Iran: Finished steel imports rise over 60% y-o-y in eleven months of current Persian year

Iran's finished steel imports in the first eleven months of the current Persian year (21 March-20 February, 2024) stood at 1.44 million tonnes (mnt), a significant rise of 63% compared to the same period of last year, according to the recent data from Iranian Steel Producers Association (ISPA).

In addition to Iranian DRI and billet producers, the flat steel segment has also experienced the consequences of gas consumption limitations, resulting in a lower supply of these products and higher interest in imports.

• Imports of long products were recorded at 95,000 tonnes (t), down by 37% y-o-y, while flat products' import volumes rose sharply by 84% y-o-y to 1.34 mnt.
  
  
• Imports of semi-finished steel products totalled just 3,000 t, a decrease of 50% y-o-y. Entire volume of imported semi-finished steel were reported to be billets while slab imports remained nil.
  
  

Outlook

Iran's finished steel import volumes are expected to remain on a higher side considering the limitations faced by steel mills in the domestic market.