BAKU, Azerbaijan, August 25. Iranian steel mills have manufactured approximately 18.1 million metric tons (mt) of the mineral during the initial seven months of 2023, Trend reports.
According to the report from the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran's production from January through July 2023 exhibits a 4.1-percent rise, compared to the corresponding period last year.
In July, Iran generated around 2 million mt of steel, reflecting a 1.5-percent decrease compared to the figures reported in July 2022.
Reportedly, Iran's annual steel production capacity is around 40 million tons. Iran plans to increase the figure to 55 million tons by 2025.
Meanwhile, a total of 1.103 billion mt of steel has been made globally in the period under review which shows a 0.1-percent year-on-year decrease. Global steel output experienced a notable increase of 6.6 percent year-on-year, reaching 158 million mt in July.