Iran’s steel production registered a 15% increase in the first seven months of the current Persian year (March-October, 2022), according to the latest 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 18.26 million tonnes (mnt) in the period under review, up 16% y-o-y. Billets and blooms accounted for 11.09 mnt of the total semis output, up 19%, y-o-y, while slabs production increased by 11% y-o-y to 7.17 mnt.
- Total production of finished steel stood at 12.67 mnt in the period under review, higher by 15% y-o-y. Production of long steel and flat steel stood at 7.36 mnt (up 17%) and 5.31 mnt (up 12%), respectively.
- As per ISPA data, direct reduced iron (DRI) production stood at 20.74 mnt in the first seven months of the Iranian year, an increase of 19% compared to the same period last year.
Outlook
Iran’s steel production volumes are expected to be on the higher side after the Ministry of Energy gave approval for easing power restrictions in the country. However, ongoing social unrest in the country and news of gas restrictions in the upcoming winter season may impact production volumes, sources informed.
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