Iran boosts steel exports by 25% despite US sanctions
Iran's exports of steel ingots increased by 25% in the past Iranian calendar year (ended March 20) compared to the previous year, the Iranian Mine and Mining Development and Reconstruction Organization (IMIDRO) reported.
According to IMIDRO, the country's annual export of steel ingots was 7.678 million tons last year and 6.162 million tons in the previous year.
In recent years, the Iranian steel industry has been constantly developing, overcoming all obstacles, including those created by external forces, such as US sanctions and the coronavirus outbreak, which have seriously affected the activities of the world's leading manufacturers.
According to the latest report from the World Steel Association (WSA), Iran's liquid steel production increased by 11.8% to 5.3 million tons in the first two months of 2022, while the steel production of 64 of the world's top steel producers decreased by 5 .5%.
Iran ranked first among the world's leading steel producers in terms of production growth, followed by India, Germany, Russia and the United States.
According to the World Steel Association, as in the past two years, Iran has maintained its 10th place among the world's leading steel producers after countries such as China, India, Japan and Russia.
By the Iranian calendar year 1404 (March 2025), the country is expected to rise to the seventh place among the world's leading steel producers.