BAKU, Azerbaijan, July 3. Iran's crude steel consumption increased by 14.3 percent during two months of the current Iranian year (from March 20 through May 20, 2024) compared to the same period last year (from March 21 through May 21, 2023), the statistics of Iran's Steel Consumers Association said, Trend reports.
According to the statistics, crude steel consumption in Iran for 2 months amounted to 5.6 million tons. However, the country consumed 4.9 million tons of crude steel in the same period last year.
The statistics show that Iran's consumption of steel products during the past two months amounted to 3.58 million tons. Steel consumption decreased by 0.6 percent compared to the same period last year. During the same period last year, Iran consumed about 3.6 million tons of steel products.
Furthermore, the information indicates that the country consumed about 7.4 million tons of sponge iron during the two months. The consumption of sponge iron increased by 13.4 percent compared to the same period last year. During the same period last year, consumption amounted to about 6.52 million tons.
Also, the information notes that the consumption of iron ore pellets and concentrate in Iran for 2 months amounted to 23 million tons. The consumption of iron ore pellets increased by 13.3 percent year-on-year. During the corresponding period of last year, 20.3 million tons of iron ore pellets were consumed.
To note, Iran's steel production potential is about 40 million tons per year. Iran plans to increase its steel production capacity to 55 million tons by 2025.
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