Iran: Finished steel production rises 14% y-o-y in Mar-Nov'22

Iran's steel production registered a 14% increase in the first eight months of the current Persian year (March-November, 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 21.13 million tonnes (mnt) in the period under review, up 14% y-o-y. Billets and blooms accounted for 12.83 mnt of the total semis output, up 18%, y-o-y, while slabs production increased by 10% y-o-y to 8.30 mnt.
  
  
• Total production of finished steel stood at 14.74 mnt in the period under review, higher by 14% y-o-y. Production of both long and flat steel stood at 8.65 mnt (up 17%) and 6.09 mnt (up 10%), respectively.
  
  
• As per ISPA data, direct reduced iron (DRI) production stood at 24.16 mnt in the first eight months of the Iranian year, an increase of 20% compared to the same period last year.
  
  

Outlook

Iran's steel production volumes are expected to be on the higher side. However, steel mills are ordered to reduce power consumption by 30% which may impact production volumes in the near term, sources informed.