes operating in Iran.

Iran’s steel industry has been growing rapidly in recent years in line with the country’s ambitious plan to raise output to 55 million tonnes per year by 2015.