BAKU, Azerbaijan, July 30. Iran’s raw steel consumption increased by 10.5 percent, during the first three months of the current Iranian year (March 21 through June 21, 2023), compared to the same period in the last year, Trend reports.
According to the report of Iranian Steel Producers Association (ISPA), about 7.4 million tons of raw steel were consumed in the country for 3 months, while the figure stood at 6.67 million tons in the same period last year.
Out of the mentioned 7.4 million tons, approximately 4.52 million tons accounted for the country’s billet and bloom consumption, which shows an increase of 20.7 percent compared to 3.74 million tons in the same period of the last Iranian year.
Meanwhile, the remaining 2.86 million tons accounted for the country’s slab consumption, which is a decrease of 2 percent compared to 2.93 million tons in the same period of last year.
Furthermore, Iran consumed approximately 5.4 million tons of steel products over 3 months, which is an increase of 3.6 percent compared to 5.22 million tons in the same period in the last year.
At the same time, 9.61 million tons of sponge iron were consumed in Iran for the reporting period.
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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