The state develops industry in conditions of international economic restrictions.
Iran increased its steel production by 5.9% in April, while the global average fell by 2.4%. In total, the republic melted 9.7 million tons of this product.
Overall, steel production on the planet is declining: 622.7 million tons were produced in the first four months of 2023, 13% lower than last year.
Iran is developing its steel industry despite Western sanctions and the recent coronavirus outbreak. Today, the republic ranks eighth in the world in steel production and first in growth rates.
A similar situation is typical for developing industrial countries, since in the post-industrial economy the steel industry is declining due to the production of light and strong materials, primarily polymers.
I am Jackson Root, a professional writer and news author at The News Dept. I have been in the industry for over five years now and I specialize in covering trending news stories. I have been part of several high profile projects that made a significant impact on the industry.