Iran’s steel production rose by 12% in the first nine months of the current Persian year (March-December, 2022), according to data released by the Iranian Steel Producers Association (ISPA).
The country’s steel production volumes continued to remain strong as electricity consumption restrictions were better managed this year as against the corresponding period last year (CPLY) due to the coordination between the Ministry of Energy and the steel association.
- Semi-finished steel output stood at 23.79 million tonnes (mnt) in the period under review, up 13% y-o-y. Billets and blooms accounted for 14.45 mnt of the total semis output, up 16% y-o-y, while slabs production increased by 8% y-o-y to 9.33 mnt.
- Total production of finished steel stood at 16.59 mnt in the period under review, higher by 12% y-o-y. Production of long and flat steel stood at 9.74 mnt (up 15%) and 6.85 mnt (up 9%), respectively.
- As per ISPA data, direct reduced iron (DRI) production stood at 26.37 mnt in the first nine months of the Iranian year, an increase of 11% compared to the same period last year.
Outlook
Iran’s steel production volumes are expected to be on the higher side. However, steel mills had been mandated to reduce power consumption by 30% during the harsh winter season which may impact production volumes in the near term.
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