BAKU, Azerbaijan, August 16. Iran’s raw steel consumption increased by 3.9 percent during the first four months of the current Iranian year (March 21 through July 22, 2023), compared to the same period in the last year, Trend reports.
As stated in the data of the Iranian Steel Producers Association (ISPA), about 8.7 million tons of raw steel were consumed in the country for 4 months, compared to 8.37 million tons in the same period last year.
Out of the mentioned 8.7 million tons, 5.29 million tons accounted for the country’s billet and bloom consumption, which shows an increase of 11.8 percent compared to 4.73 million tons in the same period of the last Iranian year.
Meanwhile, the remaining 3.4 million tons accounted for the country’s slab consumption, which is a decrease of 6.5 percent compared to 3.64 million tons in the same period last year.
Moreover, Iran consumed 7.15 million tons of steel products over 4 months, which is an increase of 5.3 percent compared to 6.79 million tons in the same period last year.
At the same time, 12.4 million tons of sponge iron were consumed in Iran for the reporting period. This is an increase of 2.2 percent compared to 12.1 million tons in the same period of the last Iranian 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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