BAKU, Azerbaijan, February 10. Iran’s raw steel consumption increased by 3.6 percent during the first ten months of the current Iranian year (March 21, 2023 through January 20, 2024), compared to the same period last year, Trend reports.
Data from the Iranian Steel Producers Association (ISPA) shows that about 20.8 million tons of raw steel were consumed in the country over the course of ten months.
In the same period of the previous year, the country’s raw steel consumption stood at 20 million tons.
At the same time, Iran consumed 16.6 million tons of various steel products in 10 months, showing a 1.5 percent growth compared to 16.3 million tons in the same period last year.
Furthermore, 28.7 million tons of sponge iron were consumed in Iran during the reporting period. This is an increase of 7.3 percent compared to 26.8 million tons in the same period last Iranian year.
Within 10 months, the country consumed around 40.6 million tons of iron ore pellets, representing a 1.6 percent decrease from 41.2 million tons in the same period as the previous 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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