Iran has ranked 10th in the world in terms of crude steel production in 2018 despite harsh economic sanctions imposed on the Islamic Republic, according to the latest report released by the World Steel Association (WSA).
Iran’s steel industry held a very good record in 2018, overtaking three of the world’s major steel producers, namely Italy, Taiwan, and Ukraine, in terms of annual output, the report said.
Iran’s steel production in 2018 increased by 17.7 percent compared to a year earlier, amounting to 25 million tons. Iran had produced 21.2 million tons of steel a year earlier.
Producing 928 million tons of steel, China was the world’s largest producer in 2018, India ranked 2nd with 106 million tons, and Japan ranked third with 104 million tons.
According to the WSA report, Iran had ranked 13th among major steel producers of the world in 2017.
The World Steel Association represents approximately 170 steel producers (including 9 of the world’s 10 largest steel companies), national and regional steel industry associations, and steel research institutes. Its members represent around 85% of world steel production.