Iran: Semi-finished steel production falls by over 5% y-o-y in H1 of current Persian year

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

According to Petrometals, Iran's semi-finished steel output stood at 14.33 million tonnes (mnt) in the first half of the current Persian year (21 March 2024-20 September 2024), a decrease of 7% from 15.38 mnt in the same period last year. Production volumes declined due to the Iranian government's power supply restrictions on steel mills.

• Billets and blooms accounted for 8.75 mnt of total semis output, down by 10% y-o-y.
  
  
• Production of slabs inched down by 1% y-o-y to 5.58 mnt.
  
  

As per data, direct reduced iron (DRI) production stood at 20.97 mnt in the period under review, a rise of 11% compared to 18.94 mnt in the year-ago period. The significant increase in DRI production can be attributed to the operation of new direct reduction units during the last winter and spring of this year.