SynopsisIran is targeting an annual steel production capacity of 55 million metric tons by 2025, according to a member of the Iranian Steel Producers Association. The country's current steel output capacity stands at 45 million mt per year. Iran intends to increase its steel production capacity by more than 22% in the next two years. Over half of Iran's current steel output is exported, and the country seeks greater access to export markets despite maintaining domestic demand at around 20 million mt per year, reports Mehr NewsIran has significantly increased its steel exports this year due to higher domestic production and international supply constraints caused by the Ukraine conflict. Despite US sanctions restricting access to normal banking services, Iran's steel exports have continued to rise.Iran's steel industry is on a growth trajectory, aiming for substantial expansion in the coming years.ArticleIran's steel industry is setting ambitious targets, with plans to achieve an annual steel production capacity of 55 million metric tons by 2025. This announcement comes from Bahador Ehramian, a board member of the Iranian Steel Producers Association.Ehramian highlighted the remarkable growth of Iran's steel production capacity over the past two decades, increasing by more than sixfold to reach its current level of 45 million mt per year. He further projected a substantial growth of over 22% in the steel output capacity within the next two years.Interestingly, more than half of Iran's current steel production is destined for international markets. Despite this robust export activity, Iran aspires to expand its presence in global steel markets. Domestic steel demand is expected to remain stable at approximately 20 million mt per year in the foreseeable future.Iran's steel industry has experienced a significant surge in exports this year, driven by increased domestic production and the global supply disruptions caused by the conflict in Ukraine. Data from ISPA, published in early September, revealed a 24.8% year-on-year increase in exports of semi-finished steel from Iran during the first five months of the year, reaching 3.093 million mt.In addition to semi-finished steel, Iran also witnessed a 15% year-on-year growth in exports of steel sheets and long steel products from March to August. Notably, overseas shipments of sponge iron surged by an impressive 232% during the same period, totaling 0.708 million metric tons.Remarkably, Iran's steel exports have continued to grow despite the challenges posed by US sanctions, which restrict access to normal banking services for exporters and their foreign customers.Conclusion,Iran's steel industry is on a path of expansion, with ambitious goals to increase its production capacity. The industry's ability to maintain robust export growth, even in the face of sanctions, underscores its resilience and competitiveness in the global steel market.