TEHRAN - World Steel Association data shows that Iran’s crude steel production in July rose 34.1% from a year earlier to 2 million metric tons (mt).
The figures cited in a report by the Iranian Steel Producers Association showed that Iran’s steel output in the seven months to July had reached a total of 17.4 million mt, up 3.7% from the same period last year.
That came as global steel output fell by 5.4% in January-July to reach 1,102.3 million mt, according to the same figures which indicated that largest producer China also saw its output decline by 6.4% to 609.3 million mt over the same period.
Global production in July fell by 6.5% from last year to stand at 149.3 million mt, showed the figures.
An analysis published in the official IRNA news agency said that a major surge in Iranian steel output in July was mainly a result of a stable electricity supply provided to plants in the country in the early summer.
Iranian steel producers faced lengthy and recurrent power cuts last year mainly because of a surge in electricity demand in the country’s business and household sectors.
WorldSteel figures showed that Iran and India were the only countries among the 10 leading global steel producers who had recorded output increases in the seven months to July.
Russia recorded the biggest fall in output in January-July at around 7% as Western sanctions imposed on Moscow over a war in Ukraine continued to affect exports from the country.