16.3% growth of steel production in 1402 compared to 1401
According to the statistics of the World Steel Association, in the first quarter of 2024, steel production in the world has increased by 0.5% compared to the same period of the previous year. Meanwhile, the production of steel in Iran has grown by 16.3% during this period, and in this regard, it has taken the first place among the countries of the world.
Effective factors in the growth of Iran’s steel production
Increasing domestic demand for steel due to booming construction activities
Increase in steel exports due to the cancellation of some sanctions
Utilization of new steel production capacities
The impact of this growth on Iran’s economy
The growth of steel production can have several positive consequences for Iran’s economy, including:
Increase employment
The prosperity of steel-related industries
Increase in export earnings
Strengthening the country’s infrastructure
Challenges facing Iran’s steel industry
Despite these achievements, Iran’s steel industry is also facing many challenges, including:
Lack of raw materials such as iron ore and scrap
Increase in the price of energy carriers
Exchange rate fluctuations
Competing in global markets
The future perspective of Iran’s steel industry
Despite the existing challenges, the future prospects of Iran’s steel industry seem bright. Iran has abundant reserves of iron ore and skilled labor, and also has significant capacities to increase steel production.
Experts’ opinion
Experts believe that by solving the existing challenges, Iran’s steel industry can achieve a more important position in the world markets and contribute to the economic growth and development of the country.
