Iran's two largest steel plants have been shut down due to multiple rounds of US-Israeli air strikes, the companies operating them say. 'Our initial estimate is that restarting these units will take at least six months and up to one year,' Mehran Pakbin, deputy head of operations at the Khuzestan Steel Company in south-western Iran, was quoted as saying by Iranian media. Mobarakeh Steel Company reported that its production lines in the centre of the country had 'completely shut down following the high volume of attacks.' The strikes, which Israeli media and Iran's foreign minister said were first launched by Israel in coordination with the US, could cause major damage to Iran's economy. Iran ranks as the 10th largest producer of steel globally, and any halt to production could have significant implications on supply chains and businesses across the country, which have long been affected by comprehensive Western sanctions. Israeli media reported that the strikes were expected to cause billions of dollars in damage to the Iranian economy, and that the steel plants were linked to Iran's Islamic Revolution Guard Corps (IRGC). The IRGC has stated it targeted US-linked steel and aluminum facilities in Gulf states in retaliation. Furthermore, US President Donald Trump and Defense Secretary Pete Hegseth have suggested escalating the conflict by threatening Iran's infrastructure.