Iran produced 10.14 million tons of crude steel in the first five months of 2018, indicating a growth of 24.25 percent compared with the figure for the same period of 2017, which was 8.16 million tons.
Canada and Mexico retaliated with levies on billions of dollars of US goods and the European Union announced it would take the United States to the World Trade Organization to challenge the legality of its new tariffs, after Washington risked a global trade war to impose limits on steel and aluminum.
US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday.
Chinese exports of steel products may continue to fall this year due to strong domestic demand and reductions in capacity due to environmental commitments, the chairman of state-owned mill Fujian Sangang Group Co Ltd said.
Iran is establishing a consortium of private re-rollers to boost exports of the product, said a member of the board of directors of Iranian Steel Producers' Association (ISPA) and managing director of the country's largest re-roller Kavir Steel Complex.
A 1.3-million ton steel production unit and a 500-megawatt combined-cycle power plant will become operational in Ardakan, central Iranian province of Yazd by Chadormalu Mining and Industrial Company (CMIC) during the 10-day ceremonies (February 1-11) to mark the anniversary of the victory of Iran's 1979 Islamic Revolution.