In a recent release of worldwide steel production statistics by the World Steel Association, it was revealed that Iran experienced a notable decline in steel output last month. The statistics shed light on the state of global steel production in September and the first nine months of 2023.
According to the World Steel Association's report, Iran's steel production for September 2023 plummeted by 12.7% compared to the same month in the previous year, reaching a total of 2.4 million tons. This drop has set Iran's crude steel production at 22.1 million tons for the first three quarters of 2023, signifying a 0.6% decrease when compared to the same period in 2022. Despite this decrease, Iran still maintains its position as the world's tenth-largest steel producer. The primary cause behind the relative decline in Iran's steel production has been identified as electricity restrictions, which have had a substantial impact on the country's industrial operations.
On a global scale, the World Steel Association reported that worldwide steel production amounted to 149.3 million tons in September 2023, reflecting a 1.5% decrease when compared to the corresponding month in the previous year. Over the course of the first nine months of 2023, the world's total steel production reached 1.406 billion tons, indicating a marginal growth of 0.1%. These figures illustrate the intricate dynamics at play in the global steel industry, influenced by factors such as economic fluctuations, supply chain disruptions, and environmental concerns.
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