Iran Records Increased Demand for Steel Products

Iran Steel Producers Association (ISPA) released its statistics about the production and demand for steel and sponge iron products during March, 21, 2023 till December 20, 2023 and said that the domestic consumption of iron and steel chain in the country increased by 1.2% to 6.6% compared to the same period last year.

According to ISPA figures, only the demand for long steel products in that 9-month period was slightly less than the same period in the year 1401.

9.671 million tons of long steel bars were produced, of which 7.601 million tons were consumed internally, which shows a 1.4% decrease compared to its apparent consumption in the same period last year, which was 7.711 million tons.

During that period, 7.315 million tons of steel flat bars were consumed, which has experienced an increase of 6.6% compared to their consumption in the first nine months of last year, equivalent to six million and 860 thousand tons.

Meanwhile, the production of steel products increased to 16.6 million tons, of which 15.238 million tons were demanded for domestic consumption. The internal demand for these products showed an increase of 3% compared to last year, which was 14.795 million tons.

During that period which covers the first three seasons of the year, the demand for sponge iron grew by 4.4% and reached 26,874,000 tons from last year’s 25.740 tons. In the first 9 months of the current Iranian year of 1402, more than 28 million tons of sponge iron were produced in the country, of which only 1.214 tons were exported.

Of the total of 24.492 million tons of steel ingots produced in Iran with a growth of 1.7% compared to last year’s 9-month period, 18.874 million tons was domestically consumed and about 5.6 million tons of which was exported.

The ISPA figures further showed that the domestic demand for iron ore pellets in Iran in the 9-month of the year 1402 was recorded at 37.619 million tons, showing a 1.2% increase compared to the 37.167 million tons consumed in the first three seasons of 1401.

4155/i