BAKU, Azerbaijan, July 18. The consumption of crude steel in Iran increased by 5.8 percent during 3 months of the current Iranian year (from March 20 through June 20, 2024) compared to the same period of last year (March 21 through June 21, 2023), the statement of Iran's Steel Consumers Association said, Trend reports.
According to the statistics, crude steel consumption in Iran for 3 months amounted to 7.46 million tons. However, the country consumed 7.06 million tons of crude steel in the same period last year.
Furthermore, the statistics indicated that Iran's consumption of steel products during 3 months amounted to 5.37 million tons. Steel consumption decreased by 1 percent compared to the same period last year. About 5.43 million tons of steel products were consumed in Iran during the same period last year.
Meanwhile, the information adds that the country consumed 11 million tons of sponge iron during the three months. Consumption increased by 15.1 percent compared to the same period last year. In the same period last year, consumption stood at 9.57 million tons.
In addition, Iran's consumption of iron ore pellets and concentrate stood at about 33.8 million tons during the three months. Compared to the same period last year, the consumption of iron ore pellets increased by 11.9 percent. In the same period last year, 30.2 million tons of iron ore pellets were consumed.
To note, Iran's steel production potential is about 40 million tons per year. Iran targets increasing its steel production capacity to 55 million tons by 2025.
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