Iran: Steel production drops 3% y-o-y in first 5 months of current Persian year

• Power supply curbs impact output
• DRI production rises 11% y-o-y

Iran’s finished steel production in the first five months of the current Persian year (21 March 2024 to 20 August 2024) stood at 9.17 million tonnes (mnt), a drop of 3% compared to the same period last year, according to the latest data released by the Iranian Steel Producers Association (ISPA). Production volumes declined due to power supply restrictions on steel mills by the Iranian government.

Of the total volume, the production of long products was recorded at 4.92 mnt, down by 9% y-o-y, while flat product output rose by 6% y-o-y to 4.25 mnt.

Meanwhile, semi-finished steel output stood at 12.17 mnt in the period under review, a decrease of 5% as against 12.87 mnt in the same period last year. Billets and blooms accounted for 7.43 mnt of total semis output, down by 8% y-o-y. Production of slabs inched down marginally by 1% y-o-y to 4.74 mnt.

As per data, direct reduced iron (DRI) production stood at 17.51 mnt in the period under review, a rise of 11% compared to 15.69 mnt in the year-ago period.