BAKU, Azerbaijan, May 1. Iran’s raw steel consumption increased by 14 percent for the last Iranian year (March 21, 2022 through March 20, 2023), compared to the preceding year (March 21, 2021 through March 20, 2022), Trend reports via the report of the Iranian Steel Producers Association (ISPA).
More than 23 million tons of raw steel were consumed in the country last Iranian year, while the figure stood at 20.2 million tons in the preceding year.
Out of the mentioned 23 million tons, 13.4 million tons accounted for the country’s billet and bloom consumption, which is an increase of 16 percent compared to 11.5 million tons in the preceding Iranian year.
Meanwhile, the remaining 9.64 million tons accounted for the country’s slab consumption, which is an increase of 11 percent compared to 8.66 million tons in the preceding Iranian year.
In addition, Iran consumed 19.4 million tons of steel products over the last Iranian year, which is an increase of 14 percent compared to 17 million tons in the same preceding year.
At the same time, 30.8 million tons of sponge iron were consumed in Iran for the reporting period, which is an increase of 5 percent compared to the preceding Iranian year.
So, 29.2 million tons of sponge iron were consumed in the country in the preceding year.
Reportedly, Iran's annual steel production capacity is around 40 million tons. Iran plans to increase the figure to 55 million tons by 2025.
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