Iran: Steel production rises by 20% y-o-y in Mar-Aug'22

Iran's steel production in the first five months of the current Persian year (March-August, 2022) registered a significant 20% increase y-o-y, according to the latest data released by the Iranian Steel Producers Association (ISPA).

Iran's steel production volumes remained supported as electricity consumption restrictions were better managed this year as against the corresponding period last year (CPLY).

• The country produced 12.65 million tonnes (mnt) of semi-finished steel in the period under review, up 17% y-o-y. Billets and blooms accounted for 7.67 mnt of the total semi-finished output, up 18%, y-o-y, while slabs production increased by 15% y-o-y to 4.98 mnt.
  
  
• Total production of finished steel stood at 9.05 mnt in the period under review, higher by 20% y-o-y.
  
  
• Production of long and flat steel stood at 5.18 mnt (up 21%) and 3.87 mnt (up 20%), respectively in March-August, 2022.
  
  
• As per ISPA data, direct reduced iron (DRI) production stood at 14.65 mnt in the first five 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 has given approval for easing power restrictions in the country and steel mills will be supplied electricity from 11 pm to 8 am without any disruption.