Iran is a key player in the global steel trade and naturally global markets are watching keenly which way the tide will turn if the war escalates further. Iran is the 10th highest crude steel producer, as per worldsteel. In January-December, 2023, its crude steel production touched over 31 mnt, rising almost 2% y-o-y. Iran’s finished steel exports in the last Persian year (21 March, 2023-20 March, 2024) touched 3.44 million tonnes (mnt), up 7% y-o-y, while total semi-finished exports rose 6% to almost 8 mnt.
