Mobarakeh Steel reports its highest billet output in 33 years

Saeed Zarandi, chief executive of Mobarakeh Steel, told the company's annual general meeting, reported on Sunday, 2 August 2026, that output reached about 7,054,000 tonnes in the Iranian year 1404, the highest billet production in Mobarakeh's 33 years of operation. He said crude steel output across the Mobarakeh Steel group rose 8.3 percent in 1404, pellet production rose 22 percent, and direct reduced iron output grew about 16 percent to roughly 11 million tonnes.

Zarandi said group exports reached 1.1 billion dollars in 1404, against a target of 1 billion dollars set at the start of the year. He described the result as coming in a year when the company faced energy restrictions, the 12 day war, disruption to contractor activity and interruptions in access to global markets, adding that the gas price rose from about 2,800 toman at the start of his tenure to roughly 11,200 toman in Esfand 1403 and then 16,500 toman in Dey.

He also said Iran held its position as the world's tenth largest steel producer in 2025 with output of about 32 million tonnes, and that global steel overcapacity is forecast to exceed 700 million tonnes by 2028.