BAKU, Azerbaijan, October 24. Iran’s raw steel consumption decreased by 5.8 percent in the first six months of the current Iranian year (March 21 through September 22, 2023), compared to the same period last year, Trend reports.
Data from the Iranian Steel Producers Association (ISPA) shows that 11.7 million tons of raw steel were consumed in the country during six months, while in the same period last year, the figure stood at 12.4 million tons.
Out of the mentioned 11.7 million tons, 7.22 million tons accounted for the country’s billet and bloom consumption, representing a 0.7 percent increase compared to 7.17 million tons in the same period last Iranian year.
Meanwhile, the remaining 4.51 million tons accounted for the country’s slab consumption, which is a decrease of 15 percent compared to 5.29 million tons in the same period last year.
Also, Iran consumed 10.2 million tons of steel products in six months, which is an increase of 4.9 percent compared to 9.76 million tons in the same period last year.
At the same time, approximately 18 million tons of sponge iron were consumed in Iran during the reporting period. This is an increase of 2.78 percent compared to about 17.5 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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