What Mobarakeh Steel Company does

Mobarakeh Steel Company (MSC) is Iran's largest integrated flat steel producer, operating from a 35 square kilometer industrial complex near the city of Mobarakeh, 75 km southwest of Isfahan. Construction began in 1981 during the Iran-Iraq war, with the first electric arc furnace coming online in October 1991 and the facility officially inaugurated on January 12, 1992. The company operates a fully localized, continuous value chain spanning iron ore mining and pelletizing (via subsidiaries such as Sangan Mining and Opal Kaniyan Parsian), MIDREX direct reduction (six Series 600 modules and one Series 800 module, plus two 1.5-million-ton mega-modules at the Shahid Kharrazi unit, totaling approximately 8.2 million tons/year of sponge iron), eight 200-ton electric arc furnaces with up to 90% DRI / 10% scrap charging, five continuous casting machines producing roughly 4 million tons of liquid steel and 3.2 million tons of slabs, hot rolling (~5.5 million tons/year of hot-rolled coils 1.5–16 mm thick, 600–1,880 mm wide), and cold rolling (~1.6 million tons/year across cold-rolled, galvanized, tin-plated, and color-coated products). Group crude steel capacity stands at 12.8 million tons per year across 100+ affiliated companies.

The company generates revenue primarily through B2B sales of flat steel products to Iranian industrial manufacturers and export markets. Domestic sales run through three channels: direct sales contracts to large industrial customers (minimum 1,000 tons/year for hot-rolled, 500 tons for cold-rolled/coated, 200 tons for tinplate), competitive bidding on the Iran Mercantile Exchange (IME), and a network of provincial service centers across all major Iranian provinces serving smaller buyers. Export sales are priced FOB from a dedicated warehouse in the Bandar Abbas Special Economic Zone, split between Far East & Europe and Middle East regions, with an 800 km rail/road logistics chain from the Mobarakeh complex to the port. Key customer verticals include automotive OEMs and tier-1 parts suppliers, appliance manufacturers, construction and structural steel producers, pipe and profile manufacturers, tinplate packaging producers, and shipbuilders; the network serves more than 1,000 downstream factories supported by 2,500+ suppliers and a workforce exceeding 60,000 across the group ecosystem.

Mobarakeh is publicly listed on the Tehran Stock Exchange as a joint-stock company with a market capitalization of approximately 519 trillion rials, contributing roughly 1% of Iran's GDP and 4.2% of its industrial GDP. It holds ISO 9001:2015, ISO 14001:2018, ISO 45001:2018, and ISO 50001:2018 certifications, plus CE marking (EN 10025-2004) for hot-rolled structural products enabling EU market access. In 2025 it ranked 43rd globally among steel producers (up from 44th) with 10.29 million tons of crude steel, and received the first five-star International Sustainability Excellence Award among Iranian companies. The facility was struck in late March 2025 by military airstrikes, triggering a four-phase reconstruction program that has restored Electric Arc Furnace No. 8 within 45 days, retained all 30,000+ direct workers, and mobilized financing from Bank Mellat, Bank Tejarat, Bank Refah Kargaran, and Ghadir alongside 104 Iranian knowledge-based companies.

Name

Mobarakeh Steel Company

Legal name

Mobarakeh Steel Company (Esfahan's Mobarakeh Steel Company)

Website

https://msc.ir

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mobarakeh Steel Company is Iran's largest integrated flat steel producer, operating a full-cycle EAF/MIDREX complex near Isfahan with 12.8 million tons per year of group crude steel capacity. It serves over 1,000 downstream factories across automotive, appliance, construction, packaging, and pipe industries through direct sales, the Iran Mercantile Exchange, and exports via Bandar Abbas.

Ownership category

akta.pro rank

Product category

Flat Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (3311), Iron and Steel Mills and Ferroalloy Manufacturing (331110)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)

akta.pro primary industry

Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE)

akta.pro secondary industries

Coated & Plated Steel (Galvanized, Galvalume, Tinplate, Electrogalvanized, Color-Coated) (IMAKABAG), Steel Casting (Continuous Casting, Ingots, Semi-Finished Slabs/Billets/Blooms) (IMAKABAD), Steel Service Centers & Processing (Slitting, Cut-to-Length, Blanking, Leveling) (IMAKABAL)

Keywords

• Flat steel manufacturing
• Integrated steel production
• Hot rolled coils
• Cold rolled sheets
• Galvanized steel products

Headquarters

HQ city

Isfahan

HQ country

Iran

HQ region

Middle East

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Domestic steel product sales: Sale of flat steel products (hot-rolled, cold-rolled, galvanized, tinplate, color-coated) to Iranian industrial manufacturers through direct sales contracts, stock exchange (IME), and provincial service centers. Minimum order thresholds apply for direct sales (1,000 tons/year for hot-rolled, 500 tons for cold-rolled/coated products).
2. Export steel sales: International sales of steel products to Far East, Europe, and Middle East markets via FOB pricing from Bandar Abbas port, with dedicated export warehouse facility.
3. Group ecosystem revenues: The broader group generates revenues from mining, pelletizing, logistics, energy generation (solar power), financial investments, and technology services across its 100+ affiliated companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Mobarakeh Steel Company operates a fully integrated flat steel production complex that manufactures a complete range of steel products from iron ore to finished coated sheets. Its core offerings include hot-rolled coils and sheets, cold-rolled sheets, galvanized sheets and coils, electrolytic tin-plated steel (tinplate), and color-coated pre-painted coils, supplied primarily to industrial manufacturers in the automotive, home appliances, construction, pipe/profile, packaging, and shipbuilding sectors through direct sales, the Iran Mercantile Exchange, and export channels.

Product overview

Mobarakeh Steel Company (MSC) operates as an integrated flat steel producer based in Mobarakeh, Isfahan Province, Iran. The company's core production chain spans five interconnected stages: Ironmaking (producing sponge iron via Midrex direct reduction technology with ~8.2 million tpa capacity), Steelmaking and Continuous Casting (melting in 8 electric arc furnaces and casting slabs with ~4.0 million tpa liquid steel capacity), Hot Rolling (~5.5 million tpa of hot-rolled coils and sheets), and Cold Rolling (~1.6 million tpa across cold-rolled, galvanized, tin-plated, and color-coated products). The Cold Rolling area produces the broadest product range, including cold-rolled sheets, galvanized coils, tin-plated sheets, and pre-painted color-coated coils. MSC's subsidiary, Saba Steel Complex (مجتمع فولاد و نورد سبا), specializes in continuous-cast flat products and advanced automotive steels. A network of Support Units — covering maintenance, energy and fluids, transportation, and technical inspection — underpins all manufacturing operations. The company holds the rank of 43rd largest steel producer globally (World Steel Association, 2025, producing 10.19 million tonnes of crude steel), and is the largest flat steel producer in the Middle East and North Africa.

Differentiator

Problem solved

Functional benefit

Brands

• SteelVision Magazine: International English-language magazine published by Mobarakeh Steel Group
• IRASIN News Portal
• Kargar (SteelVoice)
• Foolad Negar

Products and services

• Ironmaking - Sponge Iron / Direct Reduced Iron (DRI)
• Steelmaking and Continuous Casting - Slabs, Blooms, and Billets
• Hot-Rolled Steel Coils and Sheets
• Cold-Rolled, Galvanized, Tin-Plated, and Color-Coated Steel Sheets and Coils
• Saba Steel Complex - Stainless Steel, Structural Steel, and Advanced High-Strength Steels
• Steel-Group Wide Slabs via Foolad Hormozgan (Wide Slabs up to 2,000 mm)
• Tinplate for Food and Beverage Packaging
• Color-Coated (Pre-Painted) Steel Coils for Building Envelopes

Quantifiable outcome

• 10.29 million tons of crude steel produced in 2025, ranking 43rd globally among steel producers
• +5 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered strategic, core and minor.

• Iran International Engineering Company (Iritim)strategicImplementation/ SI/ Consulting Partner · 1 April 2025The CEO of Mobarakeh Steel Group and members of the board met with Iritim's CEO to discuss expanding strategic cooperation. Iritim serves as a key engineering and technical consulting partner for development and reconstruction projects.
• Sangan Iron Ore Mine Complex (SIC)coreStrategic or Co-development Partner · 1 April 2025Sangan Iron Ore Complex (a subsidiary within the Mobarakeh Group ecosystem) supplies iron ore concentrate and pellets essential for Mobarakeh's direct reduction operations. The complex has produced 29 million tons of pellets and 15.8 million tons of concentrate cumulatively.
• Sanap Energy (Clean Energy and Power Industries Company)coreStrategic or Co-development Partner · 1 April 2025Sanap Energy is executing Iran's largest solar power plant (600 MW) for Mobarakeh Steel as part of the green steel transition strategy. Operating the first unit of the Shomali Shargh solar power plant. Achieved 1,000 billion tomans net profit in fiscal year 1404.
• Foolad Hormozgan SteelcoreStrategic or Co-development Partner · 1 April 2025Within the Mobarakeh Group, Foolad Hormozgan provides slab production (up to 1.54 million tons of wide slabs up to 2,000 mm width) and sponge iron, contributing to the integrated supply chain. Produces the heaviest slabs in Iran at 46 tons each.
• Golgohar Mining and Industrial CompanycoreStrategic or Co-development Partner · 1 April 2025Golgohar Mining supplies iron ore concentrate to Mobarakeh Steel, sourced from mines in Kerman, Yazd, and Razavi Khorasan provinces, transported via rail to the Mobarakeh complex.
• Opal Kavan ParsminorStrategic or Co-development Partner · 1 April 2025Opal Kavan Pars is the first pelletizing pioneer in the Sangan Special Mining Zone, producing concentrate (1.3 million tons/year) and pellets (5 million tons/year) to support Mobarakeh's raw material supply chain.
• Saba Steel and Rolling ComplexcoreStrategic or Co-development Partner · 1 April 2025The Saba complex (annexed to Mobarakeh in 2006) produces hot-rolled structural products and specialty steels including stainless steel, representing the only continuous caster producer in Iran and a regional leader in the MENA region.
• Tavanavar Aseya (special tinplate producer)coreStrategic or Co-development Partner · 1 April 2025Tavanavar Aseya is Iran's largest tinplate producer with 150,000 tons/year capacity, forming the downstream tinplate value chain that relies on Mobarakeh's supply of cold-rolled substrate coils.
• IriSAA (International Systems and Automation Company)coreTechnology or Integration · 1 April 2025IriSAA is the largest industrial automation systems provider in Iran's steel industry, delivering enterprise-wide information systems integration, network infrastructure, cybersecurity, and digital transformation consulting services to Mobarakeh.
• Novin Electrode ArakcoreTechnology or Integration · 1 April 2025Novin Electrode Arak is the first graphite electrode producer in Iran and the Middle East with capacity of 30,000 tons/year (expandable to 90,000 tons). Supplies critical graphite electrodes (UHP and HP grades, 300-750 mm diameter) to Mobarakeh's electric arc furnaces.
• Foolad Sefid Dasht (Chaharmahal-Bakhtiari steel project)minorStrategic or Co-development Partner · 1 April 2025Foolad Sefid Dasht produces sponge iron with metallization rates above 92% and capacity of 800,000 tons/year, the only producer of slabs with thicknesses of 150 and 200 mm in Iran.
• Mobarakeh Steel Innovation Center (in Isfahan University of Technology)strategicStrategic or Co-development Partner · 1 April 2025Innovation center established in Isfahan University of Technology to leverage academic scientific capabilities for identified steel industry priorities, driving technology transfer and joint R&D.
• Iranian knowledge-based companies (over 104 companies)coreStrategic or Co-development Partner · 1 March 2025104 Iranian knowledge-based companies expressed readiness to participate in Mobarakeh Steel's reconstruction and development projects, contributing specialized technologies and engineering capabilities to accelerate recovery.

Scale indicators13 records

Recent moves14 records

Expansion highlights4 records

Broad incumbents

• Hyundai Steel: Korean integrated steelmaker producing flat steel for automotive and construction markets, including auto-grade coated products. Comparable in automotive steel focus and integrated production model, though with broader Asian market reach.
• POSCO: Korean integrated steelmaker producing flat steel (hot-rolled, cold-rolled, galvanized, electrical steel) using DRI-EAF and blast furnace routes. Comparable product portfolio in coated flat steel for automotive and appliances, though at much larger scale and global reach.
• Tata Steel: Integrated Indian steel producer with substantial flat steel capacity and automotive-grade products. Comparable value chain from iron ore to coated products, though Tata operates across multiple geographies (India, UK, Netherlands).
• ArcelorMittal: The world's largest steel producer with fully integrated flat and long steel operations. Highly comparable as a global integrated steelmaker, but with broader geographic and product portfolio than Mobarakeh's MENA-focused flat steel focus.
• United States Steel Corporation: Integrated US flat-rolled steel producer with mini-mill (EAF) and integrated mill operations serving automotive, construction, and appliances. Comparable in EAF-based flat steel production and automotive customer focus, though in a different regulatory and market context.
• thyssenkrupp Steel Europe: German flat steel specialist producing high-quality hot-rolled, cold-rolled, and coated products primarily for European automotive and industrial customers. Comparable premium flat steel product mix, though in different geographic and competitive environment.

Regional players

• Hadeed (SABIC Steel): Saudi Arabia's largest steel producer (part of SABIC) and the most direct regional peer operating integrated flat and long steel production in the MENA region. Comparable in regional market dynamics and customer base (automotive, construction, packaging) but with Saudi-based GCC market focus.

Direct peers

• JSW Steel: Indian integrated steel producer with significant flat steel capacity serving automotive and infrastructure markets. Comparable in product mix (hot-rolled, cold-rolled, galvanized) and emerging-market positioning, with similar expansion trajectory.
• NLMK (Novolipetsk Steel): Russian flat steel producer focused on hot-rolled, cold-rolled, galvanized, and electrical steel with integrated iron ore and steelmaking operations. Closely comparable in flat steel product mix and downstream value-added focus, though NLMK has European-Asian geographic reach versus Mobarakeh's MENA focus.
• Severstal: Russian integrated steelmaker producing flat and long products with significant DRI capacity and downstream coating. Comparable integrated structure, though operates under different geopolitical and sanctions exposure context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeaparat.com/msc.ir
• Xx.com/Mobarakeh_steel
• LinkedInlinkedin.com/company/mobarakeh-steel

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mobarakeh Steel Company