According to recent data released by the Iranian Steel Producers Association (ISPA), finished steel exports in the first half (H1) of the current Persian Year (Mar-Sept’21) stood at 1.62 million tonnes (mn t), registering a significant rise of 69% as against the same period last year.
- Exports of long and flat products in this period were recorded at 1.31 mn t and 0.31 mn t, up by 71% and 62%, respectively.
- The export volumes of billets and blooms in the first half of this Persian Year stood at 2.32 mn t, up by 17% as compared to the corresponding period last year (CPLY).
- The volumes of slab exports were at 1.17 mn t in Mar-Sept’21, a noticeable growth of 101% as against the same period last year.
Improved quality of manufactured products prepared the ground for Iranian companies to make their presence felt in the global markets.
The growth rate of the country’s steel production, which was 6% in the first three months of this year, had turned negative by around 14% in the first six months of this year due to power outages issues that the country experienced.
Restrictions on electricity consumption and widespread blackouts prevailed in the second quarter, affecting the growth rate of steel exports.
The losses caused by power outages for steel mills (only those falling under the Iranian Mines and Mining Industries Development and Renovation Organisation) may reach $235 million per week, Iran’s Deputy Minister of Industry, Saeed Zarandi, estimated.
At the same time, the Mining Industries Office of the government of Iran had removed the names of 84 companies from the list of authorised exporters of long steel products.
However, later, it softened the restrictions. Further, the government extended the export licences for one more month – till Oct’21.
Despite the ups and downs in the last few months, the Iranian steel industry managed to export higher volumes in the first six month of the current Persian Year compared to last year.
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