BAKU, Azerbaijan, November 14. Iran’s raw steel consumption fell by 2.8 percent in the first seven months of the current Iranian year (March 21 through October 22, 2023), compared to the same period last year, Trend reports.
According to data from the Iranian Steel Producers Association (ISPA), a total of 14.3 million tons of raw steel were consumed in the country during 7 months.
In the same period previous year, the country’s raw steel consumption stood at 14.7 million tons.
Out of the mentioned 14.3 million tons, 8.67 million tons accounted for the Iran’s billet and bloom consumption, representing a 3.6 percent increase compared to 8.37 million tons in the same period last year.
Meanwhile, the remaining 5.6 million tons accounted for the country’s slab consumption, which is a decrease of 11 percent compared to 6.31 million tons in the same period previous Iranian year.
Furthermore, Iran consumed 11.9 million tons of steel products in seven months, showing a 4.1-percent growth compared to 11.4 million tons in the same period last year.
Also, 21.1 million tons of sponge iron were consumed in Iran during the reporting period. This is an increase of 2.4 percent compared to about 20.6 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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