Iran: Apparent steel usage rise by 20% y-o-y, during 20 Mar-20 Oct’20

During the first seven months of the current Iranian Year (20 Mar-20 Oct’20), the country’s steel usage stood at ~12 mn t, up by 20% y-o-y. However, marketers believe that the rise is mostly due to speculative and hoarding activities considering the ongoing stagnation in the country’s economy, especially in civil projects and the construction sector.