Iran Exports over 24 Million Tons of Steel Products in 10 Months

The Iranian Steel Producers Association (ISPA) announced that the value of steel products exported from the country between March 21, 2023, and January 22, 2024, stood at $6.2 billion.

It also added that Iran’s exports of iron ore concentrate was ten-folded in the same period.

Earlier, in January, the ISPA had announced that the demand for steel products or steel consumption in Iran increased in the first nine months of the Iranian calendar year (March 21, 2023- December 20, 2023) compared to the same period last year.

It 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.

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