Thursday, 07 September 2023 06:26

Finished steel output edges up y-o-y in first five months of current Persian year

Iran's finished steel production increased marginally by 4% y-o-y to 9.42 million tonnes (mnt) in the first five months of the current Persian year (21 March-20 August, 2023), according to data released by the Iranian Steel Producers Association (ISPA).

  • Out of total production, long steel stood at 5.39 mnt (up 4% y-o-y) and flat steel was at 4.02 mnt (up 38% y-o-y).

  • Semi-finished steel output stood at 13.02 mnt, up 3% y-o-y. Billets and blooms accounted for 8.23 mnt of the total semis output, up 7% y-o-y, while slabs production inched down by 4% y-o-y to 4.79 mnt.

  • As per ISPA data, direct reduced iron (DRI) production stood at 15.69 mnt in the period under review, an increase of 8% y-o-y.

Outlook

Recent announcement of reimposition of export duties by the Iranian government may result in a decrease in exports volumes affecting production, SteelMint notes. Also, the ongoing discussions on revising gas pricing mechanism may impact steel production levels in Iran, specially during winters.

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