BAKU, Azerbaijan, September 7. Iran’s raw steel consumption decreased by 2.36 percent, during the first five months of the current Iranian year (March 21 through August 22, 2023), compared to the same period last year, Trend reports.
As indicated in the report of the Iranian Steel Producers Association (ISPA), 9.93 million tons of raw steel were consumed in the country for 5 months. Whereas in the same period last year, the figure stood at about 10.2 million tons.
Out of the mentioned 9.93 million tons, 6.04 million tons accounted for the country’s billet and bloom consumption, representing a 3.1 percent increase compared to 5.86 million tons in the same period last Iranian year.
Meanwhile, the remaining 3.89 million tons accounted for the country’s slab consumption, which is a decrease of 9.8 percent compared to 4.31 million tons in the same period last year.
Also, Iran consumed 8.6 million tons of steel products over 5 months, which is an increase of 5.3 percent compared to 8.17 million tons in the same period last year.
At the same time, approximately 15 million tons of sponge iron were consumed in Iran for the reporting period. This is an increase of 3.78 percent compared to 14.4 million tons in the same period 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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