Iran Well On Its Way To 2025 Goal
Steel Insights|September 2017

Iran is rising in Asian steel market. As per World Steel Association (WSA) data, Tehran has already manufactured more than 66 percent of West Asia’s total steel production in July 2017, with volumes at 1.575 million tons (mt). Moreover, compared on a year-on-year (y-o-y) basis, there was a clear 16.58 percent rise in Iranian domestic production as it was 1.351 mt in July 2016.

Kingshuk Banerjee
Iran Well On Its Way To 2025 Goal

It is a clear 14 percent rise on a year-on-year basis at 11.522 mt during January-July, 2017 over 10.100 mt during January-July, 2016. And riding mainly on Iran’s resurgent economy, West Asian steel production increased from 16.492 mt in January-July, 2016 to 17.907 mt in January-July, 2017, a clear 8.58 percent jump.

And it is not the end of the story. As per the goals set in the 20-Year National Vision Plan (2005-25), Iran seeks to become the world’s 6th largest steelmaker by 2025 with a crude steel output capacity of 55 mt, out of which 14 mt would be exported.

According to West Asian observers, this surge in steel production could well be depicting Iran’s rise as a regional economic powerhouse in the near future, overcoming many an obstacle.

Challenging journey

Keeping in mind that Iran produced 17.895 mt of steel in 2016, the goal of 55 mt capacity by 2025 might be seen as a far cry to the critics. But Tehran has already hiked its capacity from 21 mt to 31 mt in the last 4 years. However, critics would still like to point out that producing 55 mt of crude steel would need 160 mt of iron ore, which, in turn, would require nearly 100 mt of increase in the current ore output. And this is while iron ore miners are grappling with liquidity issues, which prevent them from embarking on expansion plans.

The critics would further point out that the goal would also require exports of about 21 mt, with domestic demand standing at about an estimated 34 mt. Now, given the current global situation, there would be a very slim chance for Iranian steel to break into a new market, especially when overproduction has become a major issue in the global steel sector.

Esta historia es de la edición September 2017 de Steel Insights.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición September 2017 de Steel Insights.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE STEEL INSIGHTSVer todo
Steel's Net Zero mission
Steel Insights

Steel's Net Zero mission

The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.

time-read
10+ minutos  |
November 2021
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Steel Insights

Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales

Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.

time-read
5 minutos  |
November 2021
Seaborne coking coal offers remain range-bound
Steel Insights

Seaborne coking coal offers remain range-bound

Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.

time-read
3 minutos  |
November 2021
Global crude steel output down 8% in September
Steel Insights

Global crude steel output down 8% in September

China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.

time-read
1 min  |
November 2021
MOIL embarks on expansion projects
Steel Insights

MOIL embarks on expansion projects

“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister

time-read
5 minutos  |
November 2021
Iron ore handled by major ports down 17% in H1
Steel Insights

Iron ore handled by major ports down 17% in H1

The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.

time-read
1 min  |
November 2021
Shrinking China output to boost India exports
Steel Insights

Shrinking China output to boost India exports

“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd

time-read
4 minutos  |
November 2021
Indian Railways' iron-ore handling up 25% in H1
Steel Insights

Indian Railways' iron-ore handling up 25% in H1

Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.

time-read
1 min  |
November 2021
September crude steel production up 7.2% y-o-y
Steel Insights

September crude steel production up 7.2% y-o-y

India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.

time-read
2 minutos  |
November 2021
“Five enablers: way forward to sustainable cleaner steel”
Steel Insights

“Five enablers: way forward to sustainable cleaner steel”

Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.

time-read
10+ minutos  |
November 2021